Purpose

Provide Budget update on Month 3 monitoring

Content

RESOLVED
That Executive
Cabinet approve:

(i)              
An increase to the Council’s 2025/26 net expenditure
budget from £294.779m to £295.988m following a
£1.209m increase to the 2025/26 Public Health Grant announced
after the budget was approved in March 2025, which the Council will
receive as additional Business Rates Top-Up Grant. £0.504m of
this has been transferred to Public Health at Period 3 to fund
inflation and investment, with the remaining amount transferred to
Contingency to be drawn upon when required;

(ii)            
Transfers from Contingency to service budgets totalling
£19.762m, as summarised at paragraphs 1.5 to 1.6 and Appendix
1;

(iii)          
Transfers to/from earmarked reserves totalling £2.073m, as
summarised in Appendix 2;

(iv)          
Removal of two savings targets following implementation of the
Parking Review 2025 approved by Executive Cabinet on 23 April 2025,
with permanent funding released from Contingency to cover:

·       
2425_PL5 Parking Strategy implementation £0.268m

·       
2425_PL6 – Parking infrastructure improvements
£0.115m;

(v)            
Acceptance of grant funding detailed in Appendix 7.