Issue - meetings

Report of Executive Director Finance (interim) and Assistant Director: Performance and Transformation

Purpose of report

This paper provides an overview of the way in which Cherwell District Councils Business and Budget Planning Process for 2020/21 will be undertaken this year including ensuring there is a strong and transparent link between our overall Council objectives and our resource planning.

Recommendations

The meeting is recommended:

1.1      To note the proposed approach for Business and Budget Planning for         2020/21.

Resolved

(1)  That the proposed approach for Business and Budget Planning for 2020/21 be noted.

The Committee considered a report from the Interim Executive Director – Finance and Governance and the Assistant Director – Performance and Transformation, which provided an overview of the way in which Cherwell District Council’s Business and Budget Planning Process for 2020/21 would be undertaken.

The Interim Executive Director – Finance and Governance advised the Committee that the Council faced significant challenges surrounding Local Government funding and potential reductions in the New Homes Bonus, leading to a potential deficit of approximately £3m in the revenue budget by 2020/21.

In response to questions from the Committee regarding the New Homes Bonus, the Interim Executive Director – Finance and Governance advised Members that there had been no guarantees from Central Government that the New Homes Bonus would continue at the same level beyond the current financial year. 

Resolved

(1)  That the proposed approach for Business and Budget Planning for 2020/21 be noted.