Decision Maker: Strategy and Resources Policy Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: December 10, 2025

Purpose:

Content: 10.1 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 Q2 2025-26. The report builds on the structure and approach of the 2025-26 Q1 paper, with all references and data brought forward to apply to the current financial period.   The 2025-26 Q2 monitoring position provides a mid-year assessment of financial performance against the approved budget, offering insight into progress made and emerging trends as the year unfolds.   The purpose of this report is to: ·       Summarise the financial forecast and strategy at 2025-26 Q2, reflecting the mid-year position ·       Identify forecast key variances from the planned budget ·       Highlight pressure areas and any emerging risks ·       Provide updates for financial mitigation within service areas ·       Identify areas requiring revised or new actions for Q3 and the remainder of the financial year     10.2 RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee:-       (a) note the updated information on the 2025-26 Revenue Budget Outturn as described in this report including the detailed committee budget monitoring information and management actions provided; and   (b) note the targeted actions and work underway to bring the in-year forecast overspend down.     10.3 Reasons for Decision     To record formally changes to the Revenue Budget.     10.4 Alternatives Considered and Rejected     10.4.1 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.