Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2024/200

Contact: Kathy Wilcox. Head of Financial Strategy

Kathy.wilcox@oxfordshire.gov.uk

Report by Executive Director of Resources & Section 151 Officer (CA13)

The Cabinet is RECOMMENDED to

a) Note the report and annexes.

b) Approve the virement requests in Annex B-2a and note the requests in Annex B-2b.

c) Approve the use of Homes for Ukraine grant funding as set out in Annex C and authorise the Executive Director of Resources to update funding agreements with the City and District Councils accordingly.

Recommendations approved.

Cabinet considered a report presenting the July 2024 performance, risk, and finance position for the council. The business management reports were part of a suite of performance, risk and budget documents which set out the council’s ambitions, priorities, and financial performance.

Councillor Dan Levy, Cabinet Member for Finance, presented the report. He referred, in particular, to the performance indicators requiring specific attention and the work taking place to ensure the Council achieved its financial targets set out in its budget.

Members referred, in particular, to the forecast deficit in the High Needs Block of the Dedicated Schools Grant (DSG).  The timing of the general election had affected the announcement of the overall DSG, potentially impacting school budgeting cycles.  

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

RESOLVED to:-

a) note the report and annexes.

b) approve the virement requests in Annex B-2a and note the requests in Annex B-2b.

c) approve the use of Homes for Ukraine grant funding as set out in Annex C and authorise the Executive Director of Resources to update funding agreements with the City and District Councils accordingly