Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2024/212

Contact: Kathy Wilcox, Head of Financial Strategy

Kathy.wilcox@oxfordshire.gov.uk

Report by Executive Director of Resources and Section 151 Officer (CA16)

The Cabinet is RECOMMENDED to:-

a)    Note the report and annexes.

b)    Approve the virement requests in Annex B-2a and note the requests in Annex B-2b

c)    Approve the creation of a new reserve to support costs associated with Local Government Devolution and Reorganisation  and the transfer of £5.0m to the reserve.

d)    Approve the transfer of £3.0m from Adult Services to the Budget Priorities reserve.

Recommendations approved.

Cabinet considered a report presenting the November 2024 performance, risk, and finance position for the council. The business management reports were part of a suite of performance, risk and budget documents which set out the council’s ambitions, priorities, and financial performance.

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

He acknowledged the efforts made by the finance team in preparing the report and providing a comprehensive overview of the council's financial health.

During discussion, members referred to the importance of regular monitoring and evaluation of the council's activities to ensure alignment with strategic goals.

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

RESOLVED to:-

a)    Note the report and annexes.

b)    Approve the virement requests in Annex B-2a and note the requests in Annex B-2b

c)    Approve the creation of a new reserve to support costs associated with Local Government Devolution and Reorganisation  and the transfer of £5.0m to the reserve.

d)    Approve the transfer of £3.0m from Adult Services to the Budget Priorities reserve.