Decision

1. Approved the Company’s annual Budget for the financial year 2026-27 and note the forecasts for financial years 2027-28 and 2028-29, as set out in Appendix A.
2. Noted Portico’s capital requirement over the 2026/27 to 2028/29 period of £9.9 million, funded by a Council loan, which is within the Council’s existing Capital Programme, and a grant secured by Portico. Any draw-down will be subject to meeting the necessary criteria, including approval by the Council's Section 151 Officer.
3. Noted that this is the second budget for approval following a full independent review of the company by external consultants in 2024.