Purpose

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

Content

The Committee for Strategy and
Resources noted:
 
1.The
council’s General Fund forecast outturn revenue overspend of
£7.2 million at P10 2025/26 against the council approved
budget of £571.4 million.
2.The additional
weighted net opportunity to the General Fund of £2.4 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 £0.5 million overspend
within the Housing Revenue Account to be contained by the HRA
general reserve at the year end
(Appendix A1a, Section 7.3).
5.The additional
weighted net risk to the HRA of £0.7 million per the risks
and opportunities register (Appendix A1a, Section 4, Tables 4a and
4b)
6.The
council’s outturn position of a £43 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
7.4).
7.The breakeven
position on Public Health services (Appendix A1a, Section
7.5).
8.The breakeven
position on the Bristol Harbour Fund. (Appendix A1a, Section
7.6).
9.The progress
update on budget recovery measures and actions in accordance with
Budget Management Principles. (Appendix A1a, Section 6).
10.The latest
position on balance sheet risks. 
11.The
council’s forecast underspend of £49.4 million against
the Capital Programme revised budget 2025/26, comprised of
£32.7 million underspend on the General Fund and £16.7
million underspend on  the HRA. (Appendix A1b, Section
1).
12.The planned use
of capital receipts of £20.7 million.
13.The in-year
collection levels for Council Tax and Business Rates as set out in
the reports (Appendix A1a section 8)
14.The levels of
aged debt as at 31 January 2026
(Appendix A1a, section 8.9)
15.Balances on the
General Fund and Earmarked Reserves at P10 and movements from P8 to
P10 close (Appendix A1a, section 10). 
 
That the Strategy and Resources Committee
(unanimous vote in favour) approved:

1.Movements on General
and Earmarked Reserves (Appendix A1a, Table 11).

2.The release of
£0.1 million corporate held inflation budget as approved in
the 2025/26 budget but not initially allocated to
directorates’ cash limits (see Appendix A1a, Table 3a and
3b)