Purpose

This report presents a summary of the 2025/26 outturn position across the Lancashire Combined County Authority Revenue and Capital Budgets and summarises the reserves position. This is the final position for 2025/26 building upon regular budget monitoring reports previously reported to the Lancashire Combined County Authority Board.

The final revenue outturn for 2025/26 is an underspend of £0.699m, which results in an increased contribution to reserves in 2026/27. This reflects an improvement from the position reported at Quarter 3, when an underspend of £0.056m was forecast. As this has been the authority’s first annual outturn position, there has inevitably been fluctuations to previous forecasts, but funds not spent will result in an increased reserve level that can be utilised for future investment in priority areas.

Decision

The Lancashire Combined County Authority approved the recommendation(s) as set out in the report.