Purpose

To note the revenue outturn position against the budget for 2025/26

Decision

Cabinet note:

1. The net revenue expenditure on services in 2025/26, after grant and income carry forwards, resulted in a favourable variance of £1.51M lower than the budget approved by Council in February 2025, as detailed in sections 2 and 6 of the report;
2. The year end contributions to reserves that have been proposed in line with financial policies, as detailed in section 3 of the report.
3. The achievement of planned savings and pressures for 2025/26 as detailed in section 7 of the report; and
4. That budget virements amounting to £0.05M were processed during quarter four, as summarised in section 8 of the report;

Cabinet recommends Council to approve:

1. The proposed transfer of the remaining outturn surplus of £1.51M after grant and income reserve transfers, to earmarked revenue reserves as detailed in section 3of the report:

·       To the Budget Carry Forward Reserve £0.58M for release in future years as required; and

·       To the MTFS Risk Reserve £0.93M

1. The proposed addition to the 2026/27 revenue budget, from the MTFS risk reserve, to fund to the lease surrender for the Winklebury Stadium as detailed in section 9 of the report.