Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2020/026

Contact: Hannah Doney, Head of Corporate Finance Tel: 07584 174654

Report by Director of Finance (CA9).

The report sets out the latest monitoring position for 2020/21 capital programme based on activity to the end of July 2020 and provides an update on latest ten year capital programme to 2029/30.

The Cabinet is RECOMMENDED to approve the updated Capital Programme at Annex 2

Recommendation agreed.

Cabinet had before them a report that set out the latest monitoring position for 2020/21 capital programme based on activity to the end of July 2020 and that provided an update on the latest ten-year capital programme to 2029/30.

Councillor Glynis Phillips, Shadow Cabinet Member for Finance referred to paragraph 25 that referred to the Tranche 1 funding. It referred to the £100k of capital spend this year that left the remaining £200k remaining for revenue Councillor Phillips commented that she had thought all had to be spent by end of August this year. She sought information on how the £100k will be spent.

Referring to the risk register red rag rating for the capital infrastructure programme Councillor Phillips highlighted risks around the Housing Infrastructure Fund (HIF) programme. In addition to the financial risk she observed that there was the reputational risk with government with loss of future funding. She stated that it would be good to hear your level of confidence to meet our commitments and avoid the risks outlined.

Responding to the points made Councillor Constance, Cabinet Member for Environment explained the position with regard to Tranche 1 funding and confirmed that the Department spend had been delivered in projects outside Oxford. Councillor Constance stated that Councillor Phillips had correctly identified the risks relating to the infrastructure delivery programme. This had been addressed and she was confident that it was back on track.

Councillor Bartholomew, Cabinet Member for Finance introduced the contents of the report and moved the recommendations.

RESOLVED:             to approve the updated Capital Programme at Annex 2.