DECLARATIONS OF INTEREST FOR THIS ITEM:
None
RESOLVED:
That
Cabinet:
- 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.
- Noted the net DSG
forecast of £3.1m overspend.
- Noted the net Housing
Revenue Account (HRA) forecast underspend of
£514,000.
- 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.
- Approved the revenue
budget virements and receipt of grants as set out in Appendix
8.
- Approved the proposed
budget adjustments and virements to the capital programme as set
out in Table 5 and Appendix 8.
- 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.
- Noted the Finance
Response and Recovery Plans and progress against actions as at
Quarter 2.~
- 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.