Agenda item

Capital Programme Monitoring Report - August 2022

Cabinet Member: Finance

Forward Plan Ref: 2022/066

Contact: Kathy Wilcox, Head of Financial Strategy

Report by Director of Finance (CA7).

Financial Report on capital spending against budget allocations, including any necessary capital programme approvals.

The Cabinet is RECOMMENDED to:

OCC Capital revised programme and prioritisation

a) Endorse the capital prioritisation framework (Annex 1)

b) Approve the review of the OCC Capital Programme (paragraph 13)

c) Approve the latest capital monitoring position for 2022/23 (Annex 2) and the associated updated capital programme at Annex 3, incorporating the changes set out in this report

d) Note the approval made under delegated authority of the Leader of the Council for:

i. Marlborough School (paragraph 24)

e) Approve the updated budget requirements:

i. Orion School (paragraph 22)

ii. Banbury Library (paragraph 48)

Re-profiling

f) Agree the re-profiling (Annex 2 and 3)

Funding

g) Agree the inclusion in the Capital Programme of the following grant funding updates and allocation:

i. Active Travel Phase 3 of £10.4m (Paragraph 57),

ii. Bus Service Implementation Plan of £8.7m (Paragraph 58)

h) To note the inclusion of £10m towards Oxford Station (OCC acting as the accountable body on behalf of the OxLEP) (paragraph 59)

Future Oxfordshire Partnership’s (FOP) Housing and Growth Deal

i) Note the Housing and Growth Deal revised programme as approved by the Future Oxfordshire Partnership and note the implications for the Council's Capital Programme (paragraph 39)

j) Note the approval made under delegated authority of the Leader of the Council for schemes that are part funded by the Council and other funding sources including the housing and growth deal:

· A40 Oxford North (Northern Gateway) Scheme (Paragraph 28),

· Science Transit Phase 2 (Eynsham Park and Ride) (Paragraph 29)

· Benson Relief Road (paragraph 34)

Minutes:

Cabinet received the second capital programme update and monitoring report for 2022/23, setting out the monitoring position for 2022/23 based on activity to the end of August 2022 and providing an update to the Capital Programme approved by Cabinet in July 2022 taking into account additional funding and new and/or changes to schemes.

Before considering the report, the Chair had agreed to the following request to speak on the item.

Councillor Charlie Hicks noted that there was no reference to the Local Transport and Connectivity Plan (LTCP) in the principles for the prioritisation framework.

Councillor Calum Miller, Cabinet Member for Finance, proposed an amendment to add a reference to the LTCP. He stated that the report was the result of a need to review the capital programme in light of inflationary pressures. The prioritisation principles were set out in Annex 1 and the changes following its application were summarised in paragraph 13.

All of the Oxfordshire councils were collectively responsible for the growth deal funding decisions under the Future Oxfordshire Partnership. The County Council needed to ensure that the proposals from the FOP were consistent with the County Council’s responsibility to account for the overall capital expenditure.

Councillor Miller highlighted paragraphs 38 and 39 referring to £30m in funding not yet received from central government. The Chief Executive had written to central government on this issue the previous day.

The following amendment was agreed:

In Annex 1, Agenda Page 39, 6^th Principle: “Major Infrastructure schemes align to OXIS prioritisation”

Append “and LTCP targets.”

The recommendations as amended were proposed by Councillor Miller, seconded by Councillor Enright and agreed.

RESOLVED to: