Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: September 10, 2025

Purpose:

Content: 8.1 The Director of Finance, Commercial and Performance Services presented a report summarising Sheffield City Council's 2025-26 revenue budget position, noting key variances, risks, and opportunities as of Q1 2025/26. The report builds on the structure and approach of the 2024/25 Q4 paper, with all references and data brought forward to apply to the current financial period.   The 2025/26 Q1 monitoring exercise provides an indication of financial performance against the approved budget for the year. The purpose of the report is to: • Summarise the financial forecast and strategy at 2025/26 Q1 • Identify key variances from the planned budget • Highlight pressure areas and any emerging risks • Provide updates for financial mitigation within service areas • Identify areas requiring updated or new actions for Q2 and beyond     8.2 RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee:-   (a) notes the updated information on the 2025/26 Revenue Budget Outturn as described in the report, including the detailed committee budget monitoring information and management actions provided; and   (b) notes the targeted actions and work underway to bring the in-year forecast overspend down.     8.3 Reasons for Decision     8.3.1 To record formally changes to the Revenue Budget.     8.4 Alternatives Considered and Rejected     8.4.1 The Council is required to both set a balance budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.