Issue - meetings

To note and comment on the First Financial Review and Performance Position of 2025/26.

The Committee considered the report which set out the First Financial Review 2025-26 position based on income, expenditure and known commitments as at the end of June 2025. The First Financial Review 2025-26 reported a forecasted revenue outturn position as an adverse variance of £3.1m after the application of planned use of Exceptional Financial Support £25.3m.

RESOLVED:  That the Committee

1               note the factors leading to a forecast adverse Net Revenue financial pressure of £3.1m against a revised budget of £440.5m (0.7%) and note the contents of Annex 1, Section 2 to the report and the progress on the delivery of the MTFS approved budget policy change items, the RAG ratings and latest forecasts, and understand the actions to be taken to address any adverse variances from the approved budget.

2               note the in-year forecast capital spending of £205.5m against an increased capital budget of £208.5m.  This was adjusted at outturn following an approved MTFS budget of £173m.

3               note that Council will be asked to approve the Supplementary Revenue Estimate Request for Allocation of Additional Grant Funding over £1,000,000 as per Annex 1 to the report at Section 3, Table 1.

4               note the available reserves position as per Annex 1 to the report, Section 5.