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

2. 2 Oldham Council operates its financial business on a similar scale to that of major UK companies Comparison of Oldham Council to Manchester Airport £mOldham Council Manchester Airport Gross Assets7361,586 Net Assets87762 Gross Expenditure 703308 Staff Costs25070 Oldham Council’s non pay budget over £150m – significant buying power for the local economy

3. 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. 4 Budget Cycle JulyBudget timetable issued Oct / NovInitial Annual Budget proposals DecemberNational settlement announced JanuaryScrutiny of Budget Consultation FebruaryCouncil approval of Budget issue of Council Tax leaflet AprilHere we go again

5. 5 2012/13 Total Council Funding £226m

6. 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. 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. 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. 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. 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. 11 The Future of Oldham - Metrolink, Hotel future, Coliseum, Town Hall

12. Any Questions?