Purpose

To note the outturn position for the year and approve earmarked reserves.

Decision

RESOLVED that Cabinet:

·       Notes the outturn expenditure for 2025/26, subject to audit, of £102.940m, which represents an underspend of £2.657m compared with the approved budget.

·       Approves the earmarked reserves as set out in Annexe C.

·       Approves the virements up to £0.100m relating to the 2025/26 budget (see Annexe D).

·       Recommends that Council note the Treasury Management performance in 2025/26 as set out in Annexe B.

·       Recommends that Council approves the virements over £0.100m relating to the 2025/26 budget (see Annexe D).

Reasons for the decision

The recommendations are intended to inform the Cabinet of financial performance against budget in the 2025/26 financial year.

Alternative options considered

The report sets out the Council’s actual financial performance in 2025/26, and the consideration of options is not therefore appropriate.