Purpose

To Note the Financial Monitoring Report

Decision

It was RESOLVED: -

1. 1.1.That Cabinet noted the General fund 2025/26 revenue surplus of £4.633m against a budgeted surplus of £2.383m a favourable variance of £2.250m as shown in Appendix A.
2. 1.2.That Cabinet approved the following transfers to/from earmarked reserves (further details can be found in section 4.8 of the report);

a)   The transfer of £2.250m to the Mid Suffolk Plan Implementation reserve in addition to the budgeted amount of £2.383m for the surplus in the financial year.

b)  The transfer of £165k from the Pooled Funds reserve to fund the loss on sale of the Schroder Fund.

c)   The transfer of £203k from the Homelessness reserve to fund costs incurred in the financial year.

d)  The transfer of £976k of EPR income to the Waste Reserve to fund the new waste services in 2026/27.

e)   The transfer of £3.1m to the Mid Suffolk Plan Implementation reserve in addition to the budgeted amount of £2.9m relating to the dividend received from Gateway 14 Ltd.

1. 1.3.That Cabinet approved the delegation to the Director of Finance & Procurement and S151 Officer in consultation with the Cabinet Member for Finance & Resources to make final changes to the reserve transfer subject to items identified through the Statement of Accounts preparation and audit.
2. 1.4.That Cabinet noted the reserves position of £49.2m at 31 March 2026 in Appendix B.
3. 1.5.That Cabinet noted the capital programme spend of £23.318m for 2025/26 and the associated capital financing in Appendix C.
4. 1.6.That Cabinet approved the carry forwards of £5.058m from 2025/26 to 2026/27 as per Appendix D
5. 1.7.That Cabinet noted the Prudential Indicators in Appendix E as required by the CIPFA code

REASON FOR DECISION

To ensure that Members were kept informed of the financial position for both General Fund Revenue and Capital and to approve the earmarked reserve transfers.

Alternative Options Considered and Rejected:

The recommended options were set out in the recommendations. There were no other options considered.

Any Declarations of Interests Declared: None

Any Dispensation Granted: None