To consider a report from the Principal Accountant presenting the financial monitoring information for the income and expenditure to date.
The Group had before it and NOTED a *report from the Deputy Chief Executive (S151) presenting the financial monitoring information for the income and expenditure for the six months to 30 September 2019 and the projected outturn position.
The Group Manager for Financial Services outlined the content of the report and explained that this was the second formal report for the year and there was a big differential from quarter 1, now showing a surplus of £29k. A number of factors had contributed to this including waste savings and the receipt of a significant planning application.
She explained that the Council had not taken out any new borrowing this year so was unaffected by the recent rise in interest rates.
Note: *Report previously circulated and attached to the minutes.