URL: https://moderngov.fareham.gov.uk/ieDecisionDetails.aspx?ID=2711

Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Purpose: The report provides comparative information on the Council’s revenue expenditure for the period for the first half of the financial year.  Members were invited to consider the financial performance and any corrective action that may be deemed appropriate.   The report provides summary information on the overall spending position against the revenue budgets in the current year, as set out in the following tables:   General Fund Budget 2025/26 Budget to 30 Sept 25 Actual to 30 Sept 25 Variation   £000s £000s £000s £000s Service Budgets 16,196 433 4 -429 Non-Service budgets -1,874 -17 -17 0 Net Budgets 14,322 416 -13 -429   Revenue spending plans are currently showing a net underspend for the first half of the financial year.  Any underspending achieved by the end of the year will contribute to the balances held in the Council’s reserves.  For 2025/26 there was a balanced budget set without the need to draw down from reserves.   There are a number of areas where spend is in excess of the budget and some areas are likely to continue to be overspent through to the end of the financial year unless changes are made during the revised budget setting process.  However, current forecasts against the base budget are predicting that the half-way position overall will continue to the end of the year.   It therefore remains appropriate to continue to monitor financial performance closely over the remainder of the financial year to ensure that any slippage does not change this position or adversely affect the services provided to residents and customers.   Commentary on the most significant variations is set out in the briefing papers accompanying the report.

Content: The report provides comparative information on the Council’s revenue expenditure for the period for the first half of the financial year.  Members were invited to consider the financial performance and any corrective action that may be deemed appropriate.   The report provides summary information on the overall spending position against the revenue budgets in the current year, as set out in the following tables:   General Fund Budget 2025/26 Budget to 30 Sept 25 Actual to 30 Sept 25 Variation   £000s £000s £000s £000s Service Budgets 16,196 433 4 -429 Non-Service budgets -1,874 -17 -17 0 Net Budgets 14,322 416 -13 -429   Revenue spending plans are currently showing a net underspend for the first half of the financial year.  Any underspending achieved by the end of the year will contribute to the balances held in the Council’s reserves.  For 2025/26 there was a balanced budget set without the need to draw down from reserves.   There are a number of areas where spend is in excess of the budget and some areas are likely to continue to be overspent through to the end of the financial year unless changes are made during the revised budget setting process.  However, current forecasts against the base budget are predicting that the half-way position overall will continue to the end of the year.   It therefore remains appropriate to continue to monitor financial performance closely over the remainder of the financial year to ensure that any slippage does not change this position or adversely affect the services provided to residents and customers.   Commentary on the most significant variations is set out in the briefing papers accompanying the report. RESOLVED that the Executive notes the General Fund Revenue Monitoring Report.

Date of Decision: November 3, 2025