Agenda item

Report of Assistant Director Finance (S151 Officer)

Purpose of report

To report to Executive the council’s forecast yearend financial, performance and risk position as of the end of Quarter 2 2025.

Recommendations

The Executive resolves:

1.1           To consider and note the contents of the council’s finance, performance, and risk management report as at Quarter 2.

1.2           To approve the reprofiling of projects in the capital programme as set out in Appendix 1. 

1.3           To approve £0.040m of Rural England Prosperity Funding for the enhancement of Park Hill Recreation Ground in Kidlington.

1.4           To approve the transfer of Extended Producer Reliability grant (£1.4m) to sit within Environmental Services from Executive Matters (This report has been drafted on the assumption that this has been actioned).

1.5           To approve the virement of £85k from Health & Wellbeing (this budget was originally intended for the heating hardship fund, however, the Government re-instated the winter fuel allowance national scheme, so this is no longer required) to Environmental Services for the Councils contribution to the Oxfordshire Waste & Environmental Services Programme.

1.6           To approve the proposed write offs as set out in exempt Appendix 8.

Resolved

(1)            That the council’s finance, performance, and risk management report as at Quarter 2 be noted.

(2)            That the reprofiling of projects in the capital programme (Appendix 1 to the report) be approved. 

(3)            That £0.040m of Rural England Prosperity Funding for the enhancement of Park Hill Recreation Ground in Kidlington be approved.

(4)            That the transfer of Extended Producer Reliability grant (£1.4m) to sit within Environmental Services from Executive Matters be approved.

(5)            That the virement of £85k from Health & Wellbeing (this budget was originally intended for the heating hardship fund, however, the Government re-instated the winter fuel allowance national scheme, so this is no longer required) to Environmental Services for the Councils contribution to the Oxfordshire Waste & Environmental Services Programme be approved.

(Recommendation 1.6 withdrawn)

The Assistant Director Finance (S151 Officer) submitted a report which reported to Executive the council’s forecast yearend financial, performance and risk position as of the end of Quarter 2 2025.

In introducing the report, the Portfolio Holder for Finance, Property and Regeneration advised that the exempt appendix had been withdrawn and the associated recommendation 1.6 was therefore also withdrawn.

Resolved

(1)            That the council’s finance, performance, and risk management report as at Quarter 2 be noted.

(2)            That the reprofiling of projects in the capital programme (annex to the Minutes as set out in the Minute Book) be approved. 

(3)            That £0.040m of Rural England Prosperity Funding for the enhancement of Park Hill Recreation Ground in Kidlington be approved.

(4)            That the transfer of Extended Producer Reliability grant (£1.4m) to sit within Environmental Services from Executive Matters be approved.

(5)            That the virement of £85k from Health & Wellbeing (this budget was originally intended for the heating hardship fund, however, the Government re-instated the winter fuel allowance national scheme, so this is no longer required) to Environmental Services for the Councils contribution to the Oxfordshire Waste & Environmental Services Programme be approved.

Reasons

The report updates the Committee on the projected year-end financial position of the council for 2025/26, Quarter 2 performance position and updated Leadership Risk Register. Regular reporting is key to good governance and demonstrates that the council is actively managing its financial resources sustainably.

Alternative options

Option 1: This report summarises the council’s forecast financial position up to the end of End of Year 2026, and a snapshot of our Performance and Risk position for Quarter 2 2025-26, therefore there are no alternative options to consider.