Financial Monitoring (00:08:01)
To receive a verbal update from the Group Manager for Finance presenting financial monitoring information relating to the income and expenditure in the year to date.
Minutes:
The Group Manager for Finance provided the Group with a verbal update regarding financial information relating to the income and expenditure in the year to date.
It was explained that it was still very early on in the financial year but that the current overspend was predicted to be approximately £242k. A significant area of income falling under the Economy PDG’s remit was car parking. There was predicted to be an overspend in this area due in part to the building works affecting the Multi Storey Car Park (MSCP). However this had been offset by income from street fines and the fact that the MSCP was currently open 24 hours a day and did not require locking up and security costs as before.
The information provided was NOTED.