Recommendations:
The Executive is asked:
• To note the provisional consolidated outturn surplus of £2.859 million for 2014/15 and the provisional outturn position for each of the three funding streams;
• To note the provisional level of reserves of £10.237 million (paragraphs 60-61), which reduces to £6.493 million once known commitments of £3.744 million are taken into account (paragraphs 62-63);
• To note the updated financial position of the London Councils as detailed in paragraphs 64-66 of this report; and
• To agree to receive a further report in November 2015 after the completion of the external audit by PricewaterhouseCoopers (PwC) to adopt the statutory final accounts for 2014/15. The final accounts will be signed off at the meeting of the Audit Committee on 24 September 2015, at which PwC will formally present the Annual Audit Letter to for approval.