Purpose

This report presents the 2025-26 in-year
financial performance to Month 5 (August) for noting by Cabinet and
seeks approval for any capital variations, reprofiling, exception
measures or new reserves.

Content

1)            
Cabinet notes the forecast risk position for the
General Fund, which indicates a potential forecast overspend risk
of £9.406m.
 
2)            
Cabinet notes the forecast overspend risk for the
separate Housing Revenue Account (HRA), which is an overspend of
£1.192m.

 
3)            
Cabinet notes the forecast overspend risk for the
ring-fenced Dedicated Schools Grant, which is an overspend of
£2.843m.

 
4)            
Cabinet notes the forecast position on the Capital
Programme which is an underspend variance of
£5.901m.

 
5)            
Cabinet approves the capital budget variations and
re-profiling requests set out in Appendix 6.

 
6)            
Cabinet approves the new capital schemes requested
in Appendix 7.

 
7)            
Cabinet notes the Treasury Management update as set
out in Appendix 8 and summarised in paragraph 9.

 
8)            
Cabinet notes the
strategic decisions being considered to reshape the city’s
approach to temporary accommodation and establish long-term
financial sustainability and that reports outlining these proposals
in detail will be presented to Cabinet for consideration at a
future date.

 
9)            
Cabinet agrees to
extend existing and future lease arrangements for Temporary
Accommodation to at least 10 years and 1 day where appropriate, and
delegate authority to Corporate Director – Homes & Adult
Social Care, in consultation with the Lead Member for Housing, to
implement.

 
10)         
Cabinet agrees the set
of Strategic Aims in Appendix 9 for the purpose of Direct Offers,
in effect until 31 March 2026 and reviewed in January
2026.