Purpose

To Note the Financial Monitoring Report

Decision

It was RESOLVED: -

1. 1          That Cabinet noted the 2025/26 outturn deficit position of £2.470m against a budgeted deficit of £8.353m, a favourable variance of £5.883m as shown in Appendix A.
2. 2          That Cabinet approved the 2025/26 deficit of £2.470m be funded from the Strategic Reserve as shown in Appendix C.
3. 3          That Cabinet noted the 2025/26 capital programme spend and capital financing of £12.851m, is £14.665m below the budget of £27.516m as shown in Appendix B.
4. 4          That Cabinet approved the carry forwards in the capital programme of £452k from 2025/26 to 2026/27 as per Appendix B.
5. 5          That Cabinet approved the delegation to the Director of Finance & Procurement and S151 Officer in consultation with the Cabinet Member for Finance to make final changes to the reserve transfer subject to items identified through the Statement of Accounts preparation and audit.

REASON FOR DECISION

To ensure that Councillors were kept informed of the financial position for Housing Revenue Account.

Alternative Options Considered and Rejected:

The recommended option was set out in the Recommendations. There were no other available options

Any Declarations of Interests Declared: None

Any Dispensation Granted: None