Purpose

To report on the Capital & Revenue Budgets on a quarterly basis and  note the Treasury Management Report and treasury management activities

Decision

RESOLVED

KEY DECISION

That the Executive:

a)       Noted the Council’s forecast outturn position for 2025/26 for the following revenue funds as set out in Appendix A:

i)          General Fund – overspend of £15.442m

ii)        Housing Revenue Account (HRA) – underspend of £702k

iii)      Dedicated Schools Grant (DSG) - deficit position of £23.770m.

b)       Noted the provisional capital outturn position and indicative funding for the General Fund (GF) Capital Programme and Housing Revenue Account (HRA) Capital Programme for 2025/26 as forecast at Quarter 3, as included in Appendix A.

c)        Approved the budget re-profiling across the MTFP Capital Programme of £12.5m as included in Appendix A.

d)       Noted the treasury management Quarter 3 position detailing the activity undertaken during the second quarter of the financial year ending 31st March 2026 and the performance achieved set out in Appendix A to this report,

e)       Noted the assessment of the current deliverability of the 2025/26 General Fund savings proposals as set out in Appendix A.

f)          Noted the performance of the Council as measured by the available indicators as at Period 9 (Q3) 2025/26, set out within Appendix A, Appendix B and Appendix C of this report

Reasons for Recommendations – to note the forecast financial position for 2025/26 as at Quarter 3 and consider the impact on this year and future years budgets.

The Council’s Treasury Management Strategy Statement (TMSS) is underpinned by the CIPFA Code of Practice on Treasury Management (“the Code”) which requires that members are informed of treasury management activities on a quarterly basis each financial year. Full Council has delegated the formulation and monitoring of the Council’s treasury management strategy, policy, and activity to the Executive Committee.

Alternative Options Considered: The report focuses on the forecast revenue outturn against budget for 2025/26 and makes recommendations for the Executive to note the current budgetary position as such there are no specific choices within the report.