Issue - meetings

This report summarises the Council’s provisional financial performance for 2025/26 and details the capital budgets to be carried forward for schemes where costs will be incurred in 2026/27.

Following consideration, the Committee resolved with 7 votes for and one vote against to:

(1)        Receive the report on provisional financial outturn for 2025/26;

(2)        Approve the carry forward £2.619 million budget for capital schemes to be added to the 2026/27 capital programme.

(3)        Note that the provisional outturn position is subject to external audit. Should any material changes arise from the audit, these will be reported back to members.

(4)        Agree to fund the 2025/26 adverse outturn position of £410,000 from the corporate projects reserve.

(5)        Agree to fund the increased provision detailed in section 5.2 from the corporate projects reserve.

The Committee received a report summarising the Council’s provisional financial performance for 2025/26 and details the capital budgets to be carried forward for schemes where costs will be incurred in 2026/27.

The following matters were considered:

a)            Period covered by data – Hardwicks Yard. In response to a question from a member, the Director of Corporate Services and S151 Officer informed the committee that the provisional outturn report was backward-looking and covered the period to 31 March 2026. An update on Hardwicks Yard playground could be provided to the member following the meeting.

b)            Quarter 1 financial reporting. In response to a question from a member, the Director of Corporate Services and S151 Officer informed the committee that Quarter 1 financial reporting would be presented to the Audit and Scrutiny Committee for consideration.

c)            Capital programme underspend. In response to a question from a member, the Director of Corporate Services and S151 Officer provided the committee with an overview of the Section 24 requirements placed on the council as a result of Local Government Reorganisation. The committee was informed that a number of projects would not need shadow authority approval but that in cases where such approval was required, there were process to facilitate this.

d)            Temporary accommodation. In response to a question from a member, the Director of Corporate Services and S151 Officer informed the committee of the actions taken to address a past structural deficit in the budget for temporary accommodation. The Chair informed the committee that the matter was reviewed regularly and would be brought back to the committee if necessary.

e)            Property acquisition. In response to a question from a member, the Director of Corporate Services and S151 Officer informed the committee that the council’s facility to borrow money for property acquisitions was only used when the council decided to undertake an acquisition. There was no cost or charge to the council for having this facility available to it. Due to LGR, the council would not be undertaking any further property acquisitions.

Following consideration, the Committee resolved with 7 votes for and one vote against to:

(1)      Receive the report on provisional financial outturn for 2025/26;

(2)      Approve the carry forward £2.619 million budget for capital schemes to be added to the 2026/27 capital programme.

(3)      Note that the provisional outturn position is subject to external audit. Should any material changes arise from the audit, these will be reported back to members.

(4)      Agree to fund the 2025/26 adverse outturn position of £410,000 from the corporate projects reserve.

(5)      Agree to fund the increased provision detailed in section 5.2 from the corporate projects reserve.