Purpose

This report provides Executive
Cabinet with the forecast position in relation to the revenue
budget for 2025/26 at Period 6. It summarised the latest position
with regard to:

•                     
The delivery of the revenue budget
for 2025/26

•                     
The implementation of recovery
plans to bring the 2025/26 budget position back into
balance

•                     
Requested transfers from the
Contingency budget

•                     
The implementation of 2025/26
budget savings and those brought forward from prior
years

•                     
The Council’s reserves and
balances

•                     
The Council’s treasury
management activity

•                     
The Dedicated Schools Grant (DSG)
budget

•                     
Other financial matters, including
acceptance of grant funding. 

Content

RESOLVED

That Executive
Cabinet NOTE:

(i)                
The forecast
General Fund revenue budget pressure of £7.038m after
implementation of recovery plans totalling £3.450m, and
contingent on remaining actions and recovery plans to stabilise the
in-year position. Further plans of£6.512m are being developed
and must be delivered by the end of the year, as outlined in
paragraphs 1.1 to 1.4

(ii)              
The scale of
the challenge that this presents, and the importance of continued
support for the ongoing efforts to stabilise the in-year position,
as detailed in Section 2.

(iii)            
The forecast
position with regard to the implementation of2025/26 budget
savings, as detailed in Appendix 3

(iv)            
The current
investment and borrowing position as detailed in Appendix
5

(v)              
The forecast
in-year deficit on the DSG of £24.357m, as outlined in
Appendix 6

That Executive
Cabinet APPROVE:

(vi)            
Transfers from
Contingency to service budgets totalling £1.870m, as
summarised at paragraphs 1.5 to 1.6 and Appendix 1.

(vii)          
Recovery plans
totalling £3.450m to help manage the forecast budget
pressures, noting that these plans will only partly mitigate the
overall pressure, as summarised in Appendix 8.

(viii)        
Transfers
to/from earmarked reserves totalling £0.781m, as summarised
in Appendix 2.

(ix)            
Acceptance of
grant funding detailed in Appendix 7