Cabinet minutes
In plain English
Decided · A decision has been taken.
Cabinet resolved to recommend that Full Council approve the draft 2026/27 revenue budget, the Capital Programme for 2026/27 to 2028/29, and a 2.99% increase in the Borough Council's share of Council Tax. p9
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- p9The contingency reduction reflects confidence in managing financial risks, as the council began this year with only £200,000–300,000 contingency; £580,000 is therefore higher than the current level. Positive results in period 9 and potential business rate improvements further support this position. Housing remains the main risk, but the reserves policy includes a £4m minimum general reserve, with around £1m earmarked for housing pressures, providing adequate protection. Councillor Mackenzie thanked officers and councillors for their collaborative work on the budget. He noted this is the second year aiming for a break-even position, with last year’s budget on track. The medium-term outlook has improved significantly compared with projections last year, though continued financial discipline, including the 2.99% council tax increase, remains essential. He stated the stronger position gives scope to explore further initiatives for residents and recommended the budget for approval. RESOLVED (unanimously): Cabinet recommends that full Council:- ( i ) Approve the draft 2026/27 revenue budget (Appendix B) (ii) Approve a 2.99% increase in the Borough Council's part of the Council Tax (Appendix C – to be provided/updated for full Council). (iii) Approve the detailed recommendations in Appendix C, which relate to the setting of Council Tax in accordance with Sections 31 to 36 of the Local Government Act 1992 (Appendix C – to be provided/updated for full Council). (iv) Approve the Capital Programme 2026/27 to 2028/29 (Appendix E). (v) Approve the proposed use of Reserves (Appendix J) and that the Chief Finance Officer, in consultation with the Portfolio Holder for Finance, be authorised to transfer funds between earmarked reserves as deemed appropriate throughout the length of the medium-term financial planning period. (vi) Approve that the budget be amended as necessary to reflect the final grant figures including Disabled Facility Grants - once received.