URL: https://governance.enfield.gov.uk/ieDecisionDetails.aspx?ID=405

Decision Maker: Cabinet

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose:

Content: DECISION: The Cabinet agreed to note:   i. The final General Fund revenue outturn position for 2024/25. ii. The Quarter 1 2025/26 General Fund net revenue forecast adverse variance of £6.6m after applying £7.6m from flexible capital receipts and net contribution to reserves of £9.4m. iii. Progress on savings set in the original 2025/26 budget and those deferred from 2024/25 as laid out in Appendices B and C, with a projected shortfall in delivery in-year of £2.7m. iv. The impact of the forecast on the Council’s reserves balances as set out in paragraphs 29 to 30 and the consequences this has for longer-term financial resilience. v. The forecast in-year overspend on the Dedicated Schools Grant of £3.0m, leading to a projected cumulative deficit of £20.4m. vi. The latest forecasts for capital receipts and the projects funded by the flexible use of capital receipts in 2025/26 as set out in Appendix E and the additional projects approved under delegated authority by the Executive Director of Resources in consultation with the Cabinet Member for Finance and Procurement. vii. The 2025/26 Quarter 1 General Fund capital forecast spend of £448.5m against an approved revised budget of £521.6m. viii. The 2025/26 Quarter 1 HRA revenue position of an additional £0.2m spend against the approved budget. The additional spend will be funded from the HRA reserves. ix. The 2025/26 Quarter 1 HRA capital forecast spend of £140.4m against the budget of £145.6m.

Date of Decision: September 10, 2025