Content

10.1

The Director of Finance, Commercial and
Performance Services presented a report summarising Sheffield City
Council's 2025-26 revenue budget position, noting key variances,
risks, and opportunities as of Q2 2025-26. The report builds on the
structure and approach of the 2025-26 Q1 paper, with all references
and data brought forward to apply to the current financial
period.
 
The 2025-26 Q2 monitoring position provides a
mid-year assessment of financial performance against the approved
budget, offering insight into progress made and emerging trends as
the year unfolds.
 
The purpose of this report is
to:

·      
Summarise the financial forecast and strategy at 2025-26 Q2,
reflecting the mid-year position

·      
Identify forecast key variances from the planned
budget

·      
Highlight pressure areas and any emerging
risks

·      
Provide updates for financial mitigation within service
areas

·      
Identify areas requiring revised or new actions for Q3 and the
remainder of the financial year

 

 

10.2

RESOLVED UNANIMOUSLY: That Strategy and
Resources Policy Committee:-

 

 

 

(a) note the
updated information on the 2025-26 Revenue Budget Outturn as
described in this report including the detailed committee budget
monitoring information and management actions provided;
and
 
(b) note the
targeted actions and work underway to bring the in-year forecast
overspend down.

 

 

10.3

Reasons for Decision

 

 

To record
formally changes to the Revenue Budget.

 

 

10.4

Alternatives Considered and
Rejected

 

 

10.4.1

The Council is required to both set a balance budget and to
ensure that in-year income and expenditure are balanced. No other
alternatives were considered.