Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 13, 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 £18.7 million at P5 2025/26 against the council approved budget of £571.4 million.   2. The additional weighted net risk of £3.9 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 contained by the HRA general reserve at the year end (Appendix A1a, Section 6.3).   5. The council’s outturn position of a £36.3 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 in accordance with Budget Management Principles the council is moving into a period of focused budget recovery with action plans being progressed at pace for those areas with budget pressures, to include C&E, A&C, G&R and the HRA. An update will be included as part of the P8 report.   9. The latest position on balance sheet risks.   10. The council’s forecast underspend of £108.2 million against the Capital Programme revised budget 2025/26, comprised of £70.7 million underspend on the General Fund and £37.5 million 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. Balances on the General Fund and Earmarked Reserves at P5 and movements from P2 to P5 close (Appendix A1a, section 9).   15. The decision to increase contract costs linked to the mailing of West of England mayoral election candidate booklets by £0.1 million from previously approved contract value <£0.5million to <£0.6 million following Royal Mail postage price rises in April 2025.   To approve (unanimous vote in favour):   1. Movements on Earmarked Reserves (Appendix A1a, Table 11).   2. The release of £2.8 million corporate held inflation budget and of £7.2 million corporately held pay inflation budget (representing the 25/26 pay settlement) as approved in the 2025/26 budget but not initially allocated to directorates’ cash limits (see Appendix A1a, Table 3a and 3b).   3. Capital Programme budget reprofiling of the forecast £108.2 million underspend into future years.   4. Revision to the DSG gross budget following Period 5 reporting to reflect advised £0.6 million additional budget allocation.