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 2025/26.

The Committee received and considered the report of the Responsible Financial Officer (RFO) detailing income and expenditure for budgets which were the responsibility of the committee.

Members were advised work had taken place on making the costs centres more accurate and accurately reflective, on property budgets and VAT. It was noticeable that income and expenditure were higher for the final economic quarter due to the West Witney projects and the loan and payments tied therein, the bulk of the loan having to be drawn down by the end of the fiscal year.

The Committee also welcomed news that the Council’s green energy contract had been renewed, and the Council had been relatively protected from recent changes as officers had accepted a quote prior to energy price rises.

Finally, it was confirmed the Council had continued membership of the Oxfordshire Association of Local Councils due to the support provided which would be especially useful with upcoming Local Government reorganisation.

Resolved:

1.      That, the report be noted and,

2.      That, the management accounts of the Committee’s services to 31 December 2025 be approved and,

3.      That, the endorsement of the actions of officers in agreeing the energy contract with 100 Green for the year commencing 1 April 2026 be noted and,

4.      That, draw downs of two loans totalling £960,000 in relation to the West Witney Project borrowed from the Public Works Loan Board be noted and,

5.      That, the endorsement of the renewal for the subscription to the Oxfordshire Association of Local Councils for the year commencing 1April 2026 for the sum of £4,508 be noted and,

6.      That, the report on investments to the period to 28 February 2026 be approved.