Decision – Budget Monitoring – Revenue and Capital Outturn 2025/26 Quarter 1

1.    that the forecasted
revenue outturn position and amendments made to the published
2025/26 Capital Investment Plan be noted.

2.    that, subject to Council
approving the additional capital as set out in paragraph 2.6 of the
submitted report, the Director of Finance be given delegated
authority to agree appropriate terms and grant a capital loan up to
£2.5m to SWISCo for fleet modernisation; and

Recommends to
Council:

3.    that Council approves
the revisions to the Capital Investment Plan, as per Appendix
1;

4.    that Council approve the
additional borrowing of up to £2.5mto facilitate a capital
loan to SWISCo to enable them to modernise their fleet; and

5.    that Council approves an update to
the Capital Programme
of up to £3m allocated from Levelling Up Round 3 (LUF3) grant
to acquire the required land for the delivery of the Torbay Tech
Park.

To ensure the Council
operates in a prudent manner and works to maintain a balanced
budget.

The decision in
respect of 1. and 2. will come into force and may be implemented on
2 September 2025 unless the call-in procedure is triggered (as set
out in the Standing Orders in relation to Overview and Scrutiny).
The decisions in respect of 3. to 5. will be considered at the
Council meeting on 11 September 2025.

The Budget Monitoring
2025/26 report set out a high-level budget summary of the
Council’s revenue and capital position based on the levels of
spend and financial information at the end of quarter 1 (Q1), up to
30 June 2025.

The Overview and
Scrutiny Board considered the Budget Monitoring 2025/26 report on
13 August 2025 and did not make any recommendations.  At
the Cabinet meeting, Councillor Tyerman proposed and Councillor
Jackie Thomas seconded a motion that was agreed unanimously, as set
out above.