Purpose

Report to inform cabinet of the final outturn position for the Council against the budget for 2025-26.

Decision

RESOLVED that:-

Cabinet approve:

1. 1          The net re-profiling to the Capital Programme of £60.971 million from 2025-26 to 2026-27 to reflect expenditure levels during the financial year.
2. 2          The use of reserves shown at Appendix K.

Cabinet note:

1. 3          The final outturn is based upon the draft Statement of Accounts and is subject to external audit.
2. 4          The net change on the General Fund compared to the Provisional Outturn of £0.183 million which was transferred from the Council’s Strategic Management Reserve.
3. 5          The total net expenditure budget has increased by £69.433 million compared to the provisional budget due to year-end budget equalisation. This has minimal impact on the variance for each service and the overall council position.
4. 6          The projected overspend on the Dedicated Schools Grant of £12.061 million as detailed in Appendix D.
5. 7          The projected overspend on the Housing Revenue Account (HRA) budget of £0.102 million as detailed in Appendix I.
6. 8          The delivery of the approved savings at Appendix A. 
7. 9          The details of capital project reprofiling shown at Appendix L.