Decision

Recommendations

1. 1. Note the General Fund (GF) provisional outturn is an underspend of -£8.520m, shown in Table 1 (paragraph 3.2) and detailed at Appendix 1.
2. 2. Note the Housing Revenue Account (HRA) outturn is a surplus of -£7.866m, shown in Appendix 2A and 2B.
3. 3. Note progress on delivering the 2025/26 agreed savings in Table 2 (paragraph 3.12) and Appendix 1C.
4. 4. Approve the revenue budget virements and other budget adjustments as outlined in paragraph 3.7 of Appendix 1 and detailed in Appendix 1C.
5. 5. Approve a £1.846m on-going virement from capital financing to the commercial property income budget. This will offset the remaining commercial property income shortfall and support a balanced budget position. This is funded by reduced General Fund borrowing costs in relation to the capital programme following the disposal of surplus commercial property assets.
6. 6. Approve transfers to/from reserves as outlined in paragraph 3.8 of Appendix 1.
7. 7. Note, and where necessary, agree to debt write-offs outlined in paragraph 3.10 of Appendix 1.
8. 8. Delegate authority to the Corporate Director of Resources and Section S151 Officer, in consultation with the Executive Member, to agree any further movements to or from reserves and any required adjustments related to finalising the 2025/26 Statement of Accounts.
9. 9. Delegate authority to the Corporate Director of Resources and Section 151 Officer, in consultation with the relevant Executive Members, to approve the final allocation of the Making it Happen Fund across both revenue and capital budgets.
10. 10. Agree the recommendation at paragraph 2.7 that on the recommendation of the Section 151 Officer that a Quarter 1 Budget Monitoring Report will not be published, due to the timing of the implementation of the new financial system.

Decisions:

AGREED recommendations

Reasons for the decision – as detailed in the report 

Other options considered – as detailed in the report 

Conflicts of interest / dispensations granted – none