The following chart shows how the council funded the 2025/26 capital programme spend for both the General Fund and the Housing Revenue Account. Direct revenue contributions to capital schemes totalled £6.956m in year and borrowing increased by £117.758m, which is managed by internal borrowing.
The HRA outturn variance is a net underspend of £2.925m against an approved surplus budget of £0.448m with a transfer to reserves. The main drivers of the favourable variance are savings on borrowing due to slippage on new build programmes and other capital expenditure and additional income achieved from letting regeneration void properties for temporary accommodation tenants.
| Budget £m | Outturn £m | Variance £m |
|---|
| Income | (90.403) | (91.162) | (0.759) |
|---|
| Expenditure | 89.955 | 87.789 | (2.166) |
|---|
| Net cost of services | (0.448) | (3.373) | (2.925) |
|---|
| Transfer to reserves | 0.448 | 3.373 | 2.925 |
|---|
| TOTAL | 0.000 | 0.000 | 0.000 |
|---|
The underspend was transferred to reserves.