Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2024/205

Contact: Natalie Crawford, Capital Programme Manager,

Natalie.crawford@oxfordshire,gov.uk

Report by Executive Director of Finance and Section 151 Officer (CA11)

The Cabinet is RECOMMENDED to:

Capital Programme

1.               Note the capital monitoring position for 2024/25 set out in this report and summarised in Annex 1.

2.               Approve the updated Capital Programme at Annex 2 incorporating the changes set out in this report.

Budget Changes / Budget Release

3.               approve to release £4m of corporate funds back to the capital programme from the Special Education Needs (SEN) Provision Programme due to the additional SEN High Needs Grant funding received between 2021/22 and 2024/25 following the announced funding allocations (paragraph 76).

4.               approve the inclusion of Oxford Community Support Service (CSS) Cowley into the Capital Programme with an indicative budget of £1.078m to be funded from the Asset Rationalisation Programme, Property Decarbonisation Programme and Section 106 funding (paragraph 68). 

5.               approve the change of the use of the budget for the purposes of relocating Banbury Library (paragraph 70).

Recommendations approved.

Cabinet had before it the first quarterly capital programme update and monitoring report for 2024/25 which set out the monitoring position based on activity to the end of May 2024.    The report also provided an update to the Capital Programme approved by Council in February 2024, taking into account additional funding and new schemes. 

Councillor Dan Levy, Cabinet Member for Finance, presented the report and explained the background to the schemes for which approval was requested.

During discussion members welcomed the proposals in the report and referred, in particular, to the opening of Shrivenham Primary School and the relocation of Banbury Library.

RESOLVED to:-

Capital Programme

a)    note the capital monitoring position for 2024/25 set out in this report and summarised in Annex 1.

b)    approve the updated Capital Programme at Annex 2 incorporating the changes set out in this report.

Budget Changes / Budget Release

c)    approve to release £4m of corporate funds back to the capital programme from the Special Education Needs (SEN) Provision Programme due to the additional SEN High Needs Grant funding received between 2021/22 and 2024/25 following the announced funding allocations (paragraph 76).

d) approve the inclusion of Oxford Community Support Service (CSS) Cowley into the Capital Programme with an indicative budget of £1.078m to be funded from the Asset Rationalisation Programme, Property Decarbonisation Programme and Section 106 funding (paragraph 68). 

e)    approve the change of the use of the budget for the purposes of relocating Banbury Library (paragraph 70).