The Finance Overview and Scrutiny Committee of Wandsworth Borough Council was scheduled to meet on 9 October 2025 to discuss the borough's finances. The agenda included the Medium Term Financial Strategy, the Capital Programme, and the legacy of Wandsworth's year as the London Borough of Culture. The committee was also expected to discuss and develop its work programme.

Medium Term Financial Strategy and Transformation Programme

The committee was scheduled to receive an update on the Medium Term Financial Strategy (MTFS) and the Transformation Programme. The MTFS models income, expenditure, and resource requirements, aligning financial plans with the council's corporate objectives. The MTFS and Transformation cover report stated that the Finance Overview and Scrutiny Committee was being asked to consider the MTFS and Transformation Programme update as a forward-looking scrutiny exercise that supports budget setting and strategic planning.

The MTFS relies on investment in a council-wide Transformation Programme, which aims to find new ways of working through innovation, challenge, and digital and technological advancements. The 25-326 WBC MTFS FINAL 2 document notes that the council needs to innovate at scale to continue to make a difference to Wandsworth.

The 25-326 WBC MTFS FINAL 2 document also stated that the financial outlook for the council's General Fund revenue framework has changed significantly since the last update in February, primarily due to national funding reforms. Escalating demand and rising costs for statutory services, particularly social care and homelessness, continue to put pressure on the budget. The council is launching an ambitious Transformation Programme to support the delivery of a balanced MTFS and advance the council's vision of becoming a fairer, compassionate, and more sustainable borough.

The 25-326 WBC MTFS FINAL 2 document also noted particular risk factors, including:

• Loss of government grant funding
• Business rates retention
• Inflation and interest rates
• Income
• Cost of living crisis
• Rising homelessness
• Welfare reform
• Social care - adults
• Social care - children
• Pressure on the Dedicated Schools Budget
• Pension Fund valuation

The 25-326 WBC MTFS FINAL 2 document stated that the council is committed to making Wandsworth fairer, compassionate and more sustainable, and that the revised budget framework includes the financial impact of the key priorities within the Corporate Plan 2022-26.

Capital Programme

The committee was scheduled to discuss the Capital Programme, with a report by Fenella Merry, Executive Director of Finance. The Capital Programme cover report stated that the Finance Overview and Scrutiny Committee was being asked to consider the Capital Programme to scrutinise its delivery performance, funding strategy, and alignment with council priorities.

The 25-26 GF Capital Programme Update Cabinet document detailed a proposed Committed Capital Programme of £261.5 million and a Development Pool of £162.2 million.

The potential sources of finance for the council's capital programme are:

• grants earmarked for particular schemes or services
• government capital grants not earmarked for particular schemes or services
• strategic Community Infrastructure Levy (CIL)¹, Neighbourhood Community Infrastructure Levy (NCIL) and Section 106 payments
• carbon Offset funding
• usable capital receipts and reserves
• contributions from council revenue accounts
• borrowing

The 25-26 GF Capital Programme Update Cabinet document also included the following appendices:

• Appendix A - Detailed Changes
• Appendix B - WBC Programme Summary 03.09.2025
• Appendix C - Flexible Use Of Capital Receipts
• Appendix D - Delivery Of Capital Projects

London Borough of Culture Legacy

The committee was scheduled to discuss the legacy of Wandsworth's year as the London Borough of Culture (LBOC). The LBOC Legacy report stated that Wandsworth is in the midst of delivering a successful LBOC programme, exceeding expectations by delivering a broad range of events and projects across all wards, engaging a wide network of partners and creatives, and raising the profile of Wandsworth.

The programme is starting to examine the legacy of Wandsworth being London Borough of Culture, with a simple framework based on people, partnership, place, and purpose beginning to emerge. The primary goal of the programme's legacy is to build on the momentum of LBOC to create a more connected and engaged community.

The LBOC Legacy report also noted that LBOC is transforming the way the council works, proving that it can work at pace and quality by collaborating externally with a diverse range of partners to drive delivery and leverage new capacity. The council faces significant financial challenges next year, and needs to look at how it leverages existing and planned projects to serve as part of the LBOC cultural legacy.

The LBOC Legacy report included a slide deck outlining the programme's delivery to date and sharing emerging thoughts on the LBOC legacy, built around four key pillars:

• People
• Partnership
• Place
• Purpose

The LBOC Legacy report stated that through a legacy delivery plan, the council needs to think about how this will feed into the planks of the council's transformation and show that a vibrant cultural offer is central to its vision for the borough.

Work Programme

The committee was scheduled to discuss its work programme. The Scrutiny Work Programming Report final outlined proposed changes to the OSC Work Programmes for discussion.

The Scrutiny Work Programming Report final noted that in July, an informal closed work programming session was convened to begin scoping the OSCs' agendas for the upcoming cycle. At the July work programming sessions, members identified the following areas for potential inclusion in the work programme:

• Medium Term Financial Strategy
• Budget-setting
• Treasury Management
• Capital Programme
• Customer Service
• Change programme and transformation including digital transformation
• Cost of living and financial resilience
• VCS Strategy
• Economic development
• London Borough of Culture legacy
• Complaints
• Key Performance Indicator reporting

The Scrutiny Work Programming Report final also set out guidance to help members develop the OSC work programme, including sources of information, objectives for the committees, and criteria for inclusion in the work programme.

The Forward Plan September 2025 Final was included in the agenda pack. The document lists key decisions to be made by the cabinet or officers with delegated authority.