Issue - meetings

To receive the 2025/26 Financial Outturn Report.

To recieve the final outturn position for 2025/26.

RESOLVED – that:

a)    the performance against the 2025/26 Net Revenue budget which resulted in outturn being within budget by £133k be noted;

b)    the revenue outturn position for 2025/26, which remains subject to audit by the Council’s external auditors, and related virements in Appendix C be noted;

c)     the transfers to reserves, and associated approval to the relevant members of the Senior Management Team after consultation with the relevant Cabinet Member to spend the reserves detailed in Appendix E be noted;

d)    delegated authority be granted to the Chief Executive, in consultation with the Section 151 Officer in relation to the Income/Budget equalisation reserve to approve its use;

e)    the capital outturn position and related supplementary estimates, re-phasing and virements shown in Appendix D and as summarised in the report be noted;

f)      delegated authority be granted to the Director: Finance, People & IDT to make any changes required, in consultation with the Cabinet Member for Finance, Governance and Customer Services; and

g)    the performance against income targets be noted.

The Cabinet Member for Finance and Resident Services presented the financial outturn report for 2025/26.

The report demonstrated that the Council had delivered a balanced budget, with an underspend of £133,000 against a net budget of £167.6m, reflecting strong financial management despite significant national pressures facing local government. The Council had continued to prioritise the protection of frontline services while maintaining a disciplined and resilient financial approach.

It was noted that the Council faced additional costs of approximately £6.8m within Adult Social Care, alongside further pressures within Children’s Services equating to £2.8m and Education & Skills equating to £1.6m.

Despite this, over 90% of planned savings had been achieved and investment programmes, including housing delivery through Nuplace had continued to generate income and support local priorities delivering £6.3m in rental income and £2m returned to the Council. At the time of the meeting, no use had been made of strategic reserves to balance the budget.

Cabinet Members highlighted the importance of sustained investment, robust financial discipline and strong leadership in maintaining high-quality services and commended the Council’s Finance Officers for their professionalism and commitment.

The Leader of the Liberal Democrat Group welcomed the report but highlighted ongoing national funding pressures, particularly in relation to Adult Social Care, noting that these remained a systemic issue requiring central government reform.

The Leader of the Conservative Group supported the financial management achieved but similarly emphasised that Adult Social Care pressures were driven by national funding arrangements and continued to place strain on local authorities.

In response, the Leader of the Council reiterated that the Council’s approach to investment and income generation had enabled it to remain financially stable while continuing to deliver positive outcomes for residents.

RESOLVED – that:

a)    the performance against the 2025/26 Net Revenue budget which resulted in outturn being within budget by £133k be noted;

b)    the revenue outturn position for 2025/26, which remains subject to audit by the Council’s external auditors, and related virements in Appendix C be noted;

c)    the transfers to reserves, and associated approval to the relevant members of the Senior Management Team after consultation with the relevant Cabinet Member to spend the reserves detailed in Appendix E be noted;

d)    delegated authority be granted to the Chief Executive, in consultation with the Section 151 Officer in relation to the Income/Budget equalisation reserve to approve its use;

e)    the capital outturn position and related supplementary estimates, re-phasing and virements shown in Appendix D and as summarised in the report be noted;

f)      delegated authority be granted to the Director: Finance, People & IDT to make any changes required, in consultation with the Cabinet Member for Finance, Governance and Customer Services; and

g)    the performance against income targets be noted.