Issue - meetings

Revenue and Capital Budget Outturn and Annual Write Off Report 2025/26

 

 

Meeting: 02/06/2026 - Cabinet (Item 9)

9 Capital and Revenue Outturn and Annual Debt Write Off Report 2025/26 pdf icon PDF 344 KB

Minutes:

Background:

 

The report detailed the final revenue and capital outturn position for the financial year ended 31 March 2026. These figures would form part of the Council’s Statement of Accounts, which would be presented to the Audit Committee following the completion of the External Audit.

The report also presented a summary of debts written off during the 2025/26 financial year in line with the constitutional requirement to submit a report to Cabinet on an annual basis setting out details of all debt written off.

Decision

number: 

Decision:

 

The Cabinet noted the 2025/26 revenue and capital outturn position as summarised in Section 5 of the report, and the Council’s reserves position as summarised in Section 14 of the report.

The Cabinet noted the declassification of £919,000 of earmarked reserves and transfer of these to general reserves, carried out under Director’s delegations.

82/2026

The Cabinet agreed to recommend that Council agree the addition of £3.743million to the revenue budget from general reserves to fund the final overspend, as set out in Section 14 of the report. This included the £2.825million agreed by the Council in February 2026 and preserves the Council’s general reserve balance at £10.012million, just above the minimum level set by the Section 151 Officer.

83/2026

The Cabinet agreed to recommend that Council agrees to the following removals from the Capital Programme for schemes that had underspent, as set out in Section 12 of the report:

·            £160,000 for Greenacre Academy; 

·            £133,000 for Hundred of Hoo 6th Form; 

·            £63,000 for Leigh Academy Canopy; 

·            £20,000 for Strood Academy; 

·            £226,000 for Victory Academy; 

·            £65,000 for Dane Court; 

·            £2,000 for Luton Primary (Nursery);

·            £3,000 for ICT Infrastructure;

·            £168,000 for Waste Fleet Replacement.

84/2026

The Cabinet agreed to recommend that Council agree to the following removals from the Capital Programme for schemes that could be funded by revenue Section 106 developer contributions:

·            £400 for Rainham Play; 

·            £400 for Jackson Fields & Victoria Gardens;

·            £10,000 Luton Millennium Green.

 

The Cabinet noted the debts written off against provisions, as set out in section 15 of the report.

Reasons:

Full Council is responsible for agreeing a balanced budget in advance of each financial year. The Cabinet is responsible for ensuring that income and expenditure remain within the approved budget.

The transfer of reserves from earmarked to general reserves will enable the Council’s general reserve balance to return to a position above the minimum level of £10million set by the Section 151 Officer, even after the overspend on the 2025/26 outturn has been funded.