Decision details

Cabinet received a report updating Members on the projected General Fund (GF), Housing Revenue Account (HRA) and Capital 2025/26 net expenditure and seeking approval to amend the General Fund, HRA and Capital budgets as part of the quarterly revenue monitoring review.

Members noted that there was a projected net underspend of £548,850 in the General Fund, driven by increased investment income, off-street parking revenue, and transformation savings.  It was noted that both the General Fund and HRA balances remained above minimum thresholds, ensuring financial resilience. Members were pleased to note that the Council was broadly on track to deliver its planned savings

It was RESOLVED:

General Fund

1.    That the 2025/26 first quarter projected net decrease in General Fund expenditure of £548,850 be approved.

2.    That the proposed movement on reserves as detailed in paragraph 4.2.1 be noted.

Housing Revenue Account

3.    That the 2025/26 first quarter net decrease in HRA expenditure of £35,540 be approved.

Capital Programme

4.    That the General Fund capital budget re-phasing of £9 Million from 2025/26 to future years be approved.

5.    That the Housing Revenue Account capital budget re-phasing of £9 Million from 2025/26 to future years be approved.

6. That net changes to budgets fully grant funded of (£5K) in paragraph 4.9.2 be noted.
   
   
7. That General Fund and HRA virements in section 4.10 be approved.
   
   
8. That the proposed changes to the funding of the General Fund and HRA capital budgets in section 4.11 be approved.