Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: July 14, 2025

Purpose: To present Strategy and Resources Committee with the latest detailed financial outturn report and identify any additional financial approvals that are required.

Content: The Committee RESOLVED:   To note:   1. The council’s General Fund forecast outturn revenue overspend of £9.6 million at P2 2025/26 against the council approved budget of £571.4 million.   2. The additional weighted net risk of £10.9 million per the risks and opportunities register (Appendix A1a, Section 4, Tables 4a and 4b).   3. The performance on delivery of savings (Appendix A1a, Section 5, Tables 5a and 5b).   4. The council’s outturn position of £1.3 million overspend within the Housing Revenue Account to be transferred to the HRA general reserve at the year end (Appendix A1a, Section 6.3).   5. The council’s outturn position of a £37.2 million net overspend in the Dedicated Schools Grant and that, as part of the DfE Safety Valve agreement, the General Fund approved budget for 2025/26 includes the transfer of £11.7 million to an earmarked reserve at year end (Appendix A1a, Section 6.4).   6. The breakeven position on Public Health services (Appendix A1a, Section 6.5).   7. The breakeven position on the Bristol Harbour Fund. (Appendix A1a, Section 6.6).   8. That recovery action plans will be developed for the areas of budget pressure, to include C&E, A&C, G&R and the HRA.   9. The latest position on balance sheet risks.   10. The council’s forecast underspend of £41.1 million against the Capital Programme revised budget 2025/26, comprised of £25.9 million underspend on the General Fund and £15.2million underspend on the HRA. (Appendix A1b, Section 1).   11. The planned use of capital receipts of £20.7 million.   12. The in-year collection levels for Council Tax and Business Rates as set out in the reports (Appendix A1a, section 7).   13. The levels of aged debt as at 31 May 2025 (Appendix A1a, section 7.9).   14. The 1 April 2025 opening balances on the General Fund and Earmarked Reserves and movements to P2 close (Appendix A1a, section 9).   To approve (unanimous vote in favour):   1. The creation of 4 new reserves to account for Section 31 Pupil Premium, Business Planning Reserve, Bristol Harbour Reserve, DSG Surplus Reserve (Appendix A1a, Table 12).   2. The release of £8.2 million corporate inflation budget and of £4.5 million pay inflation budget (representing latest changes to Employer’s NI contribution % and threshold) as approved in the 2025/26 budget but not initially allocated to directorates’ cash limits (see Appendix A1a, Table 3b)   3. The drawdown in Period 2 of £0.1 million from the Capital Feasibility Fund (Appendix A1a, section 9.4).