Agenda item

(Appendices 6 and 7 to this report are exempt and any questions on these appendices must be asked in private session, following Executive resolution to exclude the press and public)

Report of Assistant Director of Finance and Assistant Director Customer Focus

Purpose of report

To update Executive on how well the council is performing in delivering its priorities, managing potential risks, and balancing its finances for 2023/24 up to the end of Quarter 2 2023.

Recommendations

The meeting is recommended:

1.1         To note the Council’s Performance, Risk and Financial report for the current financial year up to the end of Quarter 2 2023 and its contents.

1.2         To approve the use of reserves in Appendix 5.

1.3         To approve the £0.030m grants funding for the UKSPF Community Facilities.

1.4         To approve the S106 funding for Longford Park Sports Pitches amounting to  £0.050m.

1.5         To approve the S106 funding for Deddington Parish Council projects amounting to £0.040m.

1.6         To approve the increase in Building Safety Regulator hourly rate to £71.32.

1.7         To approve the write offs of £0.787m set out in section 3.7 and Appendix 3 and to note that they will be funded by the bad debt provision.

Resolved

(1)          That Council’s Performance, Risk and Financial for the current financial year up to the end of Quarter 2 2023 be noted.

(2)          That the following use of reserves be approved:

Directorate: Resources

Type: Earmarked

Description: Elections Reserve

Reason: To cover election costs

Amount £m: 0.070

Directorate: Resources

Type: Earmarked

Description: Market Risk Reserve

Reason: Over-recovery of Treasury Income

Amount £m: (0.448)

(3)          That £0.030m grants funding for the UKSPF Community Facilities be approved.

(4)          That the S106 funding for Longford Park Sports Pitches amounting to  £0.050m be approved.

(5)          That the S106 funding for Deddington Parish Council projects amounting to £0.040m be approved.

(6)          That the increase in Building Safety Regulator hourly rate to £71.32 be approved.

(7)          That the following write offs of £0.787m be approved and it be noted that they will be funded by the bad debt provision:

The Assistant Director of Finance and Assistant Director Customer Focus submitted a report to update Executive on how well the council was performing in delivering its priorities, managing potential risks, and balancing its finances for 2023/24 up to the end of Quarter 2 2023.

Resolved

(1)          That Council’s Performance, Risk and Financial for the current financial year up to the end of Quarter 2 2023 be noted.

(2)          That the following use of reserves be approved:

Directorate: Resources

Type: Earmarked

Description: Elections Reserve

Reason: To cover election costs

Amount £m: 0.070

Directorate: Resources

Type: Earmarked

Description: Market Risk Reserve

Reason: Over-recovery of Treasury Income

Amount £m: (0.448)

(3)          That £0.030m grants funding for the UKSPF Community Facilities be approved.

(4)          That the S106 funding for Longford Park Sports Pitches amounting to  £0.050m be approved.

(5)          That the S106 funding for Deddington Parish Council projects amounting to £0.040m be approved.

(6)          That the increase in Building Safety Regulator hourly rate to £71.32 be approved.

(7)          That the following write offs of £0.787m be approved and it be noted that they would be funded by the bad debt provision:

Reasons

This report provides an update on progress made during Quarter 2, to deliver the council’s priorities, manage potential risks and remain within the agreed budget.

Alternative options

This report summarises the council’s performance, risk, and financial positions up to the end of Quarter 2, therefore there are no alternative options to consider. However, Members may wish to request further information from officers for inclusion.