Decision

Resolved that: Executive is informed

·         Revenue: All services apart from Children’s Services are broadly in line with Budget. Additionally, the savings target is forecast to be higher than Budget. However, the impact of volume and rate increases in Children’s Services is the primary driver of a corporate net Q1 revenue forecast +£9.3m/ 4.4% adverse to Budget. Total net revenue is forecast at £220.2m in the Q1 outturn, vs £210.9m in the Budget.

·         Capital: The forecast Q1 capital outturn is £47.0m/ 85.4% of expenditure against Budget of £55.0m. Of the £47.0m capital expenditure incurred, £14.7m is expected to be funded by the Council. The remaining £32.3m is expected to be financed from external sources, primarily grants, the Community Infrastructure Levy (CIL) and Section 106 contributions. The impact this has on debt financing is covered in Section 8.

·         Capital: £2.3m of the 2026/27 capital budget is proposed to be reprofiled into the 2027/28 capital programme. Included within the proposed capital reprofiling is planned Council funded expenditure (i.e. funded through planned borrowing) of £100k. Appendix A provides details of proposed Capital Reprofiling

This decision is not subject to call in as:

·      Report is to note only

therefore it will be implemented immediately.