The Joint Committee received a report of the Head of Strategic Procurement providing an update on both the STAR final financial position for 2016-17 and the Quarter One Finance Report for 2017-18.

Members discussed the current level of reserves, and whether these should be reinvested. The recommendation previously made by Chief Officers was to allow the Director of STAR Procurement, who came into post earlier in 2017, the opportunity to assess whether proposals were needed for any reinvestment. It was noted that a discussion was required to agree the appropriate level of reserves.

The Chief Finance Officer, Trafford Council discussed the headings of the table in appendix 1 of the report, stating that the term ‘forecasted’ should be replaced with ‘actual’, and questioned why months 3-9 were not included.

            RESOLVED: That the report be noted.