Issue - meetings

Background:

The report presented the results of the first round of the Council’s revenue budget monitoring process for 2025/26. The forecast outturn for 2025/26 represented a pressure of £10.948million, and the Council’s general reserves currently stood at £10.012million and would not therefore be in a position to fund an overspend on the scale of that currently projected.

The report therefore recommended that it would be necessary for the Council’s senior managers and elected Members to implement urgent actions to bring expenditure back within the budget agreed by Full Council or as a minimum to within that which can be funded from general reserves.

Reasons:

Full Council is responsible for agreeing a balanced budget in advance of each financial year. Cabinet is responsible for ensuring that income and expenditure remain within the approved budget, including instructing corrective action to prevent any forecast overspend from materialising.