Islington Council is forecasting a significant budget underspend of £4.337 million for the 2025/26 financial year, a positive development attributed to increased parking income and a one-off payment from the NHS.

The forecast was revealed during the Islington Council Executive meeting held on Wednesday, March 25, 2026, where budget monitoring for the third quarter of the financial year was discussed. This projected underspend represents a notable improvement from the previous quarter's figures.

Councillor Flora Williamson, Executive Member for Finance and Performance, speaking at the Islington Council Executive meeting.
Councillor Flora Williamson, Executive Member for Finance and Performance, speaking at the Islington Council Executive meeting.Source: Executive papers, 25 March 2026

Councillor Flora Williamson, Executive Member for Finance and Performance, presented the budget monitoring report, describing it as a good news story. The report, which was agreed by the Executive, detailed adjustments, allocations, receipts, and debt matters contributing to the improved financial outlook. The improved financial outlook, forecasting an underspend of £4.337 million, was largely attributed to increased parking income and a one-off payment from the NHS.

A dashboard displaying delivery plan metrics for Islington Council, categorized by mission areas such as 'Child-Friendly Islington', 'Community Wealth Building', and 'Healthier', with each metric shown as a donut chart indicating progress status (Green, Amber, Red).
A dashboard displaying delivery plan metrics for Islington Council, categorized by mission areas such as 'Child-Friendly Islington', 'Community Wealth Building', and 'Healthier', with each metric shown as a donut chart indicating progress status (Green, Amber, Red).Source: Executive papers, 25 March 2026

The budget monitoring report for the third quarter of the financial year can be found in the 2025-26 Q3 Budget Monitoring Report.