Content

8.1

The Director of
Finance, Commercial and Performance Services presented a report
summarising Sheffield City Council's 2025-26 revenue budget
position, noting key variances, risks, and opportunities as of Q1
2025/26. The report builds on the structure and approach of the
2024/25 Q4 paper, with all references and data brought forward to
apply to the current financial
period.
 
The 2025/26 Q1
monitoring exercise provides an indication of financial performance
against the approved budget for the year. The purpose of the report
is to:
• Summarise
the financial forecast and strategy at 2025/26
Q1
• Identify key
variances from the planned budget
• Highlight
pressure areas and any emerging
risks
• Provide
updates for financial mitigation within service
areas
• Identify
areas requiring updated or new actions for Q2 and
beyond

 

 

8.2

RESOLVED UNANIMOUSLY: That Strategy and
Resources Policy Committee:-
 
(a) notes the updated information on the 2025/26 Revenue Budget
Outturn as
described in the report, including the detailed committee budget
monitoring
information and management actions provided;
and
 
(b) notes the targeted actions and work underway to bring the
in-year forecast
overspend down.

 

 

8.3

Reasons for Decision

 

 

8.3.1

To record
formally changes to the Revenue Budget.

 

 

8.4

Alternatives Considered and
Rejected

 

 

8.4.1

The Council is required to both set a balance budget and to
ensure that in-year income and expenditure are balanced. No other
alternatives were considered.