Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2022/220

Contact: Louise Tustian, Head of Insight & Corporate Programmes, Tel: (01295) 221786 / Kathy Wilcox, Head of Financial Strategy, Tel: 07788 302163.

Report by Director of Finance (CA6 )

The Cabinet is RECOMMENDED to

a.     To note the annual Performance Report for 2022/23.

b.    To note the summary of the provisional year - end financial position for 2022/23 along with the year-end position on general balances and earmarked reserves as explained in Annex B.

c.     To note the virements set out in Annex B-2.

d.    To agree that the £1.0m surplus on the On-Street Parking Account at the end of the 2022/23 financial year, that has not yet been applied to fund eligible expenditure in accordance with Section 55(4) of the Road Traffic Regulation Act 1984, can be carried forward to the 2023/24 financial year as set out in Annex B-3c.

e.     to approve the creation of a new reserve to hold £0.5m income relating to the Zero Emissions Zone in Oxford for future use.

Recommendations approved.

Cabinet had before it the Council’s annual performance report and provisional year-end financial position for 2022/23.

Councillor Calum Miller, Cabinet Member for Finance, introduced the report.  He referred to the considerable achievements by the Council during the year which had contributed to its strategic objectives.

The report captured the Council’s response to the cost of living crisis and migration support, the impact on services delivered and described how the Council coordinated and supported the delivery of services. It highlighted that 71% of the Council’s performance indicators were above target or very close to it.

The financial position for 2022/23 reflected the impact of increases in the level of demand for children’s social care and a lack of suitable care placements available in the system as well as inflationary pressures across the council’s services. Action had been taking to manage and mitigate this in 2022/23 and the on-going impact in 2023/24 and over the medium term was considered through the Budget & Business Planning Process for 2023/24. 

During discussion members referred to the considerable progress in provision of adult social care services, which included investing to save, a decrease in waiting lists, and investment in residential care.

Councillor Miller moved, and Councillor Enright seconded the recommendations and they were approved.

RESOLVED to:-

a)    note the annual Performance Report for 2022/23.

b)    note the summary of the provisional year - end financial position for 2022/23 along with the year-end position on general balances and earmarked reserves as explained in Annex B.

c)    note the virements set out in Annex B-2.

d)    agree that the £1.0m surplus on the On-Street Parking Account at the end of the 2022/23 financial year, that has not yet been applied to fund eligible expenditure in accordance with Section 55(4) of the Road Traffic Regulation Act 1984, can be carried forward to the 2023/24 financial year as set out in Annex B-3c.

e)    approve the creation of a new reserve to hold £0.5m income relating to the Zero Emissions Zone in Oxford for future use.