Purpose

To set out the current financial position for the Council at the end of the first quarter of 2025/26

Decision

1)    That the forecast revenue position of a £462,000 overspend for 2025/26 as detailed in Table 1 and the need for continued focus on the savings and efficiency programme, be noted.

2)    That the forecast revenue position of the HRA for 2025/26 (surplus of £373k) as detailed in Table 3, be noted.

3)    That the amendments to the HRA Capital Programme at Appendix A – Table 4 to take into account the changes set out in this report, be recommended to Council for approval.

4)    That the amendments to the Capital Programme at Appendix B- Table 1c that require Cabinet approval to take into account the changes set out in this report, be approved.

Reasons for the decision

To ensure the Council’s forecast financial position for 2025/26 is considered and related decisions approved. It is important that the Cabinet are aware of the financial position of the General Fund and Housing Revenue Account to ensure that they can make informed decisions that are affordable and financially sustainable for the Council.

Alternative options considered

To not approve the financial movements outlined.