Decision details
2026/27 Quarterly Finance Review Q1
Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decisions:
Councillor Alaric Smith, Executive Member for Finance, presented the item, the purpose of which was to detail the Council’s financial performance for Quarter One 2026-2027.
In his presentation Councillor Smith made the following points:
- The Council had made a positive start to the 2026/27 financial year, had reported a favourable revenue position at Quarter 1 and had continued progress against key capital investment projects.
- At 30 June 2026, the Council had reported a favourable revenue variance of £271,344 against the profiled budget. This positive position was largely attributable to stronger than anticipated income from Development Management and Treasury Management activities.
- Key service-level variances included: Development Management, with planning application and pre-application income having generated a net surplus of approximately £228,000. Green Waste income was £169,000 below target, although the service had already achieved around 90% of its annual income target and was expected to continue making a positive net contribution of approximately £300,000 during the year. Recycling Credits income was £49,000 above budget, helping offset increased contract costs of £27,000. Bulky Waste income was performing ahead of target by £12,000. The Investment Property Portfolio was reporting an overspend of £23,636, primarily this was due to lower than budgeted rental income while vacant units continued to be marketed.
- No significant overspends had been identified across service budgets at this stage.
Capital expenditure at Q1 had totalled £1.064 million against an approved annual programme of £13.46 million, which included £4.4 million of slippage from 2025/26. Progress was being made across a number of major projects and included:
- Roof replacement works at Carterton Industrial Estate and Station Lane.
- Procurement of four electric food waste collection vehicles, expected in Q3.
- Refurbishment of eight temporary accommodation properties.
- Delivery of the Leisure Centre Improvement Programme, including works to the Windrush children's pool, roof and changing facilities.
Councillor Smith summarised that the Council's financial position at Quarter 1 was encouraging, with income performance in several key areas more than offsetting emerging pressures. Whilst the reported surplus and absence of significant overspends had provided confidence, uncertainties remained around income trends, inflationary pressures and the implications of Local Government Reorganisation. Ongoing monitoring remained essential throughout 2026/27.
There were no alternative options on this report.
Councillor Smith proposed accepting the recommendations in the report.
Councillor Andy Graham seconded the proposals.
The proposal was put to the vote and agreed unanimously.
The Executive resolved to:
1. Note the Council’s Financial Performance for Quarter One 2026-2027
Report author: Georgina Dyer
Publication date: 10/09/2026
Date of decision: 09/09/2026
Decided at meeting: 09/09/2026 - Executive
Accompanying Documents:
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