Decision

1. 1

The Committee considered a report of the Director of Finance and Commercial Services setting out Sheffield City Council’s final financial outturn for the 2025/26 financial year, including the final revenue position.

The report stated that the Council has closed the year with an £11.1m overspend on the General Fund, representing a significant improvement from the £18.9m forecast overspend reported at Quarter 3 and from the £28.2m forecast overspend reported at Quarter 1.

The report provides:

•      the final revenue outturn for 2025/26;

•      an explanation of movements since Quarter 3;

•      detail on the use of reserves and one-off actions taken during the year; and

•      assurance over governance, control and next year implications.

1. 2

RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee notes the final 2025/26 Revenue Outturn position as described in this report including detailed committee budget monitoring information.

1. 3

Reasons for Decision

1. 3.1

To record formally changes to the Revenue Budget.

1. 4

Alternatives Considered and Rejected

1. 4.1

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