Purpose

Budget
Monitoring 25/26 Quarter 1

Content

DECISION
 

1.    
Note the Council’s quarter 1 Revenue and Capital
forecasts as at 30 June 2025.
 

2.    
Approve in principle funding substitutions including NCIL,
CIL and s106, subject to governance process.
 

3.    
Note the progress made against the 2025/26 savings targets of
£33.5m as at 30 June 2025. 

Reasons for the decision

The regular,
timely and accurate reporting of Revenue and Capital Budget
Monitoring and progress against savings targets through the year is
a key financial control. It makes visible variations to budget to
inform decision making and enable the council to take timely
mitigating actions.
 
It is important
that issues driving variations to budget are understood, challenged
and addressed so that the council remains both within the approved
budget envelope and on track to delivering the plans Council
budgeted for.

Alternative options considered

The council could
choose to monitor its budgetary performance against an alternative
time frame, but it is considered that the reporting schedule
provides the appropriate balance to allow strategic oversight of
the budget by Members and to manage the council’s exposure to
financial risk. More frequent monitoring is undertaken by officers
and considered by individual service directors and the
council’s CMT including approval of management
action.