Agenda item

To receive a report of the Director of Finance, Assets and Resources presenting a financial update in respect of the income and expenditure so far in the year.

The Cabinet had before it and NOTED a * report of the Director of Finance, Assets and Resources presenting financial monitoring information for the income and expenditure for the financial year 2017/18.

The Cabinet Member for Finance outlined the contents of the report stating that there was a projected deficit of £73k, a reduction of £57k since the annual variance of £130k was reported in June. Leisure income was down, but trading receipts had improved.  Reserves and the HRA were in a good position and investment income was healthy.

Consideration was given to:

·         The capital programme and the fact that Palmerston Park and the Exe Valley Leisure Centre extension should be completed by the end of the year

·         Market Walk units

Note:  *Report previously circulated copy attached to minutes