RESOLVED that Cabinet:-
(a) Noted the budget monitoring position for quarter three 2025/26;
(b) Encourage Senior Officers, budget holders, and Portfolio Holders to take all reasonable steps to reduce the forecast overspend in the final quarter of the financial year; and
(c) Approve the capital virement as set out in Appendix C1 at paragraph 2.
Voting: Unanimous
Portfolio Holder: Finance
Reason
To comply with accounting codes of practice and best practice which requires councils to regularly monitor the annual budget position and take any action to support the sustainability of the council’s financial position.
To comply with the council’s financial regulation concerning approval for budget virements.