Issue - meetings

Report of Assistant Director of Finance (Section 151 Officer)

Purpose of report

This report summarises Cherwell District Council’s (CDC’s) forecast revenue and capital outturn for 2023/2024 as at 30 November 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.

Resolved

(1)      That the contents of the report be noted.

The Assistant Director of Finance submitted a report that summarised the Council’s forecast revenue and capital outturn for 2023/2024 as at 30 November 2023.

The Portfolio Holder for Finance explained that the Council’s forecast outturn position for 2023/24 was an overspend of £0.259m.

In relation to the capital budget, the Portfolio Holder for Finance advised that there was a forecast in-year underspend of £12.439m of which £12.435m was to be reprofiled into future years. The Portfolio Holder of Finance explained this was primarily due to factors outside of the council’s control, for example, in relation to the waste and recycling vehicle replacement programme, there was a national delay in vehicle supply and delivery. The programme had therefore been reviewed and the capital budget reprofiled accordingly. 

Following a question on why there was an overspend on gate fees for waste and recycling, the Portfolio Holder for Finance advised that the CDC was required to pay the market price which fluctuated. Officers would provide a written response regarding the overspend.

Resolved

(1)      That the contents of the report be noted.