Report attached.

This Report is part exempt and Appendix C is not available for public inspection as it contains or relates to exempt information within the meaning of paragraph 3 of Schedule 12A to the Local Government Act 1972. It is exempt because it refers to information relating to the financial or business affairs of any particular person, and the public interest in maintaining the exemption outweighs the public interest in disclosing the information

Report Title: First Quarter of Financial Year 2025/26 Revenue and Capital Monitoring Report 

Presented by: Councillor Chris Wilkins (Cabinet Member for Finance.)  

Summary:

This report gives an overview of the Council’s financial position setting out the forecast revenue expenditure as at the end of June 2025 with an explanation of the significant variances. It also provides an update on progress towards savings targets and an overview of the capital programme at the end of quarter one.  

Cabinet:

2.1      Noted the revenue monitoring position of the Council as at the end of June 2025 (quarter one of the financial year.) This includes the position on the Council’s General Fund (sections 4, 5 and 6), HRA (Section 8) and DSG budgets (section 9). The consequent impact on the Council’s reserves is set out in section 10. 

2.2      Noted that £11.3m of funding being held centrally will be transferred to Ageing Well (£7.6m) and Living Well (£3.7m) to meet the ongoing demographic pressures in these areas; Also, noted that over allocated growth funding of £0.6m in Starting Well and £1.25m in Environment will be transferred to the corporate budget to reduce the Council’s exceptional financial support requirement.  These changes will have no impact on the overall budget variance. 

2.3      Noted the progress toward the delivery of savings as set out in the Council’s MTFS as at the end of June 2025 (quarter one of the financial year) as set out in section 7 

2.4      Noted the capital monitoring position of the Council as at the end of June 2025 (quarter one of the financial year) as set out in section 11 

2.4      Noted the write-off of uncollectable NNDR debt approved by the Strategic Director of Resources as set out in paragraph as set out in section 12.