28 Strata Finance Report PDF 39 KB
TheStrataFinance Director presentedthereportadvisingon the financial position of Strata at the end of quarter 1 of the financial year 2020/2021, including both revenue and capital spend. He advised that the Company had been given a total of £6.60 million to run the IT Services in 2020/21 along with funding for various capital projects.
18 Strata Budget Monitoring Quater 1 2020/21 PDF 39 KB
The Strata Director for Finance referred to the agenda report relating to the financial position of Strata. Strata was given £6.6million to run the services for 2020/21. The Covid pandemic had resulted in all Councils looking for savings. Additional Strata savings have been identified at £330K due to for example, delaying staff appointments, and procurement adjustments, resulting in a forecast £1m refund to the 3 Councils this year. In addition, the Statement of Accounts 2019/20 which had been signed off by the Auditors. The Director explained the differences between a company and a Council in terms of financial management and practices, which enables Strata to return a refund to the Councils at year end.
The report be noted.