Agenda

Agenda

Speaking at a Council or Committee meeting

Venue: Plowman Room - Oxford Town Hall. View directions

Contact: Andrew Brown, Scrutiny Officer 

Items
No. Item

1.

Apologies

Quorum for the Panel is 3 Members and substitutes are not allowed.

2.

Low Carbon Hub funding model

Invited:

Steve Drummond, Non-Executive Director (Investment), Low Carbon Hub;

Nigel Kennedy, Head of Financial Services, Oxford City Council.

 

Steve Drummond from the Low Carbon Hub (LCH) has been invited to speak with the Panel about the LCH funding model. 

 

This is a discussion item and the Panel may wish to explore:

 

-       Whether and how this model could be applied by the City Council, for example to generate funding for new affordable housing,

-       The financial implications, risks and resource implications of doing so,

-       How this model compares with other options for generating capital funding,

-       Whether the Panel wishes to produce a report with one or more recommendations to the City Executive Board, which meets on 12 November and 17 December.

 

Steve Drummond has offered to follow up with written materials afterwards if appropriate.

3.

Update on EU funding pdf icon PDF 50 KB

Invited:

Matthew Peachey, Economic Development Manager

Nigel Kennedy, Head of Financial Services

 

The Finance Panel’s European funding report was considered by the City Executive Board on 14 May 2015.

 

The Economic Development Manager has provided a briefing note on EU funding opportunities.  This includes a written update on the 9 EU funding scrutiny recommendations for the Panel to monitor progress.

 

 

 

 

4.

Medium Term Financial Strategy 16/20 pdf icon PDF 44 KB

Invited:

Nigel Kennedy, Head of Financial Services

 

The Chair requested a briefing on the Council’s current financial position, including the possible impacts of recent government announcements and the temporary moratorium on General Fund and HRA capital expenditure.

 

This briefing note to the Cross Party Working Group outlines the broad challenges and issues for the preparation of the budget.

 

The following documents are also included to inform this discussion:

-       General Fund Capital Programme 2015-16 to 2020-21;

-       HRA Budget 2015-16 to 2024-25;

-       HRA Capital Programme 2015-16 to 2024-25.

 

 

 

Additional documents:

5.

Budget Review 2016/17 - Draft Project Scope pdf icon PDF 88 KB

Invited:

Nigel Kennedy, Head of Financial Services

 

The Finance Panel is responsible for scrutinising the Council’s annual budget and medium term financial strategy.

 

A draft project scope and timetable for the 2016/17 Budget Review are included and the Panel is asked to:

  1. approve and comment on the focus for the budget review;
  2. approve and comment on the suggested timetable (appendix 1);
  3. agree the membership of the Review Group (normally Finance Panel members);
  4. agree the date of the first Budget Review meeting (14 or 15 December) and diarise the other meeting dates.

 

Additional documents:

6.

Work programme pdf icon PDF 25 KB

For the Panel to review and note its work programme.

7.

Future Meeting Dates

The next Finance Panel meeting to be held in public is on 28 January 2016 at 5.30pm.

 

The annual Budget Review will take place in the meantime (dates to be agreed at this meeting).