RESOLVED –
1) That the revenue outturn position at Quarter 3 of a forecast overspend of £4.1m (Q2: £5.1m) be noted, and to note that there would be a requirement to balance the budget using reserves should the overspend remain;
2) That the Quarter 3 position on the Dedicated Schools Grant (DSG) be noted, being an in year deficit of £17.4m (2024/25 £20m) to take the cumulative deficit to £81.3m;
3) That the Quarter 3 HRA position be noted, being a projected underspend of £921k. Any underspends would be taken to HRA reserves at year end. The current forecast year-end reserves position was now £27.4m;
4) That the Quarter 3 forecast capital monitoring position for 2025/26 be noted, and to note a proposed net reduction in the 2025/26 position of £14.7m due to: -
(i) £14.2m re-profiling of spend into future years (£11.6m General Fund and £2.6m HRA)
(ii) £0.5m decrease in the capital plan due to the removal of UKSPF grant.
5) That the Quarter 3 treasury management prudential indicators be noted.