Issue - meetings

To receive a report presenting details of the Council’s financial performance for 2025/2026 as at quarter 3.

The Cabinet has

(1)  considered and commented on the revenue financial performance for the financial year 2025/26 quarter 3, as detailed in Appendix 1 and summarised in paragraph 3.2 in the submitted report; and

(2)  considered and commented on the capital financial performance for 2025/26 quarter 3, as detailed in Appendix 3 and summarised in paragraph 3.3 in the submitted report.

A report by the Corporate Director (Finance and Resources) was submitted (a copy of which is appended to the Minute Book) presenting details of the Council’s financial performance for 2025/26 as at quarter 3. The Executive Councillor for Finance and Resources, Councillor Mickelburgh introduced the report, commenting that the Council was in a good, strong financial position, and he advised where some of the overspends and underspends had come from and what had caused them.

The Cabinet discussed the overspend by Communications, which considering the quality of work from a team which was small compared with neighbouring authorities, was money well spent. It was noted that some of the overspend was due to the response to the national emergency at Huntingdon Train station. The Cabinet also noted the small revenue saving as a result of the underspend on the rent for the St Neots Market as the Council now owned the charter. This allowed the Council to ensure the market square was thriving with regular markets and met the needs and ambitions of the local community.

In response to questions from the Cabinet, the Executive Councillor for Finance and Resources advised that in terms of the Commercial Investment Strategy (CIS), the entire market was still readjusting after the change the Covid-19 pandemic brought which had been significant. A new CIS had been produced which was an improvement on the previous one, but the ability to execute it may be limited by LGR. Whereupon, it was

RESOLVED

that

(1)  the Cabinet considered and commented on the revenue financial performance for the financial year 2025/26 quarter 3, as detailed in Appendix 1 and summarised in paragraph 3.2 in the submitted report; and

(2)  the Cabinet considered and commented on the capital financial performance for 2025/26 quarter 3, as detailed in Appendix 3 and summarised in paragraph 3.3 in the submitted report.