Purpose

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

Decision

That the Committee noted:

1. The council’s General Fund forecast outturn revenue overspend of £9.8 million at P3 2026/27 against the council revised budget of £637.1 million.
2. The additional weighted net risk to the General Fund of £10.7 million per the risks and opportunities register (Appendix A1a, Section 4, Tables 5a and 5b)
3. The performance on delivery of savings (Appendix A1a, Section 3, Tables 4a and 4b).
4. The council’s outturn position of £0.5 million underspend within the Housing Revenue Account to be contained by the HRA general reserve at the year end (Appendix A1a, Section 2.27).
5. The additional weighted net opportunity to the HRA of £0.2 million and Bristol Harbour Authority of net risk of £0.2 million as per the risks and opportunities register (Appendix A1a, Section 4, Tables 5a and 5b)
6. The council’s P3 outturn position of a £44.8 million net overspend in the Dedicated Schools Grant and that, as part of the DfE Safety Valve agreement, the General Fund approved budget for 2026/27 includes the transfer of £15.2 million to an earmarked reserve at year end (Appendix A1a, Section 2.8).
7. The breakeven position on Public Health services (Appendix A1a, Section 2.17).
8. The breakeven position on the Bristol Harbour Fund. (Appendix A1a, Section 2.28).
9. The latest position on balance sheet risks.
10. The council’s forecast underspend of £61.2 million against the Capital Programme revised budget 2026/27, comprised of £29.3 million underspend on the General Fund, £6.3 million underspend on Corporate Contingencies and £25.7 million underspend on the HRA. (Appendix A1b, Section 1).
11. The planned use of capital receipts of £24.1 million (Appendix A1b, section 3.5).
12. The in-year collection levels for Council Tax and Business Rates as set out in the reports (Appendix A1a section 9)
13. The levels of aged debt as at 30 June 2026 (Appendix A1a, section 6.1)
14. Balances on the General Fund and Earmarked Reserves at P3 and movements from P12 2025/26 to P3 2026/27 close (Appendix A1a, section 7).

That the Committee approved:

1. Movements on General and Earmarked Reserves (Appendix A1a, Table 7a and 7b).
2. Additional Homelessness Grant of £3.1 million.