Issue - meetings

The Committee gave consideration to the Budget and Treasury Monitoring Report for Quarter One 2026/27, presented by the Finance Business Support Team Leader.

Members were advised that the forecast revenue outturn position indicated a net pressure of £0.073m against budget as at 31 May 2026. Reference was made to pressures arising from fuel costs, whilst it was noted that grant income relating to Internal Drainage Board levy support was higher than originally anticipated. Members were also advised of proposed budget amendments required to support the delivery of externally funded projects.

In relation to capital expenditure, Members were advised of the current projected capital outturn position and the proposed amendment to the CCTV Expansion Scheme, funded from the Community at Risk Reserve.

The Committee heard that treasury management activity remained within approved limits, with no breaches of treasury or prudential indicators reported during the period.

Attention was drawn to appendix three, which detailed the forecast balance on reserves including all approved movements in reserves as at 31 May 2026. This also included the £8m previously allocated for reprioritisation. It was noted that a separate review of reserves report would be presented to the committee in November 2026 as part of the budget setting process.

Members were advised that the council had been successful in securing Growth Development Fund support for three local projects, and were asked to approve the creation of the revenue income and expenditure budgets to support the delivery of these projects, and to approve the use of £10,000 from reserves as match funding for one project.

During the debate, a Member of the Committee sought clarification regarding the volatility of fuel prices and whether alternative procurement arrangements could mitigate future fluctuations. In response, officers outlined the challenges associated with fuel procurement and the impact of market conditions on operating costs, particularly following the introduction of the food waste collection service.

Members acknowledged the influence of wider economic and international factors on fuel prices and welcomed the overall financial position reported. Praise was also expressed for the clarity and presentation of the report and the work undertaken by officers in managing the Council's finances.

With no further comments, and having been proposed and seconded, the Chairman took the vote. It was

            RESOLVED that

REVENUE

a)    the forecast out-turn position of a £0.073m net contribution from reserves as of 31st May 2026 (see Section 1) relating to revenue activity be accepted; and

b)    the creation of revenue income and expenditure budgets to support delivery of the three projects detailed at 1.3.2 be approved, and the match funding of £0.01m from the Feasibility Reserve be approved.

CAPITAL

c)    the current projected Capital Outturn position of £5.713m (Section 2) be accepted; and

d)    the amendments to the Capital Schemes as detailed in 2.2 be approved with any amendments to be actioned at Qtr. 2.

TREASURY

e)    the report, the treasury activity and the prudential indicators (Section 3) be accepted.