Purpose

The report advises the Executive of the Council's financial position as at Quarter Two 2025/26

Decision

ORDERED that Executive:

Approve budget
virements over £250,000 within the revenue budget detailed at Appendix one
of the report.
Approve budget
virements over £250,000 within the Capital Programme detailed at paragraph
4.47 of the report.
Approve the inclusion
of new schemes and additions to existing schemes to the Capital Programme
totalling £0.519m for 2025/26, of which £0.454m were externally funded and
£0.065m was from existing Council funded resources (detailed in Appendix
5). Subject to approval this would increase the approved 2025/26 Capital
Programme budget to £88.094m.

AGREED that Executive:

Note the Council’s
financial performance and forecast year-end financial outturns for revenue
and capital budgets for the financial year 2025/26 as at Quarter Two,
highlighting the budget pressures and the forecast year-end position if no
further action was taken. At present, the revenue budget was forecast to
be under pressure by £1.804m (1.3%) at year end after the proposed use of
central contingences and other budgets.
Note that Directors had
submitted recovery plans and mitigations aimed at reducing their forecast
budget pressures and acknowledged the ongoing requirement for Directors to
continue refining and implementing these plans to achieve a balanced
budget for the Directorates by the end of 2025/26. In support of this
corporate revenue budget spending controls would continue to be applied
during 2025/26.