Agenda item

2025/26 Outturn Report

Executive Summary

This report presents the provisional outturn position for the 2025/26 financial year which shows a General Fund underspend of £0.354m.  It also provides an update in relation to the Council’s capital programme and use of reserves.

 

The position will be used to inform the production of the Statutory accounts which will then be subject to audit by the Council’s external auditors.

 

The report makes recommendations for contributions to reserves.

 

Options considered

 

None - This is a factual report of the financial year end position for 2025/26.

 

Consultation(s)

None – This is a factual report of the financial year end position for 2025/26.

 

Recommendations

 

Members are asked to consider the report and recommend the following to full Council:

 

a)  The provisional outturn position for the General Fund revenue account for 2025/26 (as shown in Appendix A);

b)  The transfers to and from reserves as detailed within the report (and Appendix C);

c) The surplus of £0.354m proposed to be transferred to the General Reserve

d) The balance on the General Reserve of £4.266m. (Please note does not currently include the above surplus of £0.354m)

e) The financing of the 2025/26 capital programme as detailed within the report and at Appendix D.

f) The updated capital programme for 2026/27 to 2031/32 and scheme financing as outlined within the report and detailed at Appendix E;

g) Approval of additional funding to cover capital project overspends of £0.012m as detailed in paragraph 5.7.

h) Approval of capital project budget roll-forwards from 2025/26 into 2026/27 paragraph 5.10.

i) To note the addition of £26,834 towards Property Services Electric Vehicles, to be funded by the Asset Management Reserve over a four-year lease period. This budget has been approved by the Deputy s151 Officer under constitutional powers.

j) To approve the addition of £188,539 to renovate Fakenham Play Area to be funded from capital s106 Contributions in 2026/27.

k) To approve the addition of £0.100m to the Community Housing Fund (Grants to Housing Providers) project, to be funded by Capital Receipts following a repaid grant in 2025/26.

l) To approve the updated Cromer Coast Protection Scheme budget to reflect that the approved RFCC (Environment Agency) grant has been awarded to the Mundesley Coastal Defences project only. This leaves the 2025/26 budget as £1,037,656. This is a movement of budget from the Cromer scheme to the Mundesley Scheme to meet grant conditions.

 

m) To approve the updated Mundesley Coastal Management Scheme budget to reflect that the approved RFCC (Environment Agency) grant has been award to the Mundesley Coastal Management Scheme project only. This leaves the 2025/26 budget as £998,217. This is a movement of budget from the Cromer scheme to the Mundesley Scheme to meet grant conditions.

 

Reasons for recommendations

 

To provide a draft outturn position for the General Fund, Capital Accounts and Reserves which will form the basis to produce statutory accounts for 2025/26. Also to provide a draft opening position for the financial year 2026/27.

Background papers

 

Budget report, Budget Monitoring reports, NNDR3 return

 


 

Wards affected

All

Cabinet member(s)

Cllr Lucy Shires

Contact Officer

Daniel King

Assistant Director Finance & Assets

Daniel.King@north-norfolk.gov.uk

 

Decision:

Decision

 

RESOLVED

 

Cabinet recommend the following to Full Council:

 

 

 

a)  The provisional outturn position for the General Fund revenue account for 2025/26 (as shown in Appendix A);

 

b)  The transfers to and from reserves as detailed within the report (and Appendix C);

 

c) The surplus of £0.354m proposed to be transferred to the General Reserve

 

d) The balance on the General Reserve of £4.266m. (Please note does not currently include the above surplus of £0.354m)

 

e) The financing of the 2025/26 capital programme as detailed within the report and at Appendix D.

 

f) The updated capital programme for 2026/27 to 2031/32 and scheme financing as outlined within the report and detailed at Appendix E;

 

g) Approval of additional funding to cover capital project overspends of £0.012m as detailed in paragraph 5.7.

 

h) Approval of capital project budget roll-forwards from 2025/26 into 2026/27 paragraph 5.10.

 

i) To note the addition of £26,834 towards Property Services Electric Vehicles, to be funded by the Asset Management Reserve over a four-year lease period. This budget has been approved by the Deputy s151 Officer under constitutional powers.

 

j) To approve the addition of £188,539 to renovate Fakenham Play Area to be funded from capital s106 Contributions in 2026/27.

 

k) To approve the addition of £0.100m to the Community Housing Fund (Grants to Housing Providers) project, to be funded by Capital Receipts following a repaid grant in 2025/26.

 

l) To approve the updated Cromer Coast Protection Scheme budget to reflect that the approved RFCC (Environment Agency) grant has been awarded to the Mundesley Coastal Defences project only. This leaves the 2025/26 budget as £1,037,656. This is a movement of budget from the Cromer scheme to the Mundesley Scheme to meet grant conditions.

 

m) To approve the updated Mundesley Coastal Management Scheme budget to reflect that the approved RFCC (Environment Agency) grant has been award to the Mundesley Coastal Management Scheme project only. This leaves the 2025/26 budget as £998,217. This is a movement of budget from the Cromer scheme to the Mundesley Scheme to meet grant conditions.

 

 

 

Reasons for the recommendation

 

To provide a draft outturn position for the General Fund, Capital Accounts and Reserves which will form the basis to produce statutory accounts for 2025/26. Also to provide a draft opening position for the financial year 2026/27.

Supporting documents: