Purpose

The report provides details of the Combined Authority's outturn financial performance for the financial year ending 31 March 2026, covering revenue, capital and treasury management performance. It also provides details of proposals for revenue and capital budget revisions for the 2026/27 financial year.

Decision

RESOLVED – That the Combined Authority Financial Outturn 2025/26 and 2026/27 Budget Revisions:

(a)         the contents of the report be noted;

(b)         the 2026/27 revenue budget amendments, as detailed in Section 5 and Appendix Three be approved;

(c)          the 2026/27 capital programme budget amendments, as detailed in Section 7 and Appendix Four be approved;

(d)         the receipt of devolved funding from the Department for Transport in relation to supporting the provision be of bus services be approved and delegated authority to the Executive Director – Place in consultation with the Executive Director – Resources and the Monitoring Officer be granted to make payments to bus operators until bus franchising is in full operation;

(e)         the entry into a Hosting Agreement enabling the route and finish of Stage 2 of the Tour de France 2027 to be hosted by the Liverpool City Region be approved;

(f)            delegated authority be granted to the Executive Director – Place in consultation with the Executive Director – Resources and the Monitoring Officer to:

a)     finalise the terms of the Hosting Agreement;

b)     agree a budget for inclusion in the Hosting Agreement, subject to a maximum of £4.5m, and authorise the use of that budget for the purpose of hosting activities; and

c)     a representative be nominated to support the Tour de France organising Committee that oversee the delivery of the event;

(g)              a report be brought to a future meeting of the Combined Authority providing further details of the event and how its benefits to the City Region and its residents will be maximised;

(h)              the delegation of authority to Merseytravel to employ the network stability provision, as appropriate in consultation with the Mayor (see section 8 of the report) be approved; and

(i)                 the Treasury Management report and prudential indicators, as detailed in Appendix Five, be approved.