Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 11, 2025

Purpose: To report on the Capital & Revenue Budgets on a quarterly basis and note the Treasury Management Report and treasury management activities

Content: RESOLVED   KEY DECISION   That the Executive:   a)       Noted the Council’s forecast outturn position for 2025/26 for the following revenue funds as set out in Appendix A:   i)          General Fund – overspend of £15.311m ii)        Housing Revenue Account (HRA) – underspend of £942k iii)      Dedicated Schools Grant (DSG) - deficit position of £19.390m.   b)       Noted the provisional capital outturn position and indicative funding for the General Fund (GF) Capital Programme and Housing Revenue Account (HRA) Capital Programme for 2025/26 as forecast at Quarter 2, as included in Appendix A.   c)        Noted that £511k of the Corporate Contingency will be used for the pay award which was higher than budget and £150k will be used to fund a review of the delivery of Adult Social Care Transformation for older person pathways.   d)       Approved the budget re-profiling across the MTFP Capital Programme of £24.4m as included in Appendix A.   e)       Noted the treasury management quarter 2 position detailing the activity undertaken during the second quarter of the financial year ending 31st March 2026 and the performance achieved set out in Appendix A to this report,   f)          Noted the assessment of the current deliverability of the 2025/26 General Fund savings proposals as set out in Appendix A.     Reasons for Recommendations – to note the forecast financial position for 2025/26 as at Quarter 2 and consider the impact on this year and future years budgets.   The Council’s Treasury Management Strategy Statement (TMSS) is underpinned by the CIPFA Code of Practice on Treasury Management (“the Code”) which requires that members are informed of treasury management activities on a quarterly basis each financial year. Full Council has delegated the formulation and monitoring of the Council’s treasury management strategy, policy, and activity to the Executive Committee.   Alternative Options Considered: The report focuses on the forecast revenue outturn against budget for 2025/26 and makes recommendations for the Executive to note the current budgetary position as such there are no specific choices within the report.