Purpose

To present Strategy and Resources Committee
with the latest detailed financial outturn report and identify any
additional financial approvals that are required.

Content

The Committee RESOLVED:
 
To note:

 
1. The council’s General Fund forecast
outturn revenue overspend of £18.7 million at P5 2025/26
against the council approved budget of £571.4 million.
 
2. The additional weighted net risk of
£3.9 million per the risks and opportunities register
(Appendix A1a, Section 4, Tables 4a and 4b).
 
3. The performance on delivery of savings
(Appendix A1a, Section 5, Tables 5a and 5b).
 
4. The council’s outturn position of
£1.3 million overspend within the Housing Revenue Account to
be contained by the HRA general reserve at the year end (Appendix
A1a, Section 6.3).
 
5. The council’s outturn position of a
£36.3 million net overspend in the Dedicated Schools Grant
and that, as part of the DfE Safety Valve agreement, the General
Fund approved budget for 2025/26 includes the transfer of
£11.7 million to an earmarked reserve at year end (Appendix
A1a, Section 6.4).
 
6. The breakeven position on Public Health
services (Appendix A1a, Section 6.5).
 
7. The breakeven position on the Bristol
Harbour Fund. (Appendix A1a, Section 6.6).
 
8. That in accordance with Budget Management
Principles the council is moving into a period of focused budget
recovery with action plans being progressed at pace for those areas
with budget pressures, to include C&E, A&C, G&R and the
HRA. An update will be included as part of the P8 report.
 
9. The latest position on balance sheet
risks.
 
10. The council’s forecast underspend of
£108.2 million against the Capital Programme revised budget
2025/26, comprised of £70.7 million underspend on the General
Fund and £37.5 million underspend on the HRA. (Appendix A1b,
Section 1).
 
11. The planned use of capital receipts of
£20.7 million.
 
12. The in-year collection levels for Council
Tax and Business Rates as set out in the reports (Appendix A1a,
section 7).
 
13. The levels of aged debt as at 31 May 2025
(Appendix A1a, section 7.9).
 
14. Balances on the General Fund and Earmarked
Reserves at P5 and movements from P2 to P5 close (Appendix A1a,
section 9).
 
15. The decision to increase contract costs
linked to the mailing of West of England mayoral election candidate
booklets by £0.1 million from previously approved contract
value <£0.5million to <£0.6 million following
Royal Mail postage price rises in April 2025.

 
To approve (unanimous vote in favour):
 
1. Movements on Earmarked Reserves (Appendix
A1a, Table 11).
 
2. The release of £2.8 million corporate
held inflation budget and of £7.2 million corporately held
pay inflation budget (representing the 25/26 pay settlement) as
approved in the 2025/26 budget but not initially allocated to
directorates’ cash limits (see Appendix A1a, Table 3a and
3b).
 
3. Capital Programme budget reprofiling of the
forecast £108.2 million underspend into future years.
 
4. Revision to the DSG gross budget following
Period 5 reporting to reflect advised £0.6 million additional
budget allocation.