Purpose

To consider the report of the Cabinet Member for Finance and Resources on the revenue year end for 2025/26.

Decision

(i)  To recommend the report to Full Council;

(ii)  To agree the creation of three new earmarked revenue reserves: Hampshire and the Solent CCA Reserve to hold government funding received on behalf of the combined county authority for which Southampton City Council is acting as the accountable body; Building Back Assurance Reserve; and School Absence Penalty Charges Reserve.

Reasons for the decision

To ensure that Cabinet fulfils its responsibilities for the overall financial management of the council’s resources.

Alternative options considered

None, as the revenue outturn position for 2025/26 has been prepared in accordance with statutory accounting requirements.