Purpose

To receive a year end Revenue budget update

Decision

Resolved:

Cabinet is asked to approve:

a)    Transfers to earmarked reserves of £9.305m as detailed in appendix B;

b)    Transfers from earmarked reserves of £44.529m as detailed in appendix B

c)    Creation of new earmarked reserves totalling £10.568m as detailed in appendix B

d)    Proposed amendments to fees and charges as detailed in the fees and charges section.

e)    The final General Fund revenue underspend position for 2025/26 of £0.846m be transferred to reserves in respect of early help in children’s and families (£0.600m) and communities (£0.246m)

Cabinet is asked to note:

f)     The general fund outturn position for the financial year 2025/26.

g)    The final year end position of savings delivery.

h)    The net operating surplus on the HRA of £0.303m and the impact on the HRA reserve.

i)      The total overspend against Dedicated Schools Grant (DSG) budgets of £49.703mm, which is £13.190m more than budgeted and the impact on the cumulative DSG deficit.

Reason for Decision:

To inform effective decision making and ensure sound financial management as part of the Councils overall control environment.

To inform Cabinet on the financial year end revenue outturn position for the Council for the financial year 2025/26, including delivery of approved savings.

To improve the Councils financial resilience by setting aside funds in earmarked reserves to prudently assist in managing the Councils financial risks and future pressures.