Purpose

To provide an update on the Council’s financial performance, revenue budgets and capital programme to the end of quarter 1 2026/2027 and explain the impact on the current financial position.

Decision

(Key Decision):

1. To note the Quarter 1 forecast financial position for 2026/27 and the associated financial risks.
2. To delegate authority to the Director of Resources and Performance, in consultation with the Portfolio Holder for Finance, to apply necessary budget virements to support effective budget management.
3. To note the Quarter 1 Capital Programme position, including the £7.792m forecast underspend arising from the rephasing of HRA housing development schemes.
4. To refer to Report Appendices 1 to 4 for detailed capital programme monitoring, HRA new build and acquisitions, reserves information and a glossary of terms.