Issue - meetings

Report of Assistant Director of Finance (Section 151 Officer).

Purpose of report

To report to the committee the council’s financial position at the end of the financial year 2025-2026.

Recommendations

1.         To note the contents of the report

Resolved

(1)        That the report be noted.

The Assistant Director of Finance (S151 Officer) submitted a report which updated the committee of the council’s financial position at the end of the financial year 2025/2026 as at November 2025.

In introducing the report, the Portfolio Holder for Finance, Regeneration and Property advised the Committee that the year-end forecast position for 2025/26 was projected to be an overspend of £0.609m. This was an increase of £0.209m compared to the year-end forecast at Period 7.

The Portfolio Holder for Finance, Regeneration and Property explained that the largest variances were within Neighbourhood Services which included Environmental Services, Wellbeing and Housing.

In response to a question from the Committee in relation to the increase of the forecast overspend and if the budget was optimistic when set, the Assistant Director of Finance explained that ideally there would not be an overspend however, in reality, the situation arises and therefore mitigation measures were being explored.

Resolved

(1)      That the report be noted.