Purpose

To present Strategy and Resources Committee
with the latest detailed financial outturn report and identify any
additional financial approvals that are required.

Content

That the Committee noted:

1.     
The council’s General Fund forecast outturn revenue overspend
of £16.5 million at P8 2025/26 against the council approved
budget of £571.4 million.

2.     
The additional weighted net opportunity to the General Fund of
£3.5 million per the risks and opportunities register
(Appendix A1a, Section 4, Tables 4a and 4b)

3.     
The performance on delivery of savings (Appendix A1a, Section 5,
Tables 5a and 5b).

4.     
The council’s outturn position of £0.5 million
overspend within the Housing Revenue Account to be contained by the
HRA general reserve at the year end (Appendix A1a, Section
7.3).

5.     
The additional weighted net risk to the HRA of £0.7 million
per the risks and opportunities register (Appendix A1a, Section 4,
Tables 4a and 4b)

6.     
The council’s outturn position of a £40.0 million net
overspend in the Dedicated Schools Grant
and that, as part of the DfE Safety Valve agreement, the General
Fund approved budget for 2025/26 includes the transfer of
£11.7 million to an earmarked reserve at year end (Appendix
A1a, Section 7.4).

7.     
The breakeven position on Public Health services (Appendix A1a,
Section 7.5).

8.     
The breakeven position on the Bristol Harbour Fund. (Appendix A1a,
Section 7.6).

9.     
The progress update on budget recovery measures and actions in
accordance with Budget Management Principles. (Appendix A1a,
Section 6).

10. 
The latest position on balance sheet risks.

11. 
The council’s forecast underspend of £22.3 million
against the Capital Programme revised budget 2025/26, comprised of
£11.8 million underspend on the General Fund and £10.5
million underspend on the HRA. (Appendix A1b, Section 1).

12. 
The planned use of capital receipts of £20.7 million.

13. 
The in-year collection levels for Council Tax and Business Rates as
set out in the reports (Appendix A1a section 8)

14. 
The levels of aged debt as at 30
November 2025 (Appendix A1a, section 8.9)

15. 
Balances on the General Fund and Earmarked Reserves at P8 and
movements from P5 to P8 close (Appendix A1a, section 10).
 
That the Committee approved (unanimous vote in
favour):

1.     
Movements on Earmarked Reserves (Appendix A1a, Table 11).

2.     
The release of £1.3 million corporate held inflation and pay
inflation budget as approved in the 2025/26 budget but not
initially allocated to directorates’ cash limits (see
Appendix A1a, Table 3a and 3b)

3.     
Revision to the DSG gross budget following Period 8 reporting to
reflect advised £2.1 million reduction in the budget
allocation since Period 5.