Ipswich Borough Council’s Executive will consider the Quarter 3 (Q3) Corporate Budget Monitoring report for 2025/26 at its meeting on Tuesday 24 March.
This report, covering the period October to December 2025, shows that the Council has taken proactive steps to manage ongoing economic pressures while protecting frontline services and maintaining longterm financial sustainability. In addition to highlighting a stable financial position, the Q3 results show significant progress on savings, and continued investment in services that matter most to residents.
Across core budgets, the Council’s financial forecasts for the end of the year remain on track:
- General Fund: The Q3 forecast shows a net adverse variance of £0.580m, which the Council will fund from contingencies. The General Fund Working Balance is expected to be £4.209m at 31 March 2026, in line with the Council’s Medium Term Financial Plan.
- Housing Revenue Account: A strong performance is forecast, with a £0.750m surplus, an improvement of £0.954m compared to budget.
- Shared Revenues Partnership: The yearend position is forecast to deliver a £0.720m surplus, supporting the partnership’s ongoing stability.
These results reflect the Council’s early and decisive action to tackle inflationary and demand pressures, ensuring that services remain financially secure.
The Council also continued to deliver against its ambitious £19 million multi-year savings programme agreed in 2024. By the end of Quarter 3:
- 76% of savings projects had already been completed, and
- The Council has delivered £3.554 million of savings to date - 93% of the annual target.
This has been effective in placing the organisation on a more sustainable financial footing despite continued national cost pressures.
Capital investment continues across the town reflecting the Council’s commitment to improving local facilities, housing, and infrastructure. The 2025/26 capital programme is forecast to deliver £49.283m of investment across housing, parks, culture, and major development projects.
Investment in a greener and more efficient fleet also continues, with electric vehicles now making up 26% of the Council’s fleet, supporting its ambition to be carbon neutral.
The Council’s approach to borrowing and investments is reported as cautious and well managed:
- Net borrowing reduced by £7.78m during Q3.
- Total borrowing remains significantly below the Council’s authorised debt limit.
- Investment performance remains stable and broadly in line with forecasts.
This prudent management ensures borrowing costs remain affordable and aligned with the Council’s longterm plans.
Alongside financial performance, the report highlights strong operational delivery:
- 96.7% of undisputed supplier invoices were paid within 30 days, supporting local businesses and maintaining cashflow in the supply chain.
- Focused work on debt collection continues, with longterm irrecoverable debts written off this quarter to maintain accurate financial reporting.
Councillor Martin Cook, Portfolio Holder for Resources, said: “This Q3 report demonstrates the strong financial discipline and proactive planning that underpin everything we do. Despite the national challenges facing local government, we’ve kept Ipswich on a stable and sustainable footing by acting early and focusing on what matters most for our community. Ipswich Borough Council continues to safeguard essential services, deliver savings, and invest wisely in a thriving future for our town.
“Our approach ensures that residents and businesses can be confident in the Council’s longterm financial stability and ability to deliver real value. We will continue to monitor our financial performance closely and take further positive action to protect services, support residents, and maintain a secure financial position.”
After it is considered by the Executive on 24 March, the Q3 report will be presented to the Audit & Governance Committee on the same day.