Decision

DECLARATIONS OF INTEREST RELATING TO THIS ITEM:
 
None
 
RESOLVED:
That Cabinet:
 
1.   
Noted the forecast total revenue outturn variance for the General
Fund of £19m, comprising £10.72m base budget pressures
and £8.312m non?delivery of savings.

2.   
Noted the net DSG forecast of a £3.2m overspend.

3.   
Noted the net Housing Revenue Account (HRA) forecast surplus of
£1.791m.

4.   
Noted the forecast General Fund and HRA capital expenditure of
£393.8m, which equated to 72.9% of the total 2025/26 Quarter
Three revised budget position.

5.   
Approved the revenue budget virements and receipt of grants as set
out in Appendix?8.

6.   
Approved the proposed budget adjustments and virements to the
capital programme as set out in Table?5 and Appendix?8.

7.   
Noted the debt write?offs in Quarter Three 2025/26, which had been
approved by the Corporate Director of Finance and Resources under
delegated authority, or, for those above £50,000, by the
Cabinet Member for Finance, as set out in Appendix?9 and in
accordance with the Constitution.

8.   
Noted the Finance Response and Recovery Plans and progress against
actions as at Quarter Three, as set out in Appendix?10.
 

Reason for Decision
 
A strong financial
management framework, including oversight by Members and senior
management, was an essential part of delivering the council’s
priorities as set out in the Corporate Delivery Plan and in meeting
its statutory duties. This was made more critically important than
ever because of the uncertainties surrounding the Council’s
challenging financial position, which was being impacted by
Government funding, high demand for services—particularly for
the most vulnerable—and the wider economic outlook. This
created an ongoing reliance on Exceptional Financial Support in the
current year and across the MTFS period.
 

Alternative Options Considered
 
The management of the
Council’s financial resources was a key part of the role of
the Corporate Director of Finance and Resources (Section?151
Officer) in helping Members exercise their role, and no other
options were therefore considered. The remainder of the report and
its accompanying appendices set out the forecast budget position in
more detail.