39 Financial update for the six months to 30 September 2017 (00:13:14) PDF 285 KB
To receive a report from the Director of Finance, Assets & Resources presenting a financial update in respect of the income and expenditure so far in the year.
Additional documents:
Minutes:
The Group had before it, and NOTED, a report * from the Director of Finance, Assets & Resources presenting a financial update in respect of the income and expenditure so far in the year.
The following was highlighted within the report and discussion followed with regard to:
· There was a General Fund Housing variance of £5k
· There was a shortfall of £59k on dwelling rents income but it was explained that this was only a variance of 0.5% on what was expected at this stage in the year.
· There was a £76k underspend in Repairs and Maintenance.
· Agency costs were sometimes incurred as a result of seasonal repairs and maintenance pressures.
· It was clarified that ‘RCCO’ stood for ‘Revenue Contribution to Capital Operations’.
Note: * Report previously circulated; copy attached to the signed minutes.