Purpose

To Note the Financial Monitoring Report

Decision

It was RESOLVED: -

1. 1.1          That Cabinet noted the General fund 2025/26 revenue deficit of £1.270m against a budgeted deficit of £633k, an adverse variance of £637k 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 4.11);

a)     The transfer of £637k from the financial risk & resilience reserve in addition to the budgeted amount of £633k.

b)    The transfer of £533k from the financial risk & resilience reserve to fund historical council tax and business collection fund adjustments.

c)     The transfer of £938k from the ECL Reserve to fund MRP charges.

d)    The transfer of £275k from the Pooled Funds reserve to fund MRP charges.

e)     The transfer of £878k of EPR income to the Waste Reserve to fund the new waste services in 2026/27.

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 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 £9.010m at 31 March 2026 in Appendix B.
3. 1.5 That Cabinet noted the capital programme spend of £9.045m for 2025/26 and the associated capital financing in Appendix C.
4. 1.6 That Cabinet approved the Capital carry forwards of £4.850m 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.

Any Declarations of Interests Declared: None

Any Dispensation Granted: None