Issue - meetings

RESOLVED:

1) Note the forecast outturn for Revenue and Capital monitoring position as at 30th June 2026 for 2026/2027.

2) Agree to update the Capital Programme as set out in section 3 of the report.

REASON FOR DECISION:

To keep Cabinet informed of performance against budget for Capital and Revenue in the current financial year based on the data in the reported period.

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The Portfolio Holder for Finance, Councillor Morley, presented the report and advised that performance at Quarter 1 remained on track.

The Assistant Director for Finance presented a summary of the report, highlighting that the Council remained in a stable financial position at Quarter 1 and that forecasts were in line with budget expectations. Members were directed to Appendix A, which provided details of budget movements during the reporting period.

Reference was made to paragraph 2.2.3 of the report, which outlined a number of key issues that could have an impact on the financial position in Quarter 2. These included the effects of the prolonged period of hot weather, which had affected grounds maintenance costs and had also contributed to higher than anticipated car parking income.

The Assistant Director provided an update on the ongoing Corporate Landlord Services programme and explained that associated budgets would need to be reprofiled. It was noted that while the programme could result in additional expenditure, it also had the potential to generate additional income in the future.

Cabinet was advised that the Internal Drainage Board (IDB) Compensation Grant received was significantly higher than had been originally forecast, resulting in a favourable impact on the Council's budget position.

The Assistant Director also provided an update on capital programme expenditure and outlined the movements from Tier 2 to Tier 3 schemes, as detailed within the report.

In response to a question from Councillor Rust, it was confirmed that IDB levies were funded through Council Tax receipts and that approximately £3.8 million was paid to the Internal Drainage Boards, representing around 43% of the Council Tax collected by the Borough Council.

In response to a question from Councillor de Whalley, the Assistant Director explained that the Hunstanton Promenade was subject to regular monitoring and that consideration was being given to the extent of any long-term or emergency works that may be required.

The Leader reminded Cabinet that the report reflected the Quarter 1 position and emphasised that the financial situation would continue to be monitored closely throughout the year. He highlighted the importance of robust budget management by Service Managers to ensure the Council remained well placed to respond to any exceptional circumstances, while continuing to deliver high-quality services for residents.

RESOLVED:

1) Note the forecast outturn for Revenue and Capital monitoring position as at 30th June 2026 for 2026/2027.

2) Agree to update the Capital Programme as set out in section 3 of the report.

REASON FOR DECISION:

To keep Cabinet informed of performance against budget for Capital and Revenue in the current financial year based on the data in the reported period.