Purpose

Financial outturn position for 2025-26.

Decision

Resolved

That Cabinet

1. Notes the net spend in 2025-26 and the consequent residual net revenue underspend of £3.329m (0.51% of Net Revenue Budget) for the organisation at the end of the year; 
2. Notes the significant underlying service overspend of £14.263m within directorates being covered by corporate provisions and Treasury Management returns;
3. Notes the explanations and mitigating actions for variations to budgets, and the implications for the Medium-Term Financial Strategy, as set out in Appendix A to the report;
4. Approves the use of £5.664m from Earmarked Reserves to fund the 202526 revenue position, as outlined in Section 5 of and Appendix E to the report;
5. Notes the delivery of £14.714m (67.4%) savings in 2025-26, a shortfall of £7.131m against the target of £21.846m, as set out in Section 4 of the report;
6. Approves the re-phasing of a total of £0.242m 2025-26 revenue budget allocations into 2026-27, as outlined in Appendix D to the report;
7. Approves the drawdown of £1.132m from the Revenue Investment Funds to support the delivery of the Council Plan in 2026-27, as outlined in Section 6 of and Appendix C to the report;
8. Notes the total capital spend in 2025-26 of £133.399m; and
9. Approves the reprofiling of £95.012m of Services’ capital spend from 2025-26 into future years.