Issue - meetings

To consider the Spalding Special Expenses Quarter 2Forecast Outturn Position for 2025/26 (report of the Director of Finance (S151) enclosed)

Consideration was given to the report of the Director of Finance (S151) which provided members with an update on the Spalding Special Expenses Quarter 2 Forecast Outturn Position for 2025/26.

Before commencing the presentation, the Chief Finance Officer advised members of an omission on page 20 of the agenda pack. The table showed a budget of £234,250, however the recharges budget of £10,800 had been omitted. This would be amended so the correct budget should read £223,450.
The same omission had been repeated in the forecast column. This did not impact the overall bottom line but meant the budget and forecast lines were incorrect.

The Chief Finance Officer presented the Spalding Special Expenses Quarter 2 report 2025/26, and the main points were highlighted:

• The report covered the financial position to 30 September 2025 (Quarter 2), detailing forecast expenditure against the 2025/26 approved budget.
• The correct approved budget for 2025/26, as agreed by Council in February 2025, was £223,450, in line with the Spalding Special Precept.
• The forecast outturn for the year as at Quarter 2 was £203,206, indicating a forecast underspend of £20,244.
• Most budget areas remained broadly on track, as shown in Section 2 of the report.

The underspend was primarily attributable to increased income, including:

• Advanced cemetery plot income (Q1)
• Higher-than-budgeted income from Spalding United Football Club.

Section 3 of the report detailed reserves:

• Opening balance as at 1 April 2025: £216,000
• £24,000 contribution approved for Ayscoughfee leisure vandalism repair work.
• With the forecast underspend of £20,000, the reserve was projected to close at £212,000.

Members considered the report, and the following questions were raised.

• The Chairman sought clarification on the period covered by Quarter 2.
  • The Chief Finance Officer confirmed it represented the position as at 30 September 2025 (month 6). Although the Forum was meeting in January, this was the first opportunity to present the Q2 figures.
  • The Chief Finance Officer added that the Q2 forecast had also been used as a basis for informing the budget setting process for the forthcoming financial year, which the Forum would discuss next on the agenda.

AGREED:

That the Spalding Special Expenses Quarter 2 Forecast report for 2025/26 be noted.