Agenda item

The report of the Director – Finance and Corporate Services is attached.

It was RESOLVED that:

a)              the 2025/26 revenue position and efficiencies identified in Table 1 and Appendix A and B be noted;

b)              changes to the earmarked reserves as set out at Appendix G along with the carry forwards and appropriations to reserves in Appendix A be approved;

c)              the capital carry forwards outlined in Appendix D and F and summarised in Appendix H be approved; and

d)              the update on the Special Expenses outturn at paragraph 4.9 and in Appendix C be noted.

The Cabinet Portfolio Holder for Finance, Councillor Virdi presented the report of the Director – Finance and Corporate Services, outlining the year end position in terms of financial and performance monitoring for 2025/26, linked to the closure of the accounts process and previous financial update reports.

Councillor Virdi stated that this was a very positive report, demonstrating the overall strength of the Council’s financial position, its prudence and forward-looking financial management, during very challenging and uncertain times. He referred to the overall revenue efficiency position of £2.682m, earmarked for additional cost pressures as outlined in Table 1 and Appendix A to the report, which sat alongside the Capital Programme efficiency position of £4.011m, as outlined in Table 2 and Appendices D and F. Councillor Virdi reiterated that the capital position was largely due to project reprofiling, with the majority carried forward into this year. Treasury Management Performance was strong, with an additional £617k from treasury activities. The continued delivery of the Transformation and Efficiency Programme was noted, as detailed in paragraph 4.17, with higher than expected efficiencies of £177k, helping to increase resilience, whilst continuing to maintain excellent service quality. Councillor Virdi confirmed that the Council had taken a proactive approach regarding reserves, to ensure future resilience, particularly in preparation for Local Government Reorganisation (LGR) and Simpler Recycling, with £1.199m set aside.

Councillor Virdi concluded by reflecting on the Council’s very positive financial stewardship, medium-term planning and organisational discipline, which allowed it to continue to deliver excellent services whilst remaining financially resilient, with no external borrowing. The Council would not be complacent, it would continue to make hard decisions and savings, providing a platform to deal with challenging times ahead.  

In seconding the recommendation, Councillor J Wheeler referred to the significant money and officer time already spent on preparing for LGR, which could have been used to deliver more services. He referred to the may successes detailed in the report, and reiterated Councillor Virdi’s comment about the Capital Programme and the reprofiling of the underspend to next year, due to delays, which were outside the Council’s control. The Council would continue to invest, and residents should be reassured by the fantastic facilities already available, which everyone should be proud of.

Councillor Upton did not believe that Rushcliffe had cut any services, it continued to improve its already excellent services, and he referred to the recent award won by Streetwise and the Green Flag award, won for the first time for Bridgford Park, together with examples of other excellent Council services. He stated that reserves were also required to deal with any unexpected issues.

The Leader stated that the Council generally had very high customer satisfaction levels, which confirmed that it provided excellent services to both residents and businesses, as it was keen on supporting economic growth. Having efficient finances and resources available for investment ensured that the Council maintained its excellent services.   

It was RESOLVED that:

a)              the 2025/26 revenue position and efficiencies identified in Table 1 and Appendix A and B be noted;

b)              changes to the earmarked reserves as set out at Appendix G along with the carry forwards and appropriations to reserves in Appendix A be approved;

c)              the capital carry forwards outlined in Appendix D and F and summarised in Appendix H be approved; and

d)              the update on the Special Expenses outturn at paragraph 4.9 and in Appendix C be noted.