Agenda item

The Cabinet Leader for Finance and Resources presented the report.

The report outlined the financial position on revenue and capital budgets as at the end of Quarter1 (Q1) (April to June 2025) and forecast outturn position for 2025-26. The Quarterly presentation was in line with best practice under the CIPFA Financial Management Code. The report also provided details of performance against Prudential Indicators as at Q1 in line with the CIPFA Treasury Management Code of Practice.

Cabinet unanimously resolved to:

           i.       Note this 2025/26 Q1 Finance Monitoring Report and the forecast overspend against budget of £29k on the General Fund and the forecast overspend against budget of £1.876m on the Housing Revenue Account.

          ii.       Note the progress to date on delivering against the savings targets for the General Fund and the Housing Revenue Account.

        iii.        Note the actions planned by services to ensure that overspends are addressed and that the savings targets are achieved.

        iv.       Note the progress on the capital programme for Q1.

         v.       Note the performance against the Prudential Indicators for Treasury Management for Q1 as set out at Appendix C of the Officer’s report.