Verbal Quarterly Update
To receive a verbal quarterly report on the management of investment assets.
Reason for exemption
This report is likely to contain exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to information) (Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.
Minutes:
The Chief Finance Offer gave a verbal update on the rental collection rates which were performing better for the Council than the rental market generally. He reported that the June quarter collection rates were ahead of where we were at the same time in the March quarter and there were signs of encouragement in other income streams. He advised that sinking fund projections, both on a worse case and best case scenario were reviewed on a weekly basis and confirmed that the Council had sufficient sinking funds to ensure that even on the worse-case scenario, there was no adverse impact on the revenue budget nor as a consequence, on Council Tax payers.
Resolved to note the update.
Verbal Quarterly Update
To receive a verbal quarterly report on the management of investment assets.
Reason for exemption
This report is likely to contain exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to information) (Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.