Decision

Purpose of report 

This report presents the Council’s revenue and capital monitoring position at Month 3 (June 2026), together with the forecast outturn for the 2026/27 financial year.

Decision 

Cabinet agreed:

1. Note that an overspend over £7.135m is reported at Month 3 2026/27;

1. Note that the five-year Capital Programme for 2026–2031 is forecast at £296.963m as shown in table 16, with further Capital Pipeline of £122.273m, as shown in table 21, and recommend these amendments to City Council for approval;

1. Note the performance against Prudential Indicators for Q1 2026/27, detailed in section 12.

Reasons for decision 

1. Clear reporting and visibility of the forecast revenue budget outturn are essential to maintain effective financial oversight and control;

1. Clear reporting and visibility of the forecast capital programme is also essential to maintain effective financial oversight and control;

1. To ensure that the Council’s borrowing remain affordable, sustainable, and aligned with its Treasury Management Strategy

Alternative options considered and rejected 

There are no alternative options, as the Council’s Financial Regulations require regular monitoring and reporting of financial resources.

Declarations of interest 

None declared in respect of this item.