Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2021/183

Contact: Kathy Wilcox, Head of Financial Strategy Tel: 07788 302163

Report by Director of Finance (CA8).

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

The Cabinet is RECOMMENDED to:

a)               Endorse the latest capital monitoring position for 2021/22 set out in Annex 1.

b)              Agree that the following scheme should be added to the capital programme:

·           Sustainable Warmth Fund: £1.187m grant funded project to support the retrofitting of energy efficiency measures in homes in fuel poverty in Oxfordshire.

c)               Agree a contribution of £0.998m, funded by S106 contributions, to the Department for Education (DfE), towards the new Bloxham Grove SEND Free School.

d)              Approve the updated Capital Programme Summary (Annex 2) incorporating the changes set out in this report.

Recommendations agreed

Cabinet had before it the Financial Report on capital spending against budget allocations.

Councillor Calum Miller, Cabinet Member for Finance, highlighted a number of points:

·         There was a reduction of £5.5m in the predicted spend for the current financial year, the majority of which related to rescheduling of infrastructure projects.

·         There was a £2.6m increase in the budget funds for the full ten-year period.

·         Cabinet was asked to approve an allocation from S106 contributions towards the cost increase in the building of a new SEND school in Bloxham.

The Chair put the recommendations.

RESOLVED to:

a)           Endorse the latest capital monitoring position for 2021/22 set out in Annex 1.

b)           Agree that the following scheme should be added to the capital programme:

·                Sustainable Warmth Fund: £1.187m grant funded project to support the retrofitting of energy efficiency measures in homes in fuel poverty in Oxfordshire.

c)           Agree a contribution of £0.998m, funded by S106 contributions, to the Department for Education (DfE), towards the new Bloxham Grove SEND Free School.

d)           Approve the updated Capital Programme Summary (Annex 2) incorporating the changes set out in this report.