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Issue - meetings

Meeting: 13/09/2019 - WMCA Board (Item 35)

35 Financial Monitoring Report 2019/20 pdf icon PDF 292 KB

Presented By: Councillor Bob Sleigh

Decision:

The financial position as at the end of July 2019 was noted.

Minutes:

The board considered a report from Linda Horne, Director of Finance, on the WMCA’s finances as at the end of July.

 

The report summarised the revenue and capital spend against the previously approved budget. The year to date position showed a minor £3,000 favourable variance from budget. This consisted of a favourable variance of £143,000 within transport offset by an adverse variance of £140,000 within the operational budget. The year end position showed an adverse variance of £627,000 from budget. This consisted of a favourable variance of £37,000 within transport offset by an adverse variance of £664,000 within the operational budget.

 

As part of financial planning work, an operational efficiency review was being undertaken with the aim of negating the adverse forecast position fully during the current financial year. Updates on this review would be provided at future meetings.

 

Resolved:

 

The financial position as at the end of July 2019 be noted.