Agenda item - Targeted Budget Management (TBM) 2025/26 Month 5 (August)

1)             Cabinet notes the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £9.406m.

2)             Cabinet notes the forecast overspend risk for the separate Housing Revenue Account (HRA), which is an overspend of £1.192m.

3)             Cabinet notes the forecast overspend risk for the ring-fenced Dedicated Schools Grant, which is an overspend of £2.843m.

4)             Cabinet notes the forecast position on the Capital Programme which is an underspend variance of £5.901m.

5)             Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 6.

6)             Cabinet approves the new capital schemes requested in Appendix 7.

7)             Cabinet notes the Treasury Management update as set out in Appendix 8 and summarised in paragraph 9.

8)             Cabinet notes the strategic decisions being considered to reshape the city’s approach to temporary accommodation and establish long-term financial sustainability and that reports outlining these proposals in detail will be presented to Cabinet for consideration at a future date.

9)             Cabinet agrees to extend existing and future lease arrangements for Temporary Accommodation to at least 10 years and 1 day where appropriate, and delegate authority to Corporate Director – Homes & Adult Social Care, in consultation with the Lead Member for Housing, to implement.

10)          Cabinet agrees the set of Strategic Aims in Appendix 9 for the purpose of Direct Offers, in effect until 31 March 2026 and reviewed in January 2026.

54.1      Cabinet considered a report that set out an indication of forecast risks as at Month 5 on the council’s revenue and capital budgets for the financial year 2025/26.

54.2      Councillors Sankey, Taylor, Daniel and Williams asked questions and contributed to the debate of the report.

54.3      Resolved-

1)            Cabinet notes the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £9.406m.

2)            Cabinet notes the forecast overspend risk for the separate Housing Revenue Account (HRA), which is an overspend of £1.192m.

3)            Cabinet notes the forecast overspend risk for the ring-fenced Dedicated Schools Grant, which is an overspend of £2.843m.

4)            Cabinet notes the forecast position on the Capital Programme which is an underspend variance of £5.901m.

5)            Cabinet approves the capital budget variations and re-profiling requests set out in Appendix 6.

6)            Cabinet approves the new capital schemes requested in Appendix 7.

7)            Cabinet notes the Treasury Management update as set out in Appendix 8 and summarised in paragraph 9.

8)            Cabinet notes the strategic decisions being considered to reshape the city’s approach to temporary accommodation and establish long-term financial sustainability and that reports outlining these proposals in detail will be presented to Cabinet for consideration at a future date.

9)            Cabinet agrees to extend existing and future lease arrangements for Temporary Accommodation to at least 10 years and 1 day where appropriate, and delegate authority to Corporate Director – Homes & Adult Social Care, in consultation with the Lead Member for Housing, to implement.

10)         Cabinet agrees the set of Strategic Aims in Appendix 9 for the purpose of Direct Offers, in effect until 31 March 2026 and reviewed in January 2026.