54MP Aberdeen Cty 54

TIDM54MP

RNS Number : 4529O

Aberdeen City Council

18 August 2017

Aberdeen City Council Q1 Financial Performance Report

Aberdeen City Council has published papers including the Q1 Financial Performance Report. In addition, there is also a report proposing a new Target Operating Model for the organization. Note that an article appeared in local press on 16 August 2017 which contained inaccurate information on the contents of the report.

There is also an update on the recruitment selection to the Aberdeen Economic Policy Panel - an independent body that will advise on and inform the Council's annual credit rating reassessment.

Both items are on the agenda for the meeting of the full Council on 23 August 2017. The agenda and related papers will be available online at:

https://committees.aberdeencity.gov.uk/ieListDocuments.aspx?CId=122&MId=4326&Ver=4

ENDS

Issued on behalf of Aberdeen City Council by Paul Smith. For further information email KOneil@aberdeencity.gov.uk or call 01224 523188 or 07825 546396 (out of hours).

NOTES TO EDITORS

1. Aberdeen City Council provides local government services to 115,080 households and 8,651 businesses. The authority serves a population of 229,000 directly and on an operational basis the wider North-east population of 489,000. The Council employs approximately 8,600 staff;

2. Aberdeen City Council comprises 45 councillors, representing 13 wards, and since the May 2017 election has been controlled by a Conservative-Labour-Independent coalition. Councillors are elected every five years by the citizens of Aberdeen;

3. Under the Council's constitution it has financial procedure rules which incorporate the Chartered Institute of Public Finance and Accountancy (CIPFA) code of practice on treasury management and requires the Council to produce a treasury management policy and have it approved by the Council;

4. The Council is subject to the Local Government (Scotland) Act 1975 as amended and in large part replaced by the Scotland Act 2016 in relation to borrowing for capital expenditure purposes. Under the Scotland Act 2016, each local authority must determine before the start of each financial year how much external debt it can afford during that financial year and each of the subsequent two financial years.

5. Copies of the annual report and statement of accounts are available at: www.aberdeencity.gov.uk ;

This information is provided by RNS

The company news service from the London Stock Exchange

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