Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2025/181

Contact: Kathy Wilcox, Head of Corporate Finance

Kathy.wilcox@oxfordshire.gov.uk

Report by the Executive Director of Resources and Section 151 Officer (CA18)

Cabinet is RECOMMENDED to

a)    Note the report and annexes.

b)    Note that c£6.6m funding for pay inflation added to service area budgets is included in the virements relating to funding changes (paragraphs 27).

c)    Approve the following debt write offs as detailed in paragraph 28

d)    Approve the change to the Dedicated Schools Grant (DSG) High Needs Block 2025/26 updated budgeted deficit (paragraphs 33 - 37).

Recommendations approved.

Cabinet had before it a detailed financial update report for 2025/26. It provided a comprehensive overview of the council’s revenue forecast, budget updates, savings and investments, pay inflation, debt management, and specific financial challenges such as the Dedicated Schools Grant (DSG) High Needs Block deficit. The report also included annexes with detailed financial data and reserves information.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation presented the report.

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

RESOLVED to:-

a)    Note the report and annexes.

b)    Note that c£6.6m funding for pay inflation added to service area budgets is included in the virements relating to funding changes (paragraphs 27).

c)    Approve the following corporate debt write offs as detailed: (paragraph 28)

Historic supplier account balance  - £11,006 (credit)

Historic supplier account balance  - £10,333

d)    Approve the change to the Dedicated Schools Grant (DSG) High Needs Block 2025/26 updated budgeted deficit (paragraphs 33 - 37).