Purpose

To receive a report on the provisional forecast position of
the Council for the first quarter of the 2025/26 financial year to
the end of June 2025.

Decision

Cabinet noted:
 
1.1The issuance of the Commissioners’ sixth
instruction
Instruction Note 6 – 
Budget management – Instruction for immediate
application
 
1.2The financial position of the Council as set out in the
report, specifically that the revenue budget position at Quarter 1
reflects a net overspend of £20.729m and the Corporate
Leadership Team has to date identified initial mitigations, pending
validation, of some £7m and are committed to developing
further mitigations.
 
1.3A
further report be brought back to October Cabinet, updating the
position and validated mitigations
 
1.4Commissioners’ suggestion that the Executive Director
of Regeneration, Housing and Environment present a comprehensive
update to Cabinet in October on the issues relating to the
pressures on Temporary Accommodation including
mitigations.
 
1.5The technical Budget Adjustments and contingency
allocations as set out in the report.
 
Cabinet approved:
 
1.6Additional and amended schemes incorporated into the
Capital Programme totalling £0.782m, relating to final grant
settlements and s106 funded schemes (Appendix 2 Table 8)
 
1.7Reprofiling of capital budgets totalling £12.753m
from 2025/26 to later years (Appendix 2 Table 9)
 
1.8 The drawdown of £1.373m
from the budget smoothing reserve to support the Finance
Improvement Programme (£1.373m was included in the budget
2025/26 and MTFS to 2028/29 approved budget in the reserves section
but was not previously put forward formally as a recommendation to
Cabinet)