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Cabinet received a report providing an update
on the projected General Fund (GF), Housing Revenue Account (HRA)
and Capital 2025/26 net expenditure and seeking approval to amend
the General Fund, HRA and Capital budgets as part of the quarterly
revenue monitoring review.
 
The Portfolio Holder for Resources advised
that the Q3 position showed a modest £68k General Fund
pressure, driven largely by transitional costs at the Indoor
Market, increased provisions for historic insurance liabilities,
higher external audit fees, and operational pressures including
repairs and vehicle hire.  She also
advised that the HRA was projecting a £1.234m underspend,
mainly due to higher interest on balances, lower repairs and
maintenance costs, and vacancy?related savings, with some
offsetting pressures from damp and mould work and lower rent income
linked to timing of development and Right to Buy sales.
 
The Strategic Director and Chief Financial
Officer advised that the HRA variation related to an increase in
investment income driven by capital receipts received in terms of
right to buy and grant received that had not yet been
spent.  It was noted that borrowing had
also been taken due to the good preferential interest rate at the
time which the Government had confirmed would continue until the
end of the next financial year.
 
It was RESOLVED:
 
General Fund
 

1            
That the 2025/26 third quarter projected net increase in General
Fund expenditure of £68,060 be approved.

2            
That the proposed movement on reserves as detailed in paragraph
4.3.1 be noted.

3            
That pavilion related Fees & Charges for the financial year
2026/27 for the General Fund (GF), as shown at Appendix C, be
approved.
 
Housing Revenue
Account
 
4            
That the 2025/26 third quarter net decrease in HRA expenditure of
£1,234,310 be approved.

Capital
Programme

5            
That the General Fund capital budget re-phasing of £3,260,842
from 2025/26 to future years be approved.

6            
That the Housing Revenue Account capital budget re-phasing of
£7,762,388 from 2025/26 to future years be
approved.

7            
That net changes to budgets of £230,000k fully funded by
external contributions in paragraph 4.9.2 be noted.

8            
That General Fund virement and update of £90,000 in paragraph
4.9.2 be approved.

9            
That the proposed changes to the funding of the General Fund and
HRA capital budgets in section 4.10 be approved.