Purpose

This report provides the
2025/26 budget monitor for General Fund revenue and capital
forecasts against budget, as well as the Housing Revenue Account to
the 31st December 2025. This report also details how the identified
structural pressures are being addressed within the proposed
2026/27 Budget and Medium-Term Financial Strategy (MTFS) to ensure
long-term financial resilience.

Decision

Cabinet agreed the
following:
 
1.  To endorse the acceleration of the Asset
Disposal Programme as a strategic de-risking measure to reduce the
Council’s long-term maintenance and compliance
liabilities;
 
2.  To approve the capital programme budget
adjustments, numbered (i) to (iii), as set out in section 10.5 and
Annex 1 to the Cabinet report.

Reasons for the decision

The report provides Cabinet
with a view on the 2025/26 forecast outturn for General Fund
revenue and capital, as well as the Housing Revenue Account. The
decisions are required to approve necessary budget adjustments to
the Capital Programme and to recommend approvals to Council where
appropriate to ensure finances continue to be sound and the Council
meets its duty to monitor spending.

Alternative options considered

Cabinet considered not
approving the budget variations or adjustments. This was rejected
because insufficient budget would be available for the proposed
usage detailed in the report. Consequently, those schemes and
initiatives would either need to be aborted or officers would need
to return to Cabinet with alternative recommendations at a later
date.