To provide an overview of the financial outturn for 2025/26 and to seek approval of the allocation of the overall 2025/26 General Fund revenue variance along with a number of proposed budget adjustments across 2026/27 and 2027/28.

RESOLVED that -

(a)     the high level Financial Outturn Position, as set out in this report (A.1) and the favourable General Fund Revenue variance of £3.389m for the year, which is currently held within the Corporate Investment Fund (Revenue) via the Revenue Commitments Reserve, be noted;

(b)     the use of the General Fund Outturn for the year of £3.389m along with the other budget adjustments, as set out in Appendix A to report A.1, be approved;

(c)     in respect of the additional £0.250m set aside within the existing Contingency budget, the Chief Executive, in consultation with the Portfolio Holder for Corporate Finance and Governance, be authorised to utilise this funding during the year;

(d)     in respect of the additional £1.000m set aside to support general capacity within the Council, the Chief Executive, in consultation with the Portfolio Holder for Corporate Finance and Governance, be authorised to utilise this funding during the year;

(e)     in respect of the additional £0.050m set aside in both 2026/27 and 2027/28 to support the extension to the existing local sports grant schemes, the Corporate Director (Place and Wellbeing), in consultation with the Portfolio Holder for Leisure and Public Realm, be authorised to implement the necessary associated arrangements; and

(f)       the Council’s Section 151 Officer, in consultation with the Corporate Finance and Governance Portfolio Holder, be authorised to adjust the outturn position for 2025/26 along with any corresponding adjustment to earmarked reserves / Corporate Investment Funds as a direct result of any recommendations made by the Council’s External Auditor during the course of their audit activities relating to the Council’s 2025/26 accounts.