Issue - meetings
2025/26 Quarterly Finance Review Q4
Meeting: 22/07/2026 - Council (Item 130)
130 2025/26 Quarterly Finance Review Q4 
PDF 469 KB
Purpose
To report the financial performance of the Council in 2025/26.
Recommendation
That Council resolves to:
1. Agree to carry forward the capital budget of £4,395,180. (Paragraph 5.2);
2. Approve the transfers to and between Earmarked Reserves as detailed in the report (Section 4);
3. Approve the necessary budget virements related to Publica Phase 2. (Paragraph 2.27).
Additional documents:
- Annex A, item 130
PDF 476 KB
- Annex B, item 130
PDF 371 KB
- Webcast for 2025/26 Quarterly Finance Review Q4
Minutes:
Councillor Alaric Smith, Executive Member for Finance, introduced the report. The purpose of the item was to report the financial performance of the Council in 2025/26.
Councillor Smith included the following in his introduction;
- That the Council had a positive year-end position with a £203,000 surplus, an improvement on the budgeted forecast. Cllr Smith attributed this to strong income performance, higher-than-expected investment returns, and reduced costs in several areas.
- The surplus had enabled the Council to strengthen its financial resilience through contributions to earmarked reserves, including funding for local government reorganisation, waste and environmental services improvements, asset maintenance, hardship support schemes, and affordable housing initiatives.
- There had been progress in delivering the capital programme, including investment in temporary accommodation, while it was acknowledged that some projects had been reprofiled into the following financial year.
- Although the outturn was positive, significant medium-term financial challenges remained and continued financial discipline would be required. The Council was in a strong position to support residents' interests during the local government reorganisation process.
The Executive Member commended the report to Council.
Another member of the Executive highlighted the success of the Council's investment in town centres, noting increased usage and positive performance of the Witney and Chipping Norton markets under the new operator. They also reported continued strong performance at Marriotts Walk, which had generated a significant financial contribution to support Council services and increased footfall in Witney town centre.
Councillor Andy Graham seconded the recommendations within the report, which were put to a vote and agreed.
Council resolved to:
1. Agree to carry forward the capital budget of £4,395,180. (Paragraph 5.2);
2. Approve the transfers to and between Earmarked Reserves as detailed in the report (Section 4);
3. Approve the necessary budget virements related to Publica Phase 2. (Paragraph 2.27).
For 38, Abstention 1, Against 0
Meeting: 10/06/2026 - Executive (Item 495)
495 Financial Performance Report 2025/26 Year End PDF 469 KB
Purpose:
To report the financial performance of the Council in 2025/26.
Recommendations:
That the Executive:
- Note the 2025/26 financial performance;
- Recommend to Council to carry forward the capital budget of £4,395,180. (Paragraph 5.2);
- Recommend to Council to approve the transfers to and between Earmarked Reserves as detailed in the report (Section 4);
- Recommend to Council to approve the necessary budget virements related to Publica Phase 2. (Paragraph 2.27).
Additional documents:
- Annex A, item 495
PDF 476 KB
- Annex B, item 495
PDF 371 KB
- Webcast for Financial Performance Report 2025/26 Year End
Minutes:
Councillor Andy Graham presented the item, the purpose of which was to report the financial performance of the Council in 2025/26.
In his presentation, Councillor Graham made the following points:
· The financial outturn had been better than initially budgeted, moving from an anticipated modest contribution to a £203,155 surplus.
· This improvement was attributed to strong income, notably from trade waste and development management, higher treasury returns (c. £800k additional income), and cost efficiencies, including lower one-off costs and partner refunds.
· Resources had been transferred into earmarked reserves to support the delivery of future priorities, including Local Government Reorganisation.
· There was a continued emphasis on housing delivery and climate objectives, recognising their importance to long-term community sustainability and affordability.
· The report demonstrated effective in-year financial management, proactive risk mitigation, and informed decision-making.
Councillor Andy Graham proposed the recommendations in the report.
There were no alternative options, as the report was for noting previous financial performance only.
Councillor Duncan Enright seconded the proposal.
The Executive voted on the recommendations, which were agreed unanimously.
The Executive resolved to:
1. Note the 2025/26 financial performance.
2. Recommend to Council that it carry forward the capital budget of £4,395,180 (paragraph 5.2).
3. Recommend to Council that it approve the transfers to and between earmarked reserves as detailed in the report (section 4).
Recommend to Council that it approve the necessary budget virements related to Publica Phase 2 (paragraph 2.27).