Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: February 16, 2026

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 to the 31st December 2025. This report also details how the identified structural pressures are being addressed within the proposed 2026/27 Budget and Medium-Term Financial Strategy (MTFS) to ensure long-term financial resilience.

Content: Cabinet agreed the following:   1.  To endorse the acceleration of the Asset Disposal Programme as a strategic de-risking measure to reduce the Council’s long-term maintenance and compliance liabilities;   2.  To approve the capital programme budget adjustments, numbered (i) to (iii), as set out in section 10.5 and Annex 1 to the Cabinet 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.