Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2026/031

Key decision

Contact: Natalie Crawford, Capital Programme Manager

Natalie.crawford@oxfordshire.gov.uk

Report by the Deputy Chief Executive (Section 151 Officer) (CAB18)

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

The Cabinet is RECOMMENDED to:

Capital Programme

a)    Note the capital monitoring position for 2026/27 set out in this report and summarised in Annex 1.

b)    Approve the updated Capital Programme at Annex 2 incorporating the changes set out in this report.

Budget Changes / Budget Release

c)    Note the proposed release of £4.0m from corporate resources agreed by Council in February 2026 for drainage infrastructure improvements (para 69).

d)    Note the proposed inclusion of Didcot Valley Park SEND school into the capital programme with a development budget of £1.4m (para 70-71).

Funding Updates

e)    Agree the inclusion in the capital programme of the following grant funding updates and allocations:

·       Revise of the previous forecasted value of the School Condition Allocation 2026/27 to £4.645m (para 73).

·       Include the SEN High Needs Capital Allocation 2026/27 of £11.299m to earmarked reserves to address SEN reform requirements (para 74-77).

f)     Note the current over-programming of the capital programme is £10.365m as agreed by Council in February 2026. The impact on the review of corporate resources and the additional funding available through the DfT Transport consolidated funding settlement will be considered as part of the budget process for 2027/28.