Integrated Performance Report Quarter 3 2014/15
Decision Maker: City Executive Board (became Cabinet on 13 May 2019), Council
Decision status: Recommendations approved
Is Key decision?: No
Is subject to call in?: Yes
To provide a quarterly update of the Council’s finances, the performance of services and the risks faced by the authority.
Quarter 1- based on information as at 30 June 2014
Quarter 2- based on information as at 31 October 2014
Quarter 3- based on information as at 31 December 2014
Quarter 4 – based on information as at 31 March 2015
The Heads of Finance and Business Improvement and Technology submitted a report (previously circulated, now appended) which detailed the Council’s finances, risk and performance as at the end of quarter 3, 31 December 2014
Cllr Turner, Board member for Finance, Asset Management and Public Health presented the report. The Council had done better than expected in trading services; he thanked the staff involved for the work done.
In terms of the Housing Revenue Account (HRA) there was a slippage in the building of new council homes, the grant for this would be carried forward.
The Capital Programme was also facing slippages, it was a difficult climate for construction and an undersupply of materials was making it harder to get projects completed within budget and on-time. The Rose Hill Community Centre was one project that had taken longer than anticipated to begin.
Cllr Turner explained the proposal to create a property investment fund which would enable the Council to turn one off resources into revenue. There is a range of options of how property should be selected:
- does it have a social use?
-Degree of return
Council’s performance for the quarter was good. Council’s CO2 emissions will improve in the next quarter with the change in swimming pools.
Cllr Fooks said she supported the property portfolio proposal.
She asked how much of the £500,000 equity loan scheme had been taken up?
The Executive Director for Community Services explained that the scheme needed to seek approval to allow existing teachers in Oxford schools to apply. Schools would prefer to retain junior teachers rather than encourage teachers from outside the city. Funding could be used to help teachers pay a deposit for their first home.
Cllr Fooks noted that the lack of affordable homes being built was disappointing. This was due to the economic downturn.
She asked how the corporate lease renewals/rent reviews were progressing.
The Chief Executive explained that the Council was in the process of negotiating rent reviews. It had deliberately missed the deadline in the hope of securing higher rents. Any rents would be backdated.
Cllr Fooks asked why the total value of work as a result of Environmental Development intervention was 20% below target.
Cllr Tanner, Board Member for Cleaner, Greener Oxford, Climate Change and Transport said he would provide a written response outside of the meeting.
The City Executive Board resolved to:
1. NOTE the projected outturn for finance (showing a favourable General Fund position of £1.267 million, a favourable Housing Revenue Account position of £2.565 million and a favourable Capital Position of £3.890 million) and performance as well as the associated risk position as at December 2014;
2. RECOMMEND to Council a supplementary capital budget £200,000 for welfare facilities at Cowley Marsh depot as detailed in paragraph 5;
3. NOTE the risks and potential financial penalties relating to Homes and Communities Agency Grant Funding as outlined in paragraphs 6 and 7; and
4. RECOMMEND to Council that all end of year revenue surpluses from 2014/15 be transferred into a property investment reserve, subject to c) above, in order that the funds can be invested to provide future income streams or to further policy objectives including the allocation of £550,000 in relation to the purchase of the freehold of St.Aldate’s Chambers.
Report author: Nigel Kennedy, Head of Business Improvement and Technology
Publication date: 18/03/2015
Date of decision: 12/03/2015
Decided at meeting: 12/03/2015 - City Executive Board (became Cabinet on 13 May 2019)
Effective from: 19/03/2015
- Report_Q3 Integrated Report PDF 109 KB View as DOC (1) 202 KB
- Appendix A1 Corporate Integrated Report PDF 615 KB
- Appendix A2 Corporate Integrated Report PDF 34 KB
- Appendix B1 City Regeneration Integrated Report PDF 414 KB
- Appendix B2 City Regeneration Integrated Report PDF 35 KB
- Appendix C1 Organisational Development and Corporate Services Integrated Report PDF 580 KB
- Appendix C2 Organisational Development and Corporate Services Integrated Report PDF 177 KB
- Appendix D1 Community Services Integrated Report PDF 470 KB
- Appendix D2 Community Services Integrated Report PDF 33 KB
- Appendix E1 GF Outturn (Dec14) PDF 233 KB
- Appendix E2 Capital Monitoring Report December PDF 188 KB
- Appendix E3 HRA Revenue Monitoring PDF 202 KB