2026/27 Month 2 Budget Monitoring Report
July 21, 2026 Cabinet (Cabinet collective) Key decision Unknown View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
The Cabinet decided to note the General Fund Revenue net forecast overspend of £5.923m for Month 2, progress on MTFS Savings delivery, the forecast balanced outturn on the Dedicated Schools Grant and Housing Revenue Account, and the Capital forecast position. They also agreed to delegate responsibility for making arrangements for a cash advance to Calverton School to the Section 151 Officer, Interim Assistant Chief Executive – Change & Improvement & Corporate Director of Resources.
Full council record
Purpose
This reports to the Mayor and Cabinet the financial forecasts for 2026/27 as at the end of month 2 (May 2026). It covers the whole of the Council’s finances, including the General Fund, Housing Revenue Account, the Dedicated Schools Grant, and the Capital Programme.
Decision
For the reasons set out in this report and its appendices, Cabinet RESOLVED to Agree to Note
i) The General Fund Revenue net forecast overspend of £5.923m for Month 2 as set out in this report and Appendix 1.
ii) The progress on MTFS Savings delivery for Month 2 showing £11.936m (19%) of savings delivered, £34.502m (55%) savings forecast on track for delivery and £15.050m (26%) savings forecast not yet in delivery, as set out in Appendix 2.
iii) The forecast balanced outturn on both the Dedicated Schools Grant and Housing Revenue Account for Month 2, as set out in Appendix 3.
iv) The Capital forecast position for Month 2 as set out in section 11 and Appendix 4, and agree the revised budget adjustments for the external grant funded, and HRA schemes.
v) The requirement for a cash advance to Calverton School which closes on 31 August 2026 and agree to delegate responsibility for making such arrangements to the Section 151 Officer, Interim Assistant Chief Executive – Change & Improvement & Corporate Director of Resources.
Alternatives Considered
None
Related Meeting
Cabinet - Tuesday 21st July 2026 3.00 p.m. on July 21, 2026
Supporting Documents
Details
| Outcome | Information Only |
| Decision date | 21 Jul 2026 |
| Effective from | 26 Jun 2026 |