URL: https://democracy.n-kesteven.gov.uk/ieDecisionDetails.aspx?ID=10823

Decision Maker: Executive Board

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose: To update the Executive Board on the financial performance for 2025/26 - third quarter up to 31 December 2025.

Content: Resolved:   1.  That the financial position on the Council’s General Fund, Housing Revenue Account, Reserves and Capital Programmes for 2025/26 as at 31 December 2025 be agreed.   2.  That the projected 2025/26 surplus position of £1,041,500 in the General Fund be noted.   3.  That the projected 2025/26 net operating surplus of £9,600 in the Housing Revenue Account be noted.   4.  That the Capital Programme 2025/26 position as at 31 December 2025 be noted.   5.  That the Reserves position as at 31 December 2025 be noted.   6.  That the key Treasury Management data for 2025/26 as at 31 December 2025 be noted.   7.  That a drawdown of £50,900 be approved from the Major Repairs Reserve for identified additional works in the accelerated door replacement programme.   8.  That a drawdown of £206,800 be approved from the Major Repairs Reserve for additional capital expenditure identified within the heating replacement programme.   9.  That a reprofile of capital budget totalling £400,400 be approved from 2027/28 to 2026/27 to align with the delivery timescales of works required to comply with the Minimum Energy Efficiency Standards. This is for the Energy Efficiency Improvements on NKDC Workshop Units scheme.   10.That a drawdown of £39,800 be approved from the Refuse Vehicle Replacement Reserve to cover the remaining contractual costs of the purchase of the two 16-tonne freighters in 2025/26.   11.That any General Fund surplus (after transfers to the GF earmarked reserve as determined by the S151 Officer) as at 31 March 2026 be appropriated to the Financial Resilience Reserve, whilst maintaining the approved minimum working balance. Any surplus above £400,000 to be appropriated to the Our Council Reserve and Income Volatility Reserve (IVR) with delegated authority to be given to the S151 Officer to determine the values to be appropriated.   12.That any General Fund deficit (after transfers to the GF earmarked reserve as determined by the S151 Officer) as at 31 March 2026 be drawn down from the Income Volatility Reserve, whilst maintaining the approved minimum working balance.   13.That delegated authority be given to the Director of Resources (S151 Officer) to determine how much of the HRA operating surplus be transferred to the HRA working balance, HRA Earmarked Expenditure Reserve and Major Repairs Reserve as at 31 March 2026 when all income and expenditure items have been accounted for.   14.That delegated authority be given to the Director of Resources (S151 Officer) to allow/approve the transfer of individual grants to reserves as part of the year end process if they haven't been utilised and the conditions allow the carry forward of balances.   15.That delegated authority be given to the Director of Resources (S151 Officer) to approve an additional grant contribution of £500,000 to the Heart of Sleaford project, which would be allocated from proceeds of the sale of land at Money’s Yard of the same value.  

Date of Decision: March 24, 2026