Purpose

To report the forecast position for 2026/27 at Quarter 1 (June 2026), 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.

Decision

That: Cabinet

a) Reviews the financial forecast for 2026/27, as set out in the appendices A-D, and identifies any additional actions to be considered to achieve future improvements;

b) Notes the management action identified to reduce the forecast outturn position for 2026/27; 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.