Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: July 23, 2025

Purpose: The purpose of this report is to provide Cabinet with an integrated finance and performance update against Our City: Our Plan priorities for 2025-2026. This is the first report of the financial year for 2025-2026 and provides an overview, highlighting early assumptions against Our City: Our Plan performance framework and financial performance.

Content: 1.     That it be noted, early indications are that there are some emerging cost pressures in 2025-2026, mainly around increased demand and inflationary pressures as detailed in the report. These would be monitored, and an update would be provided in future reports to Councillors.   2.     That it be noted, early indications are that good progress is being made against the Our Future Council Savings Targets for 2025-2026. These would be closely monitored, and an update provided in future reports to Councillors.   3.     That it be noted, work is ongoing under Our Future Council to set a balanced budget for 2026-2027, as detailed in Section 5.0 of the report.   4.     That it be noted, the Deputy Director of Finance (Deputy Section 151 Officer) had approved write-off of debts against the expected credit loss provision as detailed in Appendix 2 to the report.   5.     That it be noted, the Strategic Risk Register approved by Cabinet on 11 June 2025 and approved by Audit and Risk Committee on 23 June 2025 is detailed in Appendix 3 to the report.   6.     That the use of £53,000 from the Public Health Reserve to fund Yo Active Service as detailed in paragraph 8.6 of the report and establishment of associated supplementary budgets be approved. 7.     That 24 virements totalling £25.4 million on the General Fund, for transfers within directorates, as detailed in Appendix 5 to the report be approved.   8.     That the allocation of up to £1.0 million from the Housing Revenue Account Balance Reserve to fund the acceleration of stock condition surveys and the establishment of associated budgets, as detailed in paragraph 3.71 and paragraph 8.7 of the report be approved.   9.     That the write-off of debts against the expected credit loss provision as detailed in Appendix 2 to the report be approved.   10.  That the General Fund Budget 2025-2026 and Medium Term Financial Strategy (MTFS) risk register as detailed in Appendix 4 to the report be approved.   11.  That the establishment of supplementary budgets within 2025-2026 that have no impact on the Council’s net revenue budgets as the expenditure is fully funded from grant or other external income source as detailed in Section 7 of the report be approved.