Purpose

To report on the Capital & Revenue Budgets on a quarterly
basis and note the Treasury Management Report and treasury
management activities

Content

RESOLVED
 
KEY DECISION
 
That the Executive:

 

a)      
Noted the Council’s forecast
outturn position for 2025/26 for the following revenue funds as set
out in Appendix A:

 

i)         
General Fund – overspend of
£15.311m

ii)       
Housing Revenue Account (HRA)
– underspend of £942k

iii)     
Dedicated Schools Grant (DSG) -
deficit position of £19.390m.

 

b)      
Noted the provisional capital
outturn position and indicative funding for the General Fund (GF)
Capital Programme and Housing Revenue Account (HRA) Capital
Programme for 2025/26 as forecast at Quarter 2, as included in
Appendix A.

 

c)       
Noted that £511k of the
Corporate Contingency will be used for the pay award which was
higher than budget and £150k will be used to fund a review of
the delivery of Adult Social Care Transformation for older person
pathways.

 

d)      
Approved the budget re-profiling
across the MTFP Capital Programme of £24.4m as included
in Appendix
A.

 

e)      
Noted the treasury management
quarter 2 position detailing the activity undertaken during the
second quarter of the financial year ending 31st
March 2026 and the performance
achieved set out in Appendix A
to this report,

 

f)         
Noted the assessment of the
current deliverability of the 2025/26 General Fund savings
proposals as set out in Appendix A.
 
 

Reasons for Recommendations
– to note the forecast financial position for 2025/26 as at
Quarter 2 and consider the impact on this year and future years
budgets.

 

The Council’s Treasury
Management Strategy Statement (TMSS) is underpinned by the CIPFA
Code of Practice on Treasury Management (“the Code”)
which requires that members are informed of treasury management
activities on a quarterly basis each financial year. Full Council
has delegated the formulation and monitoring of the Council’s
treasury management strategy, policy, and activity to the Executive
Committee.

 

Alternative Options Considered:
The report focuses on the forecast revenue outturn against budget
for 2025/26 and makes recommendations for the Executive to note the
current budgetary position as such there are no specific choices
within the report.