Decision - Targeted Budget Management (TBM) 2026/27 Month 2 (May)

This report presents the 2026-27 in-year financial performance to Month 2 (May) for noting by Cabinet and seeks approval for any capital variations, reprofiling, exception measures or new reserves.

1) Cabinet notes the forecast risk position for the General Fund, which indicates a potential forecast overspend risk of £19.882m 2) Cabinet notes the additional risks of £17.131m included in the table at Appendix 2 which are not included in the forecast figure above. 3) Cabinet notes the forecast overspend risk for the separate Housing Revenue Account (HRA), which is an overspend of £0.482m. 4) Cabinet notes the forecast overspend risk for the ring-fenced Dedicated Schools Grant, which is an overspend of £6.643m in year resulting in a cumulative deficit of £8.405m. 5) Cabinet approves a request to MHCLG for additional EFS – which is additional borrowing, repaid by further capital receipts - in 2026/27 of up to£30m, to be drawn down if required and discussed in 3.10 below. 6) Cabinet notes the current RAG rating of the transformation workstreams at Appendix 3. 7) Cabinet notes the Treasury Management update at Appendix 4 8) Cabinet notes the Corporate Debtor position at Appendix 5 9) Cabinet approves the addition of new projects to the capital programme totalling £272k as set out in Appendix 6. 10) Cabinet notes the forecast position on the Capital Programme at Appendix 7 which shows budget variations of £4,283k. 11) Cabinet approves the capital budget variations of £6.672m and reprofiling of £8.328m set out in Appendix 7 and discussed at 3.16.

Two new capital schemes are proposed for 2026/27. The schemes would refurbish Tarner and Moulsecoomb Family Hubs to accommodate Family Help pods and purchase an electric minibus and charging point for Tudor House.