Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 19, 2025

Purpose: To provide an integrated finance, performance and risk update against Our City: Our Plan priorities for 2025-2026.

Content: That Cabinet noted: 1.    The General Fund projected outturn for 2025-2026 is currently an overspend of £5.5 million as detailed in section 4 of the report.   2.    The Housing Revenue Account (HRA) is projecting an overall underspend of £1.8 million for 2025-2026 which is proposed to be used to support the costs of the capital programme, reducing the borrowing requirement as detailed in section 6 of the report.   3.    Good progress is being made against the £25.2 million of Our Future Council saving target / proposals for 2025-2026. However, there is currently circa £2.5 million of savings at risk of slippage / non-delivery as detailed in paragraphs 4.11 to 4.14 and in Appendix 3 to the report.   4.    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 6 to the report.   5.    The latest version of the Strategic Risk Register approved as detailed in Appendix 7 to the report would be presented to Audit and Risk Committee on 24 November 2025.   That Cabinet approved: 1.    The use of up to £800,000 from the Insurance Reserve to fund additional expenditure as detailed in paragraph 8.6 of the report and establishment of associated supplementary budgets.   2.    The use of £20,000 from the Climate Change Reserve Earmarked to fund a feasibility study as detailed in paragraph 8.7 of the report and establishment of associated supplementary budgets.   3.    The use of £150,000 from the Sustainable Medium Term Financial Strategy (MTFS) Reserve to fund additional support within the SENSTART Service as detailed in paragraph 8.8 of the report and establishment of associated supplementary budgets.   4.    The use of £54,410 from the Sustainable MTFS Reserve to fund additional support within Commissioning as detailed in paragraph 8.9 of the report and establishment of associated supplementary budgets.   5.    Actioning the pay award virement from Pay Award Provision held Corporately to services totalling £5.9 million as detailed in paragraph 4.6 and included in Appendix 9 to the report.   6.    Delegation to the Section 151 Officer to action any subsequent pay award virements as necessary.   7.    A further 10 virements totalling £2.4 million, for transfers within directorates, as detailed in Appendix 9 to the report. 8.    The write-off of debts against the expected credit loss provision as detailed in Appendix 6 to the report.   9.    The General Fund Budget 2025-2026 and MTFS risk register as detailed in Appendix 8 to the report.   10.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.