Agenda item

That Cabinet:

(a)      note the General Fund projected outturn variance of £0m;

(b)     note the Housing Revenue Account projected favourable outturn variance of £0.117m to the Major Repairs Reserve;

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

(d)     approve the Capital Programme revised budget and financing of £53.759m; and

(e)     note the Prudential indicators at Appendix H to the report.

The Business Manager - Financial Services presented a report which detailed the forecast outturn position for 2025/26 as at 31 December 2025 (Quarter 3) for the Council’s General Fund and Housing Revenue Account revenue and capital budgets. The report detailed performance against the approved budget 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.

Members noted a projected favourable variance on Service budgets against the revised budget of £0.385m, with an overall favourable variance of £0m to be transferred to General Fund reserves. The favourable variance of £0.385m on service budgets managed by business managers represented 1.84% of the total service budgets. The Council had been fully compliant with all prudential indicators during the reporting period.

AGREED      (unanimously) that Cabinet:

a)           note the General Fund projected outturn variance of £0m;

b)          note the Housing Revenue Account projected favourable outturn variance of £0.117m to the Major Repairs Reserve;

c)           approve the variations to the Capital Programme at Appendix E to the report;

d)          approve the Capital Programme revised budget and financing of £53.759m; and

e)                note the Prudential indicators at Appendix H to the report.

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, this report presents budget performance information.