Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: September 3, 2025

Purpose: The purpose of the report is to ensure that the Cabinet is informed of the current financial position for the Council against the Budget for 2025-26.?

Content: RESOLVED that:-   Cabinet approve the following:   (1)  the re-profiling to the Capital Programme of £70.073 million from 2025-26 to 2026-27 to reflect estimated expenditure levels in the current financial year; and   Cabinet note the following:   (2)  the projected overspend on services of £7.507 million and the assumptions outlined in the report.    (3)  the financial monitoring process is a continuous process, and it is not unusual to predict an overspend in the first formal monitoring report as pressures in the system are recognised and realised. Services are now taking appropriate action to bring the budget back into balance and corporately work is underway to ascertain if treasury management opportunities could improve the position further. An updated position for the 6 months to September will be presented to Cabinet on 9 December 2025.   (4)  the projected overspend on the HRA budget of £1.011 million as detailed in Appendix J.   (5)  the supplementary estimates at Appendix A and the required changes to the budgets.    (6)  the delivery of the approved savings at Appendix B.    (7)  the use of the contingency shown at Appendix L.    (8)  the use of reserves shown at Appendix M.    (9)  the virements requested by services within delegated limits as shown in Appendix N.   (10)                  the details of capital project reprofiling shown at Appendix O.