Purpose

The purpose of this report is to provide
Cabinet with an integrated finance and performance update against
Our City: Our Plan priorities for 2025-2026. This is the first
report of the financial year for 2025-2026 and provides an
overview, highlighting early assumptions against Our City: Our Plan
performance framework and financial performance.

Content

1.    
That it be noted, early indications are that there are some
emerging cost pressures in 2025-2026, mainly around increased
demand and inflationary pressures as detailed in the report. These
would be monitored, and an update would be provided in future
reports to Councillors.

 

2.    
That it be noted, early indications are that good progress is being
made against the Our Future Council Savings Targets for 2025-2026.
These would be closely monitored, and an update provided in future
reports to Councillors.

 

3.    
That it be noted, work is ongoing under Our Future Council to set a
balanced budget for 2026-2027, as detailed in Section 5.0 of the
report.

 

4.    
That it be noted, the Deputy Director of Finance (Deputy Section
151 Officer) had approved write-off of debts against the expected
credit loss provision as detailed in Appendix 2 to the report.

 

5.    
That it be noted, the Strategic Risk Register approved by Cabinet
on 11 June 2025 and approved by Audit and Risk Committee on 23 June
2025 is detailed in Appendix 3 to the report.

 
6.    
That the use of £53,000 from the Public Health Reserve to
fund Yo Active Service as detailed in
paragraph 8.6 of the report and establishment of associated
supplementary budgets be approved.

7.    
That 24 virements totalling £25.4 million on the General
Fund, for transfers within directorates, as detailed in Appendix 5
to the report be approved.

 

8.    
That the allocation of up to £1.0 million from the Housing
Revenue Account Balance Reserve to fund the acceleration of stock
condition surveys and the establishment of associated budgets, as
detailed in paragraph 3.71 and paragraph 8.7 of the report be
approved.

 

9.    
That the write-off of debts against the expected credit loss
provision as detailed in Appendix 2 to the report be approved.

 

10. 
That the General Fund Budget 2025-2026 and Medium Term Financial
Strategy (MTFS) risk register as detailed in Appendix 4 to the
report be approved.

 
11. 
That the establishment of supplementary budgets within 2025-2026
that have no impact on the Council’s net revenue budgets as
the expenditure is fully funded from grant or other external income
source as detailed in Section 7 of the report be approved.