Decision details

To inform Cabinet of the budget monitoring position against the General Fund, Housing Revenue Account and Capital Programme for 2013/14; and of proposed improvements to the monitoring of debt.

It was proposed by the Chairman, seconded by the Vice-Chairman and RESOLVED:

“THAT the recommendations as set out at paragraph 6.0 of the report be adopted, namely:

1.  That Council approves the amendment to the Financial Procedure Rules to require the reporting of all aged debt over £150,000 to the next available ordinary council meeting;

2.  That Council agrees that the timeline for reporting debts shall be 60 days for those debts with standard payment terms of 0 or 30 days and 90 days for those debts with payment terms of 60 days, regardless of whether or not the debt has been paid in full or in part between the expiry of the 60 or 90 day period (whatever the case may be) and the date of the next available ordinary council meeting;

3.  That Council approves the amendments to Financial Procedure Rules (Regulation D: Systems and Procedures), as set out at Annex 1.”