Purpose

This report provides Executive Cabinet with the forecastoutturn position in relation to the revenue budget for 2026/27at Period 3. It summarises the latest position with regard to:

•         The delivery of the revenue budget for 2026/27

•         The Council’s reserves and balances

•         The implementation of 2026/27 budget savings andthose brought forward from prior years

•         The Council’s treasury management activity• The Dedicated Schools Grant (DSG) budget

•         Acceptance of grant funding

•         Transfers from the Contingency budget

Decision

RESOLVED

(i)                That the forecast General Fund revenue budget pressure of £15.054m be Noted and it be Noted that at this relatively early stage of the financial year this provided a very prudent forecast and worst case position. Mitigating action would be taken through the course of the financial year to recover and improve this position

(ii)              The forecast position with regard to the implementation of 2026/27 budget savings, as detailed in Appendix 3 be Noted.

(iii)            The current investment and borrowing position as detailed in Appendix 4 be Noted.

(iv)            The forecast in-year deficit on the DSG of £27.792m, as detailed in Appendix 5 be Noted.

(v)              Approval be given to the acceptance of grant funding in Appendix 6

(vi)            Approval be given to the transfers from Contingency, totalling £1.4m, as detailed in paragraph 9.