Issue - meetings

That Cabinet:

(a)         note the General Fund projected favourable outturn variance of £0.303m;

(b)         note the Housing Revenue Account projected unfavourable outturn variance of £0.409m to the Major Repairs Reserve;

(c)         approve the variations to the Capital Programme at Appendix C;

(d)         approve the Capital Programme revised budget and financing of £55.240m; and

(e)         note the Prudential indicators at Appendix F.

The Business Manager- Financial Services presented a report regarding the projected General Fund and Housing Revenue Account Revenue and Capital Outturn Report to 31 March 2026 as at 30 June 2025, forecasting the outturn position for the 2025/26 financial year for the Council’s General Fund and Housing Revenue Account revenue and capital budgets. The report detailed performance against the approved estimates of revenue expenditure and income; major variances from planned budget performance; and variations to the Capital Programme for approval; all in accordance with the Council’s Constitution.

Members noted a projected unfavourable variance against the revised budget of £0.395m on Service budgets, representing 1.88% of the total service budgets, with an overall favourable variance of £0.303m that would need to be transferred to the General Fund reserve. The HRA accounts showed a projected unfavourable variance on the Net Cost of HRA Services against the revised budget of £0.355m and a reduced transfer to the Major Repairs Reserve of £0.409m. The Council had been fully compliant with all prudential indicators during the reporting period.

Members discussed performance in relation to recruitment, and queried whether the forthcoming Local Government Organisation (LGR) might have an impact, noting that recruitment could often take a while due to notice periods. The Chief Executive explained that there were pockets of recruitment that had always been challenging but LGR had the potential to give wider employment opportunities for staff. Members emphasised the importance of accurate and responsible communication with staff in the work towards the Reorganisation.  

AGREED (unanimously) That Cabinet:

(a)         note the General Fund projected favourable outturn variance of £0.303m;

(b)         note the Housing Revenue Account projected unfavourable outturn variance of £0.409m to the Major Repairs Reserve;

(c)         approve the variations to the Capital Programme at Appendix C;

(d)         approve the Capital Programme revised budget and financing of £55.240m; and

(e)         note the Prudential indicators at Appendix F.

Reasons for Decision:

To consider the forecast outturn position for the 2025/26 financial year for the Council’s General Fund and Housing Revenue Account revenue and capital budgets.

To show performance against the approved estimates of revenue expenditure and income; report on major variances from planned budget performance; and report on variations to the Capital Programme for approval; all in accordance with the Council’s Constitution.

Options Considered:

Not applicable.