Purpose

The Executive Member for Finance submitted a report for
Executive consideration presenting the Council’s forecasted financial position at
Quarter Three 2025/26 and seeking approval for several required financial
actions.

Decision

ORDERED that Executive:

Approves budget
virements over £250,000 within the revenue budget (Appendix 1);
Approves budget
virements over £250,000 within the Capital Programme (paragraph 4.47);
and,
Approves the inclusion of
new schemes and additions to existing schemes to the Capital Programme
totalling £0.357m for 2025/26, which are all externally funded to either
new or existing schemes (detailed in Appendix 5). Subject to approval this
will increase the approved 2025/26 Capital Programme budget to £88.451m.

AGREED that Executive:

Notes 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 Three,
highlighting the budget pressures and the forecast year-end position if no
further action is taken. At present, the revenue budget is forecast to be
under pressure by £1.675m (1.1%) at year end after the proposed use of
central contingences and other budgets; and,

Notes that Directors
continue to implement recovery plans, mitigations and financial controls
aimed at reducing their forecast budget pressures and acknowledges the
ongoing requirement for Directors to continue refining and implementing
these plans to achieve a balanced budget by the end of 2025/26. In support
of this corporate revenue budget spending controls will continue to be
applied during 2025/26.