Decision - Targeted Budget Management (TBM) 2025/26 Month 2 (May)

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Targeted Budget Management (TBM) 2025/26 Month 2 (May)

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Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report presents the 2025-26 in-year financial performance to Month 2 (May) for noting by Cabinet and seeks approval for any capital variations, reprofiling, exception measures or new reserves.

Decision:

1) Cabinet notes the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £15.486m.

2) Cabinet notes the forecast overspend risk for the separate Housing Revenue Account (HRA), which is an overspend of £0.450m.

3) Cabinet notes the forecast overspend risk for the ring-fenced Dedicated Schools Grant, which is an overspend of £4.437m.

4) Cabinet notes the forecast position on the Capital Programme which is an underspend variance of £0.417m.

5) Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 5.

6) Cabinet approves the new capital schemes requested in Appendix 6.

Report author: James Hengeveld

Publication date: 18/07/2025

Date of decision: 17/07/2025

Decided at meeting: 17/07/2025 - Cabinet

Effective from: 26/07/2025

Accompanying Documents:

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