Decision details

The Committee considered the report which set out the First Financial Review 2025-26 position based on income, expenditure and known commitments 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 at £25.3m.

There was a £0.114m overspend forecast for Highways and Transport.

To manage pressures in the Place directorate in year mitigations through further vacancy management, reducing expenditure and maximising funding opportunities would be implemented.

RESOLVED:

That the Highways and Transport Committee (By Majority)

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

2. Review 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. Approve the Supplementary Capital Estimate Requests for Allocation of Additional Grant Funding over £500,000 and up to £1,000,000 as per Annex 1, Section 4, Table 4. Page 21

4. Note that Council will be asked to approve the Supplementary Capital Estimate Request for Allocation of Additional Grant Funding over £1,000,000 as per Annex 1, Section 4, Table 5.

5. Note the available reserves position as per Annex 1, Section 5.