Cllr Simmons, Chair of the Finance Panel presented the report. He mentioned the concern around the Low Carbon Hub not meeting its targets because the threshold has increased due to the drop of the Pound against the Euro. If the target is not met then money will have to be returned to the EU.

The Head of Financial Services said he would be happy to continue to update Councillors on the effect of Brexit on Council finances.

He said that despite the increased target the annual report for the Oxfutures programme (which is run by the Low Carbon Hub) is better than expected and with the Sandford hydro scheme in development he is confident the programme would hit the EU target.

Cllr Tanner said that a meeting of Europeans living in Oxford was to be held in the town hall. It was for people who had expressed concerns about the Brexit vote and the implications the vote might have on European nationals in Oxford.

The Board approved the recommendations set out in the Scrutiny report (page 7 of the supplementary agenda).