Purpose

To update Cabinet with the financial position for 2025/26 and agree budget virements as necessary.

Decision

RESOLVED that Cabinet: -

(a)           noted the budget monitoring position for quarter two 2025/26;

(b)           requested a detailed report to December Cabinet from the Corporate Director for Children’s Services on the High Needs Dedicated Schools Grant expenditure forecast and available mitigation measures in 2025/26. This report will need to seek Council approval for any additional resources over the approved 2025/26 budget; and

(c)           requested the council’s senior leadership team and portfolio holders consider what further action can now be taken to ensure the actual financial outturn is within the Council approved budget for 2025/26, including bringing forward any planned savings already approved by Council for 2026/27 that can be delivered early.

Voting: Unanimous

Portfolio Holder: Finance

Reason

To comply with accounting codes of practice and best practice which requires councils to regularly monitor the annual budget position and take any action to support the sustainability of the council’s financial position.

To comply with the council’s financial regulation concerning approval for budget virements.