URL: https://democracy.tmbc.gov.uk/ieDecisionDetails.aspx?ID=2034

Decision Maker: Cabinet

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose:

Content: Consideration was given to the report of the Head of Finance and Section 151 Officer informing Members of the 2025/26 Financial Outturn and the current financial position for 2026/27 to the end of May 2026.   Cabinet noted the outturn position, reserve movements, current budgetary variances and the position of the Medium Term Financial Strategy, together with the recommendation in respect of vehicle financing for the waste contract.   Due regard was given to the financial and value for money considerations, the legal requirement to monitor budgets and the assessment of risk.   In recognition of the importance of sound financial management and governance, Cllr Coffin proposed, Cllr Betts seconded and Cabinet   RESOLVED: That   (1)            the year end position for 2025/26 be noted and the reserve movements, as set out in paragraph 4.9, endorsed;   (2)            the budgetary control position for 2026/27 as at the end of May 2026, which was a net favourable variance of circa £291,000 compared to the proportion of the 2026/27 budget, as set out in paragraph 5.8, be noted;   (3)            the current business rate pool position as at the end of May 2026, as set out in paragraph 6.2, be noted;   (4)            the Medium Term Financial Strategy update position, as set out in Section 8, be noted; and   (5)            the decision not to proceed with vehicle financing for the Waste, Recycling and Cleansing contract, as recommended by the Head of Finance and Section 151 Officer, be endorsed.

Date of Decision: June 30, 2026