Agenda and minutes

To receive any announcements from the chair. 

The chair welcomed everyone to the meeting, outlined the procedure to be followed and advised on emergency evacuation arrangements.

To record apologies for absence. 

There were no apologies for absence.

To adopt and sign as a correct record the minutes of the Cabinet meeting held on 17 October 2024.

RESOLVED: to approve the minutes and the confidential minutes of the meeting held on 17 October 2024 as a correct record and agree that the Chairman sign them as such.

To receive declarations of disclosable pecuniary interests, other registrable interests and non-registrable interests or any conflicts of interest in respect of items on the agenda for this meeting. 

There were no declarations of interest.

To receive notification of any matters which the chair determines should be considered as urgent business and the special circumstances which have made the matters urgent. 

The leader of the council provided an update regarding the government’s white paper on devolution. It was explained that upper-tier councils were providing responses deciding if they want to be in the first tranche of local government reorganisation. They had written to the leader of Oxfordshire County Council and urged them to apply for inclusion in the first tranche to avoid prolonged uncertainty for both residents and staff.

The leader also discussed the need for alignment with existing cross-county bodies, such as the Integrated Care Board (ICB), covering Buckinghamshire, Oxfordshire and Berkshire West.

To receive any questions or statements from members of the public that have registered to speak. 

There were no speakers registered to address Cabinet.

To consider the report from the head of finance.

Cabinet received the budget setting 2025/26 update report, from the head of finance. The report provided Cabinet with an update of the progress made to date in preparing the proposed revenue budget for 2025/26 and the capital programme for 2025/26 to 2029/30. It also reported on the funding issues that needed to be considered when council sets a revenue budget and capital programme in February 2025.

The cabinet member for finance introduced the report on the revenue and capital budget preparation, which built upon the budget scene setting report Cabinet considered in October 2024. It was confirmed that whilst most the base budget exercises were complete, some minor updates were expected before the final budget would be published in February. A broadly balanced budget proposal was expected, although this wouldn’t account for potential discretionary changes, such as council tax increases or savings measures. It was reported that the government had confirmed that there would be no reduction in core revenue spending power, assuming that council tax would be increased by £5. Additionally, investment income was higher than previously expected, which would increase the amount in reserves for future years. The cabinet member also mentioned the potential impact of new packaging regulations, which could provide additional income for the council in the short term.

During discussion, it was confirmed that the council would continue with a five-year medium-term financial plan (MTFP). Cabinet raised concerns regarding the impact of the government’s white paper on devolution and whether the council should reassess its assumptions, such as the council tax increase, given the uncertain future. It was noted that the white paper was a proposal at that stage and the full implications were yet to be determined and fiduciary duties on members and statutory duties on officers, remain in place.

RESOLVED: that cabinet note the report.

To consider the report from the head of finance.

Cabinet received the Q2 budget monitoring report from the head of finance. The report reviewed the councils expenditure performance and forecast the revenue and capital expenditure outturns for March 2025.

The cabinet member for finance and property assets introduced the item and highlighted that the council’s revenue budget had increased from £23.4 million to £26.4 million. Although, it was noted that this increase reflected the carried forward unspent project budgets from the previous year. Cabinet were informed that the council was expected to have a £4.2 million underspend on service expenditure. Investment income was projected to exceed the budget by £2.4 million, leading to an overall forecasted underspend on £2.6 million by the halfway point of the financial year. It was explained that the approved capital programme stood at £38.6 million, with £10.9 million spent so far.

During discussion, Cabinet asked when the Didcot Garden Town Fund would be transferred to a reserve for clearer reporting. It was explained that this change would occur after the budget was finalised.

RESOLVED: that Cabinet note the contents of the report and support the approach taken by officers.