Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2026/033

Key decision

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

Report by Deputy Chief Executive (Section 151 Officer) (CAB16)

To note the report and approve the recommendations. Update on Finance (August month end position), and Risk and Performance Quarter 1.

The Cabinet is RECOMMENDED to:

a)    Note the report and appendixes.

b)    Note the increases to funding following the final settlement (paragraph 21)

c)    Approve the resulting contribution to general balances of £4m (para 36).

d)    Approve the creation of an earmarked reserve to manage fluctuations in commercial income (para 35).

e)    Approve the new Highways fees and charges commencing on 1 August 2026 (para 38 appendix 5)

Cabinet received a report which set out the initial revenue forecast and expected outlook for the financial year 2026-27 and includes updates on:

·       financial risks which are being managed in 2026/27;

·       savings and investment position; and

·       funding notified since the budget was agreed.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation, presented the report. He explained that services were forecasting to remain within budget at month two, while acknowledging financial pressures in social care, highways and pay negotiations.

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

RESOLVED to:-

a)     Note the report and appendixes.

b)     Note the increases to funding following the final settlement (paragraph 21)

c)     Approve the resulting contribution to general balances of £4m (para 36).

d)     Approve the creation of an earmarked reserve to manage fluctuations in commercial income (para 35).

e)     Approve the new Highways fees and charges commencing on 1 August 2026 (para 38 appendix 5)