Agenda item

RESOLVED:

1. Cabinet noted the forecast outturn for revenue and capital monitoring position as at 30^th June 2025 for 2025/26

2. Cabinet reviewed and approved the new transfer of Capital Items from Tier 3 to Tier 2.

RECOMMENDED: Revisions as set out in Appendix F to this report to the ‘Capital Programme Process’ within the approved Capital Strategy for 2025/2026 are adopted.

REASON FOR DECISION: To keep Cabinet informed of performance against budget for Capital and Revenue 2025/2026 based on Quarter 1 data.

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Cabinet noted that the Corporate Performance Panel had considered this report and supported the recommendations.

The Assistant Director presented the report and highlighted the recommendation to make amendments to the process to move projects between tiers to enable agile decision making.

The Portfolio Holder commended officers for their work to improve the budget position and noted that further work was being carried out on capital spend levels.  He also highlighted the potential impact of Local Government Reorganisation, the Second Homes Premium and the Homelessness prevention grant, which strengthened the need to retain healthy reserves.

Officers confirmed that early engagement with Parishes would take place where there could be impacts on their precept levels and lobbying of Government in relation to the Internal Drainage Board levies was continuing.

RESOLVED:

1. Cabinet noted the forecast outturn for revenue and capital monitoring position as at 30^th June 2025 for 2025/26

2. Cabinet reviewed and approved the new transfer of Capital Items from Tier 3 to Tier 2.

RECOMMENDED: Revisions as set out in Appendix F to this report to the ‘Capital Programme Process’ within the approved Capital Strategy for 2025/2026 are adopted.

REASON FOR DECISION: To keep Cabinet informed of performance against budget for Capital and Revenue 2025/2026 based on Quarter 1 data.