Purpose

The purpose of the report is to ensure that
the Cabinet is informed of the current financial position for the
Council against the Budget for 2025-26.?

Content

RESOLVED
that:-
 

Cabinet approve the following:

 

(1)  the
re-profiling to the Capital Programme of £70.073 million from
2025-26 to 2026-27 to reflect estimated expenditure levels in the
current financial year; and

 

Cabinet note the following:

 

(2)  the
projected overspend on services of £7.507 million and the
assumptions outlined in the report. 

 

(3)  the
financial monitoring process is a continuous process, and it is not
unusual to predict an overspend in the first formal monitoring
report as pressures in the system are recognised and realised.
Services are now taking appropriate action to bring the budget back
into balance and corporately work is underway to ascertain if
treasury management opportunities could improve the position
further. An updated position for the 6 months to September will be
presented to Cabinet on 9 December 2025.

 

(4)  the
projected overspend on the HRA budget of £1.011 million as
detailed in Appendix J.

 

(5)  the
supplementary estimates at Appendix A and the required changes to
the budgets. 

 

(6)  the
delivery of the approved savings at Appendix B. 

 

(7)  the
use of the contingency shown at Appendix L. 

 

(8)  the
use of reserves shown at Appendix M. 

 

(9)  the
virements requested by services within delegated limits as shown in
Appendix N.

 

(10)                 
the details of capital project reprofiling shown at Appendix O.