Issue - meetings

To present the Council’s forecast 2025/26 financial position as at end of December 2025 with specific regard to the General Fund Revenue Budget and the General Fund Capital Programme.

Decision

That Cabinet noted the forecast 2025/26 outturn position for the General Fund Revenue and Capital budgets as at the end of December 2025.

Reasons for the decision

Members should be kept updated on the financial position of the Authority, because effective budget management was critical to ensuring financial resources are targeted towards the Council’s priorities. Monitoring enables early identification of variations against the plan and timely corrective action.

Other options considered and rejected

Cabinet should have oversight of Council budgets, therefore, the option of not producing a monitoring report was discounted.

Purpose of report

To present the Council’s forecast 2025/26 financial position as at end of December 2025 with specific regard to the General Fund Revenue Budget and the General Fund Capital Programme.

Decision

That Cabinet noted the forecast 2025/26 outturn position for the General Fund Revenue and Capital budgets as at the end of December 2025.

Other options considered

Cabinet should have oversight of Council budgets, therefore, the option of not producing a monitoring report was discounted.

Reasons for the decision

Members should be kept updated on the financial position of the Authority, because effective budget management was critical to ensuring financial resources are targeted towards the Council’s priorities. Monitoring enables early identification of variations against the plan and timely corrective action.

The General Fund Revenue Forecast Outturn Position Quarter 3 showed the General Fund in a strong financial position, with an underspend of £361,000. A number of variances could be seen in Table 2 of the report.

Savings were being made on fuel and utilities, and through increases in income for green waste subscriptions, planning fees, and Stamford Cattlemarket car park, amongst others. It was noted that savings on fuel and utilities not guaranteed into the future. Cost challenges in the report could be accommodated in the overall underspend.

The General Fund Capital Forecast Outturn Position showed a £1.261 million underspend. Budget carry forward would be considered by the Council at a later date.

Collection performance for Council Tax was at a good rate.

The Leader of the Council presented the report.

As of December 2025, the Quarter 3 position for the General Fund outlined a strong financial position. The current revenue forecast was an underspend of £361,000, based on a number of variances outlined in table 2 of the report.

Some variances included savings on fuel and utilities against budget and additional income from the Stamford Cattle Market car park, green waste subscriptions and planning fees.

The predicted surplus for LeisureSK Ltd was noted and this continued to perform strongly.

Cost challenges were set out in the report and were accommodated with the overall forecast underspend position.

In relation to Capital spends, the majority of schemes were on track to be completed by the end of the current financial year, on budget. The current forecast out-term was £1.2m underspend and a budget carry-forward would be considered by Full Council.

Collection performance remained ‘good’ for Council Tax and Business Rates. The Council were just below target for collection of Council Tax and Business Rates, however, the Council had the highest collection rate for Council Tax compared to other Councils in the County,

Members praised the General Fund position.

One Member queried how the Councils finances compared to North Kesteven District Council and South Holland District Council, in light of Local Government Reorganisation in the future.

The Leader of the Council highlighted that all Councils had to produce these types of reports for review.

The Committee reviewed and noted the forecast 2025/26 outturn position for the General Fund Revenue and Capital budgets as at the end of December 2025.