Purpose

To report the provisional financial outturn position for 2025/26 for revenue and capital budgets, subject to external audit. The results for 2025/26 report a balanced revenue outturn position after the use of reserves and implementation of recovery plan actions.

Decision

That: Cabinet

a) reviews the balanced revenue financial outturn 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) approves the proposed transfers to/from reserves outlined in paragraphs 11 to 13; and

c) notes the capital outturn position for 2025/26 of £86.0 million investment in Council priorities.

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.