Decision details

DECLARATIONS OF INTEREST FOR THIS ITEM:

None

RESOLVED:

That Cabinet:

1. Noted the forecast total revenue outturn variance for the General Fund of £23.4m, comprising £14.72m base budget pressures and £8.7m non-delivery of savings.
   
   
2. Noted the net DSG forecast of £3.1m overspend.
   
   
3. Noted the net Housing Revenue Account (HRA) forecast underspend of £514,000.
   
   
4. Noted the forecast General Fund and HRA Capital expenditure of £441.4m, which equated to 85% of the total 2025/26 quarter two revised budget position.
   
   
5. Approved the revenue budget virements and receipt of grants as set out in Appendix 8.
   
   
6. Approved the proposed budget adjustments and virements to the capital programme as set out in Table 5 and Appendix 8.
   
   
7. Noted the debt write-offs approved in Quarter 2 2025/26, which had been approved by the Corporate Director of Finance and Resources under delegated authority, or for those above £50,000, by the Cabinet Member for Finance as set out in the Constitution.
   
   
8. Noted the Finance Response and Recovery Plans and progress against actions as at Quarter 2.~
   
   
9. Noted the decision not to participate in the 8 Authority Pool during the 2026/27 financial year, taken by the Director of Finance and Corporate Resources following consultation with the Lead Member for Finance and Corporate Services.
   
   

Reason for Decision

A strong financial management framework, including oversight by Members and senior management, was an essential part of delivering the council’s priorities as set out in the Corporate Delivery Plan and meeting its statutory duties. This was made more critically important than ever because of the uncertainties surrounding the Council’s challenging financial position, which was being impacted by Government funding, high demand for services—particularly for the most vulnerable—and the wider economic outlook. This created an ongoing reliance on Exceptional Financial Support.

Alternative Options Considered

The report on the management of the Council’s financial resources was a key part of the role of the Corporate Director of Finance and Resources (Section 151 Officer) in helping members exercise their role, and no other options were therefore considered. The remainder of this report and the accompanying appendices set out the current forecast budget position in more detail.