Purpose

To update cabinet on financial position at quarter 1 2026/27

Decision

RESOLVED that Cabinet: -

(a)            noted the quarter 1 position for 2026/27, actions taken by the S151 officer to date as well as the action plan being delivered by all directors;

(b)            approved the general fund capital virement set out in paragraph 3 of appendix C1 (Capital Investment programme)

RECOMMENDED that Council: -

(c)            Note and approve the general fund capital virements set out in paragraphs 4, 5 and 6 of Appendix C1 (capital investment programme).

(d)            Approve the general fund budget virement of £2.16m from the Housing budget to central contingency as set out in paragraph 37 a) of this report, to support the council budget pressures.

(e)            Approve a temporary budget virement of £2.2m representing revenue budget for borrowing repayment not used in 2026/27 to central contingency as set out in paragraph 37 c) of this report, to support the council budget pressures.

(f)              Approve the Pride in Place Programme – role of the council as accountable body recommendations set out in Appendix A5.

(g)            Note the Community Infrastructure Levy (CIL) annual update in Appendix C4.

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 regulations regarding capital virements, acceptance of grants and new borrowing.