Issue - meetings

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

The Cabinet has

(1)  considered and commented on the revenue financial performance for the financial year 2025/26, as detailed in Appendix 1 and Appendix 2;

(2)  considered and commented on the capital financial performance for 2025/26, as detailed in Appendix 3; and

(3)  considered and commented on the requested rephasing of capital budgets from 2025/26 to 2026/27 as detailed in Appendix 3.

A report by the Head of Finance was submitted (a copy of which is appended to the Minute Book) presenting details of the Council’s financial performance for 2025/2026.

The Executive Councillor for Finance and Resources, Councillor Harvey advised that the report was a retrospective report, setting out the provisional financial outturn for 2025/26 across both revenue and capital. As it was a retrospective report, the Executive Councillor for Economy, Regeneration and Housing, Councillor B Mickelburgh, who had been the previous Portfolio Holder for Finance and Resources, introduced the report. Particular reference was made to the underspend which had resulted primarily from higher-than-expected income. The bottom line was healthy but included additional income that could not be relied upon on to be repeated in future. Reference was also made to the cost of Local Government Reorganisation, which was expected to be significant.

Whereupon, it was

RESOLVED

that the Cabinet

(1)  considered and commented on the revenue financial performance for the financial year 2025/26, as detailed in Appendix 1 and Appendix 2;

(2)  considered and commented on the capital financial performance for 2025/26, as detailed in Appendix 3; and

(3)  considered and commented on the requested rephasing of capital budgets from 2025/26 to 2026/27 as detailed in Appendix 3.