Decision Maker:

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: November 27, 2025

Purpose: This report provides the 2025/26 budget monitor for General Fund revenue and capital forecasts against budget, as well as the Housing Revenue Account (HRA) to the 30th September 2025. The current forecast is a significant General Fund overspend of £2.907 million, driven by a combination of systemic, demand-led pressures (particularly in Homelessness and Housing Benefits) and a number of significant one-off costs.

Content: Cabinet agreed the following:   1.  To formally endorse the following financial actions:   (i)  The immediate in-year expenditure control measures being implemented by the Corporate Management Team for the remainder of 2025/26, as detailed in Section 6;   (ii)  The core strategic approach for the 2026/27 budget focussed on funding the identified systemic pressures and re-basing budgets, as detailed in Section 8;   2.  To the capital programme budget adjustments, numbered (i) to (iii), as set out in section 9.5 and Annex 1 to the report.

Reasons for the decision: The report provides Cabinet with a view on the 2025/26 forecast outturn for General Fund revenue and capital, as well as the Housing Revenue Account. The decisions are required to approve necessary budget adjustments to the Capital Programme and to recommend approvals to Council where appropriate to ensure finances continue to be sound and the Council meets its duty to monitor spending.

Alternative options considered: Cabinet considered not approving the budget variations or adjustments. This was rejected because insufficient budget would be available for the proposed usage detailed in the report. Consequently, those schemes and initiatives would either need to be aborted or officers would need to return to Cabinet with alternative recommendations at a later date.