Issue - meetings
Monthly Finance Performance Report
Meeting: 31/10/2023 - Budget Planning Committee (Item 24)
24 Monthly Finance Performance Report 
PDF 779 KB
Report of Assistant Director of Finance
Purpose of report
This report summarises Cherwell District Council’s (CDC’s) forecast revenue and capital outturn for 2023/2024 as at 31 August 2023 to give the Committee the opportunity to consider the finance aspects of the report.
Recommendations
The meeting is recommended:
1.1 To note the contents of this report.
Additional documents:
- Appendix 1 - Finance Capital August 2023, item 24
PDF 343 KB
- Appendix 2 - Detailed Revenue Narrative on Forecast August 2023, item 24
PDF 222 KB
- Appendix 3 - Virements and Aged Debt August 2023, item 24
PDF 183 KB
- Appendix 4 - Funding August 2023, item 24
PDF 152 KB
- Appendix 5 - Use of Reserves and Grant funding August 2023, item 24
PDF 110 KB
- Webcast for Monthly Finance Performance Report
Decision:
Resolved
(1) That the contents of the report be noted.
Minutes:
The Assistant Director of Finance submitted a report that summarised Cherwell District Council’s (CDC’s) forecast revenue and capital outturn for 2023/2024 as at 31 August 2023.
The Portfolio Holder for Finance, Councillor Nell, explained that the revenue outturn position for 2023/24 was currently forecast as an overspend of £0.656m. Planning and Development had the top variance, 31.9% due to income projections being lower than expected and agency costs.
In relation to the capital budget, the Portfolio Holder for Finance advised that there was a forecast in-year underspend of £7.165m of which £7.121m was to be reprofiled into future years due to changes in programme timetables. There was an overall forecast decrease in the total cost of schemes.
Resolved
(1) That the report be noted.