Purpose

The purpose of this report is to inform Cabinet of the summary position on revenue income and expenditure forecasts for the financial year 2026/27, as at the end of the first quarter.

Decision

RECOMMENDED TO CABINET:

(1)   That Cabinet note this report.

(2)   That Cabinet approves the changes to the 2026/27 General Fund budget, as identified in table 3 and paragraph 8.2, an £826k decrease in net expenditure.

(3)   That Cabinet notes the changes to the 2027/28 General Fund budget, as identified in table 3 and paragraph 8.2, a total £387k increase in net expenditure. These will be incorporated in the draft revenue budget for 2027/28.

(4)   That Cabinet approve the debt write-off as detailed in paragraph 8.19.3.

REASONS FOR RECOMMENDATIONS:

(1)   Members are able to monitor, make adjustments within the overall budgetary framework and request appropriate action of Services who do not meet the budget targets set as part of the Corporate Business Planning process.

(2)   To comply with the financial regulations in relation to debt write-offs.