The Oxfordshire County Council meeting on 10 February 2026 approved the 2026/27 Pay Policy Statement and adopted a balanced budget for 2026/27 to 2030/31, including a council tax precept of £567,372,273.74 and a Band D council tax of £2,006.78. The council also approved its Capital Programme for 2026/27 to 2036/37 and its Treasury Management Strategy Statement and Annual Investment Strategy for 2026/27.

Budget and Business Planning 2026/27 - 2030/31

The council approved the budget for the upcoming financial year and the medium-term financial plan. This included setting the council tax precept at £567,372,273.74, resulting in a Band D council tax of £2,006.78. The budget for 2026/27 was approved, along with the medium-term financial strategy for 2026/27 to 2030/31. The Earmarked Reserves and General Balances Policy Statement for 2026/27 was also approved, with specific adjustments to the Budget Priorities Reserve and Grants and Contributions Reserve.

Pay Policy Statement 2026/27

The council approved and adopted the 2026/27 Pay Policy Statement, which outlines the council's approach to employee remuneration in accordance with the Localism Act 2011. This statement will be published on the council's website and intranet.

Capital Programme 2026/27 - 2036/37

The council approved its Capital Programme for the next decade. This programme includes significant investments in various areas, such as:

• Pupil Places: £228.9 million for school expansions and new school provisions, including £104.9 million for existing demographic pupil provision and £125.0 million for new schools.
• Major Infrastructure: £663.2 million allocated for projects including the HIF 1 and HIF 2 programmes, Kennington Bridge replacement, and the A40 corridor improvements.
• Highways Asset Management Plan: £270.4 million for the maintenance and improvement of roads, footways, cycleways, and drainage systems.
• Property Strategy: £119.7 million for projects such as the new Bicester Household Waste and Recycling Centre, and improvements to libraries in Banbury, Didcot, Wantage, and Goring.
• ICT, Digital & Innovation Strategy: £10.9 million for modernising the council's technology estate.
• Passported Funding: £23.7 million for various schemes, including Disabled Facilities Grants.
• Vehicles and Equipment: £26.1 million for the replacement of vehicles and equipment.

The programme is financed through a combination of Section 106 developer contributions, Community Infrastructure Levy (CIL) funding, grants, capital receipts, revenue contributions, and prudential borrowing.

Treasury Management Strategy Statement and Annual Investment Strategy 2026/27

The council approved its Treasury Management Strategy and Annual Investment Strategy for 2026/27. This strategy outlines the council's approach to managing its borrowing and investments, with a focus on security of capital and liquidity. The forecast average cash balance for 2026/27 is £345 million. The strategy includes updated lending limits and maintains the policy of internal borrowing where beneficial, while also exploring the option of issuing a green bond. The council will continue to monitor investment performance and adhere to credit quality criteria for all financial instruments.

Other Discussions

The meeting also included discussions on:

• Official Communications: The Chair announced that Oxfordshire County Council had retained its Gold Award in the Armed Forces Employer Recognition Scheme. Tributes were paid to former councillors David Nicholson and Ian Hudspeth.
• Appointments: Amendments to the Scheme of Delegation for the Cabinet were noted.
• Petitions and Public Address: A petition was presented calling for a weight limit on Hinksey Hill. Councillor Roberts, Cabinet Member for Place, Environment and Climate Action, responded that alternative designs and specifications for a Weight Limit Traffic Regulation Order were being explored.
• Pay Policy Statement 2026/27: The council approved the adoption of the 2026/27 Pay Policy Statement.

The meeting also featured a roll call vote on amendments proposed by the Labour and Cooperative Group and the Oxfordshire Alliance regarding the Budget and Business Planning report, both of which were lost. Amendments proposed by the Green Group concerning the Capital Programme were withdrawn before being formally moved.