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Oldham Council - Finance

Oldham Council - Finance. David Hodgkinson Meet the Buyer – 30 th January 2013. Oldham Council operates its financial business on a similar scale to that of major UK companies. Comparison of Oldham Council to Manchester Airport.

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Oldham Council - Finance

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  1. Oldham Council - Finance David HodgkinsonMeet the Buyer – 30th January 2013

  2. Oldham Council operates its financial business on a similar scale to that of major UK companies • Comparison of Oldham Council to Manchester Airport • Oldham Council’s non pay budget over £150m – significant buying power for the local economy

  3. Financial Management at Oldham Council • The fastest local government body to close its accounts by a significant margin - 2011/12 - 25 June 1st Council or public body out of 457 • Debtors reduced by £50m • Budget outturn balanced to within £50k every year for the last 3 years • Accounts Payable payment rates within 30 days – over 95%

  4. Budget Cycle • July Budget timetable issued • Oct / Nov Initial Annual Budget proposals • December National settlement announced • January Scrutiny of Budget Consultation • February Council approval of Budget issue of Council Tax leaflet • April Here we go again

  5. 2012/13 Total Council Funding£226m

  6. Original Revenue Budget 2012-13£226m (Regeneration, street Cleaning, Litter and refuse, parks, Highways) (Social care, adults, safeguarding, homes, vulnerable children) (Internal services)

  7. External Funding – Other sources of income for Oldham Council • Benefitted from over £100,000,000 of other government grants and European funding over 10 years. • Oldham currently has recent access (through AGMA) to: • GMESH (EU)- £10,000,000 • MOBISEC (EU) - £320,000 • Regions 4 Green Growth (EU) - £150,000 • Energy Switching Campaign (DECC) - <£400,000

  8. External Funding – Other sources of income for Oldham Council • Move away from Grants, investing in “evergreen” type funds • Single pot approach to priority projects • Project Pipeline development • GM procurement opportunities with local benefits

  9. NNDR Localisation • Under new government legislation, localisation of Business Rates will occur form 13/14 • This means it will be our incentive to not only attract new enterprises, but to help make a success of our current businesses of all sizes • Oldham Council is committed to the economic development of the borough, e.g. : Mono Pumps Ltd – Large UK based company, sourced and bought to the Borough on the BAe site at Chadderton.

  10. The Future of Oldham • Oldham Council has had to face significant revenue budget cuts, due to the current financial climate and focus on austerity • However, the council will remain a significant part of the local economy, with significant buying power on a local level working alongside our partners such as NHS, Unity, FCHO • Committed to the regeneration – Investment Plan of £106m • Committed to working with Suppliers!

  11. The Future of Oldham -Metrolink, Hotel future, Coliseum, Town Hall

  12. Any Questions?

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