Agenda item

To receive and consider the report of the R.F.O concerning the financial position of items under the remit of this Committee in 2026/27.

The Committee received and considered the report of the Responsible Financial Officer (RFO) detailing income and expenditure for budgets across all Committees, providing a final position for the 2025/26 financial year.

Members heard that the principal change during the year had been the movement of Green Spaces budget lines, mainly from the Stronger Communities Committee to the Climate & Biodiversity Committee. In addition, property budgets had been consolidated into a new cost centre to improve transparency of income and expenditure of these key assets.

The RFO advised that the year-end overall surplus position, along with the status of earmarked reserves, would be presented to the meeting of the Council on 13 July. Members acknowledged that the Council’s overall financial position remained healthy.

The Committee also noted a summary of investment activity, with a more detailed report to follow to the 28 September meeting of the Committee.

In respect of the West Witney Sports & Social Club project, Members received an update on variations in project expenditure. It was noted that these were modest in the context of the overall project cost and not unexpected as part of project delivery where unforeseen matters arise. A further update would be provided to the meeting of the Council on 13 July.

The Committee considered and unanimously approved capital expenditure requests for the purchase of a new mower for fine turf areas (£8,000) and a replacement vehicle for use by the Biodiversity & Green Spaces Officer (£25,000). It was noted that both purchases would be funded from existing earmarked reserves established for such purposes.

Members also noted the external bar stocktake and the current situation with the Internal Audit function of the Council.

Resolved:

1. That, the report be noted, and,
2. That, the management accounts of the Council to 31 March 2026 be approved and,
3. That, the report on investments to the period to 31 May 2026 be approved and,
4. That, the report on investment activity during 2025-26 be approved and,
5. That, the external bar stocktake report for the period to 9 April 2026 be noted and,
6. That, the financial update in relation to the West Witney Project be noted and,
7. That, the capital expenditure for a replacement mower and vehicle be approved with funding to be met from the respective Outside Services Contingency and Renewals fund earmarked reserves and,
8. That, the appointment of Auditing Solutions as Internal Auditor for the financial year 2026-27 be approved and,
9. That, the re-tendering for the Internal Audit function be delegated to officers or the five-year period from 1 April 2027.