Find out what was discussed at the Warwickshire County Council Cabinet meeting on Tuesday 28 January 2025.
Prudent financial management, providing sufficient high quality school places for the county’s children and a move supporting its net zero ambitions were among the key areas of focus of the meeting of Warwickshire County Council’s Cabinet today.
Members were updated on the 2024/25 Financial Monitoring with a forecast based on the position at the end of December. The budget position for 2025/26 was also updated from when it was discussed at December’s meeting in light of the additional £2.421 million awarded in the Local Government Finance Settlement.
A third item examined the Treasury Management Strategy and Investment Strategy, and how the council’s investment portfolio is performing and where successful investment can be put back into the council’s finances to resource services.
Finance remained the subject with a report on the Warwickshire Investment Fund Strategy 2025/26. This Fund has two pillars – the Property Infrastructure Fund (PIF) and Local Community Enterprise (LCE) fund – which provide financial support for infrastructure investment and small business loans for local enterprises respectively.
Cabinet heard that the LCE has loaned £4.4m to 74 businesses to date, safeguarding 347 jobs with a further 300 expected to be created. The PIF has currently loaned £10m with further pipeline loans of £19.7m expected which will support businesses looking to expand in Warwickshire.
Carbon-free travel is key to the council’s commitment to net zero. This received a boost with the approval of a £1.366m investment into the Coventry All Electric Bus City Scheme. In a scheme benefitting both partners, Coventry will be the UK’s first city to have all-electric buses with the fleet serving numerous cross-boundary services on key routes in Warwickshire.
The extension of the Companion Pass Add-on scheme, which gives a concessionary pass for a carer of people who struggle to travel independently, was approved. Giving free off-peak travel, this scheme has supported 83 people with various disabilities to travel and access services in 2024/25. Estimates suggest a further 250-500 might benefit from the continued rollout in the coming year.
The Education Sufficiency Update gave members an overview of how the county is responding to the changing needs of its population and providing sufficient school places for the increasing number of children in Warwickshire caused by new developments and families moving into the county.
The allocation of the Dedicated Schools Grant saw Cabinet approve how the DSG will fund education across the county. Additions to the Education Capital Programme will see eight schools and settings receive funding to enable expansion or adaptation of their premises to meet local need while a SEND Minor Capital Fund was established to undertake small schemes.
Cllr Peter Butlin said: “We continue to face significant challenges, as all local authorities in the country do. Thanks to our prudent financial planning, however, and the measures we put in place, our financial forecast as of the end of quarter 3, shows an improved position.”
The livestream for this meeting can be found here: WCC Cabinet - 28 January 2025