Decision

The Executive has decided to approve the financial performance report of the Council in 2024/25, including investments in temporary housing and transfers to Earmarked Reserves.

Analysis

outcome: The Executive approved the recommendations of the report, including carrying forward the capital budget and approving transfers to Earmarked Reserves.

summary: The decision at stake is the financial performance report of the Council in 2024/25, including overspending on services and investments in temporary housing.

topline: The Executive has decided to approve the financial performance report of the Council in 2024/25, including investments in temporary housing and transfers to Earmarked Reserves.

reason_contentious: This issue may be contentious as it involves overspending on services and investments in temporary housing, which could be debated by local stakeholders.

affected_stakeholders: ["Council members", "Local residents", "Service providers"]

contentiousness_score: 5

political_party_relevance: There are no mentions or implications of political parties or political influence on the decision.

URL: https://meetings.westoxon.gov.uk/ieDecisionDetails.aspx?ID=435

Decision Maker: Executive, Council

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose:

Content: Councillor Alaric Smith, Executive Member for Finance, presented the item, the purpose of which was to report the financial performance of the Council in 2024/25.   Councillor Smith advised that:   ·         The original budget provided for a contribution to general fund reserve of £5,107. During the year the Council had been consistently forecasting a cost of service overspend, mitigated by an overachievement of interest on Treasury Management activities. ·         At year end overspend on services had amounted to £247,274. The main adverse variances were expenditure on temporary emergency accommodation and the loss of Housing Benefit Subsidy. ·         The number of people in emergency accommodation was a situation that the Council did not want to persist. Therefore, £3m had been included in the Capital Programme to purchase high quality temporary housing in the district to mitigate this. ·         Costs had been incurred in respect of the Elmfield refurbishment, and unlet units at Marriotts Walk. However, both assets remained good investments. ·         The £200k contingency on the leisure contract had proved to be unnecessary. ·         Treasury management investment income was higher than budgeted due to high interest rates. ·         Performance on trade waste was positive, and this had resulted in an underspend in this area. This was driven by Officers’ work to ensure that correct charging was applied and customers moved to direct debit payments. ·         At the end of the year the Council was able to make a contribution to general fund of £6,345. ·          In relation to capital spend, the first phase of the waste vehicle fleet replacement was now incorporated into a county wide waste transformation programme. ·         The decarbonisation of Witney Leisure Centre was the subject of a separate report which had been brought to this meeting of the Executive.   Councillor Smith proposed accepting the recommendations of the report.   Councillor Enright seconded the recommendations   This was voted on and approved unanimously.   RESOLVED: That the Executive: 1. Noted the 2024/25 financial performance. 2. Recommend to Council to carry forward the capital budget of £4,951,242. 3. Recommend to Council to approve the transfers to and between Earmarked Reserves as detailed in the report.

Date of Decision: July 9, 2025