Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2026/031

Key decision

Contact: Verity Royle, Planning and Reporting Manager (Verity.Royle@oxfordshire.gov.uk)

Report by the Deputy Chief Executive (Section 151 Officer) (CAB17)

To provide background and context to the budget and business planning process for 2027/28.

The Cabinet is RECOMMENDED to:

a)    Note the report and the starting point for the 2027/28 budget;

b)    Approve a five-year period for the medium-term financial strategy to 2031/32 and ten-year period for the capital programme to 2036/37;

c)    Note the high-level timetable for the budget process.

d)    Note the requirement for the Council to set a sustainable balanced budget for 2027/28 which shows how income will equal spending plans.

Cabinet had before it the County Council’s 2027/28 budget report which outlined the need to set a balanced budget amid funding reductions from the Fair Funding Review 2.0, with a medium-term financial strategy extending to 2031/32 and a capital programme to 2036/37.  The report addressed service demands, inflation, council tax increases, and risks including social care pressures and Dedicated Schools Grant deficits, while planning for Local Government Reform in 2028 and engaging public consultation, with final budget approval scheduled for February 2027.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation presented the report.

Councillor Levy moved and Councillor Gregory seconded the recommendations and they were approved.

RESOLVED to:-

a)      Note the report and the starting point for the 2027/28 budget;

b)     Approve a five-year period for the medium-term financial strategy to 2031/32 and ten-year period for the capital programme to 2036/37;

c)      Note the high-level timetable for the budget process.

d)     Note the requirement for the Council to set a sustainable balanced budget for 2027/28 which shows how income will equal spending plans.