Decision

Report Title: Quarter 1 Revenue and Capital Monitoring Report 2026/27

Presented by: Councillor Sue Benjamins, Cabinet Member for Finance

Cabinet:

1. 1       Councillors noted the forecast revenue outturn for 2026-27 for the General Fund which is a £22.8m underspend against the approved budget of £356.8m based on the position at the end of June 2026 (Period 3/Quarter One) as set out in sections 4 of the report and
2. 2       Noted the subsequent expected level of use of Exceptional Financial Support which is currently £54.2m. 
3. 3       Noted the update on the savings programme for 2026-27 set out in section 5 of the report
4. 4       Noted the forecast revenue outturn for 2026-27 for the Housing Revenue Account which is a surplus of £0.1m based on the position at the end of June 2026 (Period 3/Quarter One) as set out in section 6
5. 5       Noted the forecast revenue outturn for 2026-27 for the Dedicated Schools Grant which is an overspend of £45m based on the position at the end of June 2026 (Period 3/Quarter One) and the position on Schools in Deficit based on their submitted one year and three-year budget plans as set out in section 7.
6. 6       Noted the update on the Council’s reserves as set out in section .
7. 7       Noted the capital monitoring position of the Council as at the end of June 2026 (1st Quarter of the financial year) as set out in section 9.  Forecast spend is £296.4m against a budget of £423.1m meaning slippage into future years of £126.7m