Agenda, decisions and minutes


Venue: Bodicote House, Bodicote, Banbury, OX15 4AA

Contact: Emma Faulkner / Richard Woods, Democratic and Elections  Email: emma.faulkner@cherwellandsouthnorthants.gov.uk, 01327 322043 / Email: richard.woods@cherwellandsouthnorthants.gov.uk, 01295 221550

Items
No. Item

27.

Declarations of Interest

Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.

 

Minutes:

There were no declarations of interest.

 

28.

Urgent Business

The Chairman to advise whether they have agreed to any item of urgent business being admitted to the agenda.

 

Minutes:

There were no items of urgent business.

 

29.

Minutes pdf icon PDF 197 KB

To confirm as a correct record the minutes of the meeting held on 25 September 2018.

 

Minutes:

The minutes of the meeting of the Committee held on 25 September 2018 were confirmed as a correct record and signed by the Chairman.

 

30.

Chairman's Announcements

To receive communications from the Chairman.

 

Minutes:

There were no Chairman’s announcements.

 

31.

Finance Monitoring Report - August 2018 pdf icon PDF 229 KB

Report of the Assistant Director – Finance and Procurement

 

Purpose of report

 

This report summarises the Finance monitoring position as at the end of each month.

 

Recommendations

            

1.1         To note the contents of the report.

 

Additional documents:

Decision:

Resolved

 

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

Minutes:

The Committee considered a report from the Assistant Director – Finance and Procurement, which summarised the Council’s Finance Monitoring position at the end of August 2018.

 

In introducing the report, the Assistant Director – Finance and Procurement advised the committee that a total overspend of £481k to the end of August was forecast. No additional financial risks had been identified in September or October.

 

In response to questions from the Committee regarding the current underspend in Disabled Facilities Grants, the Assistant Director – Finance and Procurement advised that work on internal Cherwell District Council processes was being undertaken to ensure that Disabled Facilities Grants were better utilised, however reiterated that the process was reliant on referrals for such grants from Oxfordshire County Council.

 

Resolved

 

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

 

32.

2019/20 Budget and Medium Term Financial Strategy Update pdf icon PDF 211 KB

Report of the Interim Executive Director – Finance and Governance

 

Purpose of report

 

This report provides an update of the current financial position and progress made towards setting the budget for 2019/20 and Medium Term Financial Strategy.

 

Recommendations

             

1.1         To note the contents of the report.

 

Additional documents:

Decision:

Resolved

 

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

Minutes:

The Committee considered a report and presentation from the Interim Executive Director – Finance and Governance, which provided an update on the current financial position and progress being made towards setting the budget for 2019/20 and the Medium Term Financial Strategy.

 

The Interim Executive Director – Finance and Governance advised the Committee that details of the financial settlement from central Government were expected around 6 December 2018.

 

In response to Members’ questions, the Interim Executive Director – Finance and Governance confirmed that due to the volatility of some areas of income, such as planning application fees, the actual position regarding income was taken into account when setting the new budget.

 

Resolved

 

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

 

33.

Response to the Value for Money Judgement in 2017/18 accounts pdf icon PDF 237 KB

Report of Interim Executive Director – Finance and Governance

 

Purpose of report

 

Following the publication of the final accounts for 2017/18 for Cherwell District Council in September 2018, our accounts were not qualified, except for Value for Money.  In response to the issues raised in that judgement, this report details the actions that we have taken to address any concerns in that judgement and highlights our continued strengthening of our financial management framework.

 

The issues highlighted related to the acquisition of one company, which included the acquisition of one site within Banbury known as “Crown House” and this report evidences the improvements that happened both within 2017/18 and into 2018/19 around our acquisition strategy and policy.  Further actions are also detailed about other improvements that we wish to make.

 

As part of the Value for Money audit for 2017/18 other similar transactions were examined, including the acquisition of Castle Quay 1 and 2 and no issues were raised.

 

Recommendations

            

The meeting is recommended:

 

1.1       To note the actions taken to date in relation to address any concerns          within the value for money judgement in our 2017/18 accounts in   relation to the acquisition of assets.

 

           

 

Decision:

Resolved

 

(1)        That the actions taken to date in relation to address any concerns   within the value for money judgement in our 2017/18 accounts in          relation to the acquisition of assets be noted.

Minutes:

The Committee considered a report from the Interim Executive Director – Finance and Governance, which detailed Cherwell District Council’s response to the Value for Money Judgement on the 2017/18 accounts.

 

In introducing the report, the Interim Executive Director – Finance and Governance advised the Committee that the report would also be presented to the Board of Crown House Banbury Ltd, as agreed with the external auditors.

 

The Interim Executive Director – Finance and Governance assured the Committee that there was no indication in the judgement that the acquisition of Crown House should not have happened.

 

As a result of the Value for Money judgement, other transactions had been reviewed and no issues had been found. In response to the report, the Committee commented that the report had given Members and officers a number of learning points for future transactions. 

 

Resolved

 

(1)        That the actions taken to date in relation to address any concerns   within the value for money judgement in our 2017/18 accounts in          relation to the acquisition of assets be noted.

34.

Review of Committee Work Plan pdf icon PDF 22 KB

To review the Committee Work Plan.

Decision:

Resolved

 

(1)        That the Committee Work Plan be noted, subject to the inclusion of an       additional item relating to Business Rates Overview and the removal of     the item relating to S106 Monitoring from the 27 November 2018 meeting.

Minutes:

The Committee considered its Work Plan.

 

Resolved

 

(1)        That the Committee Work Plan be noted, subject to the inclusion of an       additional item relating to Business Rates Overview and the removal of     the item relating to S106 Monitoring from the 27 November 2018 meeting.