Agenda item

Report of Assistant Director of Finance and Interim Assistant Director – Customer Focus

Purpose of report

This report summarises the Council’s Performance, Risk and Finance monitoring positions as at the end of August 2022.

Recommendations

The meeting is recommended:

1.1         To note the monthly Performance, Risk and Finance Monitoring Report August 2022.

1.2         To create an income and expenditure budget of £0.503m for the Homes for Ukraine Grant.

1.3         To agree additional Capital Project to be included within the Capital Programme for a new mains electrical connection to accommodate the newly installed Air Source Heat Pump (ASHP) to operate at Kidlington Leisure Centre.

1.4         To approve the changes to reserves as detailed in Appendix 5.

Resolved

(1)          That the monthly Performance, Risk and Finance Monitoring Reports for  August 2022 be noted.

(2)          That it be agreed to create an income and expenditure budget of £0.503m for the Homes for Ukraine Grant be created.

(3)          That an additional Capital Project to be included within the Capital Programme for a new mains electrical connection to accommodate the newly installed Air Source Heat Pump (ASHP) to operate at Kidlington Leisure Centre be agreed.

(4)          That the following changes to reserves as detailed in the Annex to the Minutes (as set out in the Minute Book) be approved:  

The Assistant Director of Finance and Interim Assistant Director – Customer Focus submitted a report which summarised the Council’s Performance, Risk and Finance monitoring positions as at the end of August 2022.

Resolved

(1)           That the monthly Performance, Risk and Finance Monitoring Reports for  August 2022 be noted.

(2)           That it be agreed to create an income and expenditure budget of £0.503m for the Homes for Ukraine Grant be created.

(3)           That an additional Capital Project to be included within the Capital Programme for a new mains electrical connection to accommodate the newly installed Air Source Heat Pump (ASHP) to operate at Kidlington Leisure Centre be agreed.

(4)           That the following changes to reserves as detailed in the Annex to the Minutes (as set out in the Minute Book) be approved:  

Reasons

This report provides an update on progress made during August 2022, to deliver the Council’s priorities through reporting on Performance, Leadership Risk Register and providing an update on the Financial Position. The Council is committed to performance, risk and budget management and reviews progress against its corporate priorities on a monthly basis.

Alternative options

Option 1: This report illustrates the Council’s performance against the 2022-23 Business Plan. Regarding the monitoring aspects of the report, no further options have been considered. However, members may wish to request that officers provide additional information. Regarding the recommendation to approve changes in use of reserves, members could choose not to reject the change of use, however, the request is in accordance with the councils Reserves Policy and within existing budgets.  If Members chose not to agree to the changes in transfers to reserves, then this would mean resource would need to be found for these projects separately in future years.