Purpose

To report on the Council’s Finances as at 31st March 2026.

Decision

It is recommended that Cabinet:

1)    Notes the General Fund draft outturn position for 2025/26 being an underspend of £258,000 as detailed in Appendix A - Table 1.

2) Approves the reserve transfers as set out in Appendix A – Table 2a.

3) Approve the use of the Neighbourhoods reserve of £130,000 in 2026/27 to support future Neighbourhood service delivery costs shown within Appendix A – Table 2a.

4) Approves the final Spalding Special Expenses revenue position of £76k and the transfer of the surplus to the Spalding Special Expenses reserve.

5) Notes the HRA draft outturn position for 2025/26, showing an underspend of £3.130m as set out in Appendix A - Table 3.

6) Notes the draft HRA capital position for 2025/26 as detailed in Appendix A – Table 4.

7) Approves the rephasing of the slippage of the existing HRA capital schemes into 2026/27 and the budgetary adjustment required, as outlined in Appendix A – Table 5.

8) Notes the draft General Fund capital position for 2025/26 as detailed in Appendix B – Table 1a.

9) Approves the rephasing of the slippage of the existing capital schemes into future financial years as outlined in Appendix B – Table 1d which include amendments to the Capital Programme at Appendix B – Table 1c and the addition to the capital programme in 2026/27 noted in Appendix B – Table 1d which will be financed via earmarked reserves.

RECOMMENDATIONS TO COUNCIL FROM CABINET:

 It is recommended that Cabinet approves the following recommendations for onward referral to Full Council:

10) A capital addition of £2m within the HRA for 2026/27 to enable the continuation and expansion of energy efficiency improvements across the housing stock.

11) Notes the HRA draft outturn position for 2025/26, showing an underspend of £3.130m as set out in Appendix A - Table 3, and approves the transfer of this underspend to the HRA General Reserve.

Reasons for the decision

To ensure the Council’s draft outturn financial position for 2025/26 is noted and related decisions approved. It is important that the Cabinet are aware of the financial position of the General Fund and Housing Revenue Account.

Alternative options considered

None