Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2024/227

Contact: Natalie Crawford, Capital Programme Manager,

Natalie.crawford@oxfordshire.gov.uk

Report by Executive Director of Resources and Section 151 Officer (CA14)

The information in this case is exempt in that it falls within the following prescribed categories:

 3. Information relating to the financial or business affairs of any particular person (including the authority holding that information)

and since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Annex 3 containing exempt information under the above paragraph is attached.

The Cabinet is RECOMMENDED 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.

Additions to the Capital Programme

c.     Approve a budget increase for the Speedwell House Redevelopment programme, to be funded from corporate resources. (see paragraph 63 - 65)

d.    Approve the inclusion of £2.500m funding into the Capital Programme to fund a contribution to the Cowley Branch Line.  The expectation is that as far as possible, this will be funded by S106 developer contributions.  Any funding gap will be met through alternative funding sources. (see paragraph 66 - 70)

Budget Changes / Budget Release

e.    Approve the inclusion of £0.868m Active Travel Tranche 5 (ATF5) and a further £2.650m of Consolidated Active Travel Funding (CATF) into the Capital Programme.  This additional funding, announced by Active Travel England, will be divided into £2.050m for capital expenditure and £0.600m revenue expenditure.  Funds will be held in earmarked reserves, pending business cases coming forward.

Recommendations approved.

Cabinet agreed that it was not necessary to exclude the public from the meeting during consideration of this item.

Cabinet had before it the fourth capital programme update and monitoring report for 2024/25 which set out the monitoring position based on activity to the end of January 2025. The report also updated the Capital Programme approved by Council in February 2025 taking into account additional funding and new schemes.  The updated programme also incorporated changes agreed through the Capital Programme Approval Reports to Cabinet during the year as well as new funding.

Councillor Dan Levy, Cabinet Member for Finance, presented the report.  He explained the background to the current position regarding the capital programme and details of schemes for which approval was requested.

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

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.

Additions to the Capital Programme

c.     Approve a budget increase for the Speedwell House Redevelopment programme, to be funded from corporate resources. (see paragraph 63 - 65)

d.    Approve the inclusion of £2.500m funding into the Capital Programme to fund a contribution to the Cowley Branch Line.  The expectation is that as far as possible, this will be funded by S106 developer contributions.  Any funding gap will be met through alternative funding sources. (see paragraph 66 - 70)

Funding Updates

e.    Note £0.868m of Active Travel Tranche 5 (ATF5) funding and a further £2.650m of Consolidated Active Travel Funding (CATF). This additional CATF funding, announced by Active Travel England, will be divided into £2.050m for capital expenditure and £0.600m revenue expenditure.  Funds will be held in earmarked reserves, pending business cases coming forward.