Issue - meetings

Cabinet noted that in accordance with the Council’s debt reduction strategy, all year-end surplus general fund receipts have been directed towards debt reduction.  As a result of this strategy, the closing debt position for the General Fund as measured by the Capital Financing Requirement (CFR) for 2012/13 at quarter 4 was is£78.4m.  The Leader welcomed this huge transformation in the balance sheet.

RESOLVED

That the content of the report complies with financial standards, be noted.