Purpose

To receive the revenue and capital budget monitor for the 1st quarter of the financial year to the end of June 2026.

Decision

Cabinet approved the following:

1. The addition of a £24.5m NHS funded capital project to the capital programme, for which £0.457m of expenditure is expected in 2026/27 as set out in Appendix 1.
2. The addition of £0.230m Best Start Family Hubs to the Capital Programme as set out in Appendix 1
3. A virement of £0.704m from the Transformation Fund to the Financial Improvement Programme. This is a change of management and not a change in purpose and will allow a greater level of management of the spend related to the Finance Improvement Plan.

Cabinet noted the following:

1. The current 2026/27 financial position as set out in the report.
2. The proposals to mitigate the reported overspend, set out in section 2.3, which will be reported in full as part of the Q2 Budget Monitoring Report to November Cabinet.