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ITEM EX5 - ANNEX 2

EXECUTIVE – 16 MARCH 2004

FINANCIAL MONITORING

 

General Balances 2004/05 – latest update

 

 

 

 

 

 

Estimated balances at start of year

Contribution to/from balances

Per published MTFP

City Schools Reorganisation Surplus

Additional Contribution

Sub total

Estimated use of balances

Budget

2004/05

Net Movements

27 Jan 17 Feb 16 March

(1) (2) (3)

January 2004

Latest position

£m

2,499

645

486

4,000

7,630

-1,000

£m

-163

£m

648

£m

793

£m

3,777

645

486

4,000

8,908

-1,000

Estimated balances at end of year

6,630

 

 

 

7,908

Major reasons for movement in estimated balances.

(1) City Schools forecast overspending reduced by £0.135m.

(2) Adjustments on firefighters’ pensions and retained firefighters’ budget £0.150m, rates refunds £0.212m,closed City Schools estimated deficits reduced by £0.300m.

(3) Repayment of closed City Schools deficits, £0.700m.


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