URL: https://councildecisions.bury.gov.uk/ieDecisionDetails.aspx?ID=4247

Decision Maker: Cabinet

Outcome:

Is Key Decision?: Yes

Is Callable In?: No

Purpose:

Content: The Deputy Leader and Cabinet Member, Finance and Transformation presented a report providing the 2025/26 forecast revenue outturn (including an overspend of £4.148m), forecast savings position, forecast capital outturn position, forecast Collection Fund position and forecast for the Housing Revenue Account (HRA) position as at 30 June 2025, and the Prudential Indicators as at quarter 1. In response to Member questions, it was noted that the Council had demonstrated a strong track record over the last 12-18 months of achieving the target savings and internal frameworks were in place to provide assurance of savings moving forwards.   With regards to the non-service specific underspend, this related to treasury management with a higher than budgeted income and lower than budgeted capital financing costs resulting from the slippage in the capital programme. In response to a question regarding borrowing, it was noted that the treasury function looked at where best value could be achieved, evaluating opportunities to restructure financing where interest rates were changing and aligning with the medium term financial strategy as set in February. With regards to which Approved in Principle schemes were yet to be incorporated into the In-Progress Programme, this information was not to hand and would be circulated after the meeting. Members also discussed the underachievement of savings owing to delayed implementation of restructures, and noted that these transformations were now being monitoring through internal assurance boards and HR processes were being reviewed. Finally, in relation to highways budgets, it was noted that this was broader than just resurfacing, and these budgets were usually fully spent by the end of the year.   Decision:   Cabinet: 1.    Noted the 2025/26 forecast revenue outturn position as at 30 June 25 of a £4.148m overspend (1.74%) against a net budget of £238.257m; 2.    Noted the 2025/26 forecast savings position as at 30 June 2025 of a forecast underachievement of £0.441m (-3.9%) against an agreed target of £11.344m; 3.    Approved the in-year updates to the capital programme, revising the capital delivery programme for 2025/26 to £132.095m which will form the basis for future in-year monitoring and reporting of performance; 4.    Noted the 2025/26 forecast Collection Fund Position as at 30 June 2025 of a surplus of £1.627m of which £1.563m relates to Bury’s share; and 5.    Noted the Prudential Indicators as at quarter 1.   Reasons for the decision: To update members on the Council’s budgetary position and actions taken or being taken to ensure budgetary targets are achieved. This report is in accordance with the Council’s financial procedure regulations.   Alternative options considered and rejected: Not applicable.

Date of Decision: September 10, 2025