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Issue - meetings

Financial Performance Report 2023/24 Quarter Two

 

 

Meeting: 15/11/2023 - Executive (Item 109)

109 Financial Performance Report 2023/24 Quarter Two pdf icon PDF 264 KB

Purpose:

To detail the Council’s financial performance for Quarter Two 2023-2024.

 

Recommendations:

That the Executive Resolves to:

1.    Note the Council’s Financial Performance for Quarter Two 2023-2024.

Additional documents:

Minutes:

Councillor Alaric Smith, Executive Member for Finance, introduced the report, which provided details of the Council’s financial performance for Quarter Two 2023-2024.

 

The Executive Member also referred to a recommendation made from the Council’s Overview and Scrutiny Committee, which requested that the Council drew up plans for major refurbishment works to be undertaken at Chipping Norton Leisure Centre.

 

The Executive Member stated that the Executive were supportive of the recommendation in principle and were keen to address the issues caused by the water damage. The Executive stated they would, however, want a more extensive capital refurbishment programme to be an informed piece of work more generally.

A recently commissioned Strategic Outcomes Planning Model would provide the evidence base for the most effective use of a capital allocation at Chipping Norton Leisure Centre.

 

Councillor Alaric Smith proposed that the Executive agree to the recommendation as listed on the report. This was seconded by Councillor Andy Graham, was put to a vote, and was agreed unanimously by the Executive.

 

The Executive Resolved to:

1.      Note the Council’s Financial Performance for Quarter Two 2023-2024.

Meeting: 08/11/2023 - Overview and Scrutiny Committee (Item 8)

8 Q2 Finance Report - Nov 23 pdf icon PDF 265 KB

Purpose:

To detail the Council’s financial performance for Quarter Two 2023-2024.

 

Recommendation:

That the Committee scrutinises the Financial Performance for Quarter Two 2023-2024

 

Invited:

Councillor Alaric Smith, Executive Member for Finance

Madhu Richards, Director of Finance

Georgina Dyer, Chief Accountant

 

Additional documents:

Minutes:

Councillor Alaric Smith, the Executive Member for Finance, introduced the Quarter Two Finance Report, which included a forecast outturn position for the first time.

The Director of Finance introduced herself and explained that she had only been in post for just over three weeks. The forecast allowed the Council to review progress against the budget that was set earlier in the year, and that as a forecast it probably will change. The main areas of overspend were in:

  • Waste;
  • Leisure;
  • Investment Properties.

 

These three areas will be a focus of work during the 2024/25 budget setting process.

The Director of Finance then asked if the Committee had any questions on the report.

Councillors asked about the following points within the report:

 

Point 1.1 recycling cost impact.

Bill Oddy the Assistant Director for Commercial Development confirmed it was a national problem where the cost of processing the recycling had increased, and the public was recycling more. The Council’s contracts and neighbouring districts’ contracts were up for renewal, so the option of jointly procuring contracts would be explored.

WODC had increased waste charges this year by £5, but this had not affected the number of licences, they remained broadly the same. After a benchmarking exercise the Council’s fees were found to be lower than average, and the second lowest across Oxfordshire and Gloucestershire.

Point 1.7 GLL payment and future payments.

Recent meetings with GLL had taken place and a number of positive avenues were being explored

Point 1.9 Appeal external legal fees.

Jon Dearing, the Assistant Director for Resident Services, confirmed that appeal legal fees were significant, and that it was dependant on the planning appeals outcomes. Councillor Alaric Smith informed the Committee that at a recent informal Executive meeting Phil Shaw, the Business Manager for Development & Sustainability had attended, and informed the Executive that they were considering a Development Control briefing, that would explain the impact of appeal fees to the members of the planning committees.

The Director of Finance added that there is a Legal Services review going ahead too, as due to resource issues in Legal Services, external Legal Services that were procured also had added to the costs.

 

Point 1.11 Pensions budget, could this be afforded.

The Chief Accountant confirmed that the report was written in advance of the Publica Review. Therefore once the output of the Publica Review was known, these figures would be reviewed. The report to the end of quarter two reflected the secondary (i.e. historic liability) contributions that were made in regards to the Local Pensions Government Scheme. However, the budget was set before the actual levels of secondary contributions were known. A re-evaluation would occur in January. Any outputs from the Publica Review would be built into the 2024/25 budget but the timescales were tight as the Publica Review and Budget setting would all occur at a similar time.

 

Point 1.14 Council Tax and Business Rates income versus arrears.

The Assistant Director for Resident Services explained that a discretionary Council Tax Support Scheme  ...  view the full minutes text for item 8

 

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