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2025-26 P9 Finance, Risk & Performance Report to end of December 2025

Committee report · Overview and Scrutiny Committee · Mon 9 Mar 2026 · Hastings Borough Council · agenda item 6

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What it recommends

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What the meeting decided

The minutes record: Noted. “RESOLVED: That the contents of the report, and the actions within the conclusion and management action section be noted. Reasons: To assist the Council in understanding the financial position and particularly areas of over and under spend. Early indications of emerging overspends can allow management action to be targeted to those areas. This monitoring assists with understanding the impact of the 2025/26 outturn on the reserves position.” minutes ↗

In plain English

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Recommended · This went to the meeting on Mon 9 Mar 2026. What was decided is in that meeting's minutes.

This report to the Overview and Scrutiny Committee summarises Hastings Borough Council's financial position for 2025/26 to the end of Period 9 (December 2025). p1p3

Officers recommend that the committee note the contents of the report and the actions in the conclusion and management action section. p4

The report forecasts a £222,652 favourable variance to budget for the year to 31 March 2026, following use of budgeted and unbudgeted reserves, with Housing showing a £757,344 adverse variance mainly due to higher than forecast numbers of households in privately procured temporary accommodation. p12p18p49

It also forecasts a General Reserve balance of £7.2m at year-end, above the recommended minimum balance of £4m. p9

Show the 7 passages this is based on
  • p1Report Template v29.0 Report to: Overview and Scrutiny Date of Meeting: 9 March 2026 Report Title: Financial Monitoring Report for 2025/26 – to end of December 2025 (Period 9)
  • p3Purpose of Report To provide a summary of the financial outturn position for services at the end of Period
  • p49 (December 2025). Recommendation(s) To note the contents of the report, and the actions within the conclusion and management action section.
  • p93. In line with the revised reserves policy the recommended minimum balance for the General Reserve is £4m. The General Reserve balance is forecasted to be £7.2m at the year-end.
  • p12Report Template v29.0 4. Outturn for the 12 months to 31st March 2026 is a favourable variance to budget of £222,652, following use of budgeted and unbudgeted reserves.
  • p189. The key variances year to date are: a) £757,344 adverse variance in Housing as detailed in the relevant section of this report.
  • p4928. The main reason for the overspend is a higher number of households living in privately procured temporary accommodation (PPTA) at the start of the financial year than we had forecast in the budget, when it was set in December 2024. Although, in addition, despite seeing continued reductions within the financial year we have seen an uplift in placements in September and October. However, we have reverted back to a reduction in November and a considerable reduction In December of 28 households.

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