Purpose

To report the forecast position for 2025/26 at
Quarter 2 (June 2025), including explanation and analysis of the
drivers for the material budget variances, and to outline current
and planned recovery activity to reduce the forecast overspend.
 
To provide assurance that progress has been
made towards delivery of the agreed revenue budget and service
delivery targets, and that the reasons for major variances are
understood and are being addressed to the cabinet’s
satisfaction.
 
The forecast 2025/26 outturn shows a net
overspend of £7.0 million at Quarter 2, before management
action estimated at £3.3 million to reduce the forecast
overspend for 2025/26 to £3.7 million

Decision

That: Cabinet
 
a) Reviews the financial forecast for 2025/26,
as set out in the appendices A-D, and identifies any additional
actions to be considered to achieve future improvements; and
 
 b) Notes the
management action identified to reduce the forecast outturn
position for 2025/26; and
 
c) Agrees the continuation of management
actions to reduce the forecast overspend as identified in this
report.

Alternative options considered

Cabinet may choose to review financial
performance more or less frequently; or request alternative actions
to address any identified areas of variance from budget, including
referral to the relevant scrutiny committee.