Agenda item

To receive and consider the report of the Responsible Financial Officer (RFO) with an update on the current year’s work programme relating to Capital and Special Revenue Projects; as well as projects identified during the course of the year for inclusion as Revenue Growth Items or Special Revenue Projects in the Council’s Revenue Budget or Capital Projects for 2025/26 and beyond.

The Committee received and considered the report of the RFO concerning the financial standing of the Council’s current and future projects.

Members were advised of the funding streams and budgets in place for the revised capital and special revenue projects for 2023-26 and what was needed in order to bring about their completion.

Items proposed as capital and special revenue projects for 2024/25 and beyond included funding for the Councils programme of large projects and accrual of parcels of land to its portfolio, although these would add additional strain on its finances. Members were pleased to hear of the progress of these facilities being transferred over to the Council’s ownership.

Members noted that the costs indicated in the report regarding the transfer of sports pitches at Windrush Place, Ralegh Crescent and Deer Park were only reflective of the ground maintenance of the grassed surfaces and that due to the overall land area, estimated at approx. 55,000 square metres, then the costs would increase when additional staffing and machinery were taken into account.

Members heard further from the Head of Estates & Operations (HoE&O) regarding the advances on the Splashpark specification and tender process which was still on target for delivery in May 2025. In response to a Member’s question, the Town Clerk/CEO confirmed that money would continue to be placed in a sinking fund for both the Splashpark and for the newly developed Wheeled Sports Park to ensure the facilities are futureproofed.

The Committee was disappointed to hear of the lack of progress from Oxfordshire County Council in their response to the Leys parking restrictions and Traffic Regulations Order which had slowed however, the HoE&O assured Members that Officers continue to push for a response.

Recommended:

1.      That, the report be noted and,

2.      That, the revenue growth items for 2025/26 and revised capital and special revenue project budget for 2023-26 be approved.