Issue - meetings

Report of Assistant Director Finance & Section 151 Officer

Purpose of report

To update Executive on financial positions at the end of the May 2024.

Recommendations

The Executive resolves:

1.1         To consider and note the contents of the council’s financial management report as at May 2024.

1.2         To approve the use of reserve requests set out in Appendix 5.

1.3         To approve the write offs totalling £398,796.89 set out in exempt Appendix 6.

1.4         To approve the reprofile of the following capital project beyond the 2024/25 financial year, this has already been assumed in Appendix 1:

40296 – S106 Ambrosden Outdoor Sports - £0.130m

1.5         To approve the consolidation of the three projects relating to North Oxfordshire Academy (40309 – S106 NOA Improvements - £0.678m, 40010 – North Oxfordshire Academy Astroturf - £0.134m and 40323 – NOA 3G Pitch Development - £1.600m), note the total project cost is now expected to be £1.600m, and approve the reprofile of the project beyond the 2024/25 financial year. This has already been assumed in Appendix 1.

Resolved

(1)          That the contents of the council’s financial management report as at the end of May 2024 be noted.

(2)          That the use of reserve requests as set out in Appendix 5 of the report be approved.

(3)          That the write offs totalling £398,796.89 as set out in exempt Appendix 6 be approved.

(4)          That the reprofile of the following capital project beyond the 2024/25 financial year (already been assumed in Appendix 1 to the report) be

approved:

·         40296 – S106 Ambrosden Outdoor Sports - £0.130m

(5)          That the consolidation of the three projects relating to North Oxfordshire Academy (40309 – S106 NOA Improvements - £0.678m, 40010 – North Oxfordshire Academy Astroturf - £0.134m and 40323 – NOA 3G Pitch Development - £1.600m) be approved and it be noted the total project cost was now expected to be £1.600m, and the reprofile of the project beyond the 2024/25 financial year (already assumed in Appendix 1 to the report) be approved.