Financial Statement
Perth and Kinross Council · 18 August 2025
Back to Perth Common Good Fund Committee — 18 August 2025 and its agenda
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PKC - GENERAL Our vision is a Perth and Kinross where everyone can live life well, free from poverty and inequality ___________________________________________________________________ Committee: Perth Common Good Fund Committee Date of Meeting: 18 August 2025 Report Title: 2025/26 Financial Statement Report Number: 25/199 Report Author: Alison O’Brien, Corporate Accounting Manager Organisational Lead: Scott Walker, Chief Finance Officer ___________________________________________________________________ 1. Purpose 1.1 The purpose of this report is to provide details of actual income and expenditure to 30 June 2025 and provide the projected outturn for financial year 2025/26 for Perth Common Good Fund. 1.2 Sections 1. Purpose 2. Recommendation 3. Background/Context 4. Main Issues 5. Conclusion 6. Impact Value Assessment 7. Appendices 2. Recommendation It is recommended that the Committee: 2.1 Note the actual and projected income and expenditure to 31 March 2026, as set out in Appendix 1. 2.2 Approves the proposed virement to the 2025-26 Budget set out in Appendix 1.
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PKC - GENERAL 3. Background/Context 3.1 The Committee approved the 2025/26 Budget at the meeting on 5 May 2025 (Report 25/107 refers). This report provides an update on the actual income and expenditure to 30 June 2025 and the projected outturn for 2025/26. 4. Main Issues Financial Statement 2025/26 4.1 Appendix 1 provides the 2025/26 Financial Statement which includes the Budget approved by Committee on 3 February 2025 (Report 25/21 refers). 4.2 There is a proposed virement to the figures to reflect the new accounting for leases which was implemented in the 2024/25 accounts and impacts on the disclosure of a number of expenditure lines but has no impact on the surplus/deficit for the year. 4.3 Following the update to Committee on 5 May 2025 (Report 25/107 refers) the projected deficit has reduced to £14,705 from £31,013 – a movement of £16,308 from the deficit reported in May 2025. This is due mainly to increased income from rent, fees and charges of £3,000 and Interest on Investments of £11,000. 4.4 The projected fund balance at 31 March 2026 is £2,151,766 – a movement of £28,905 since the previous report. This is a combination of the £16,308 movement in deficit above and £12,597 in the opening balance arising from finalising the unaudited annual accounts for 2024/25. This was mainly additional interest on investments of £12,810 compared with the amount reported at the previous committee meeting in May 2025. 5 Conclusion 5.1 As detailed in Appendix 1, the projected deficit for the Fund for 2025/26 is £14,705 and the anticipated Fund balance at 31 March 2026 is £2,151,766. 6. Impact Value Assessment 6.1 This is an operational report, and as such, an impact and value assessment is not required. 7. Appendix 7.1 Appendix 1 – Perth Common Good Fund - Financial Statement for 2025/26.
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PKC - GENERAL