To provide Members with an up to date summary of the Committee’s financial situation.

1.1 The report for the first ten months of the current financial year is attached (see Annex A).

1.2 Transport expenditure continues to show the effects of a busy period for Fishery Patrol Vessel Aegis earlier in the year combined with unprecedented high fuel prices; a small recovery has been made since the report presented to the December meeting of this Committee.

1.3 Otherwise expenditure is basically in line with expectations.

1.4 The majority of the Committee’s funds continue to be invested with Lancashire County Council. As Members will be aware, interest rates generally have risen over the last few months – the current rate of 5.30% per annum continues to be very favourable compared with those offered by banks or other acceptable institutions.