Agenda item

Report from the Executive Director of Corporate Services.

Recommendations:

That Cabinet recommend to Council:

1.    Approval of the Budget and Financial Strategy for 2026/27 as set out in the report and appendices, including a basic Council Tax increase of 1.95% and an Adult Social Care precept increase of 2%.

2.    Approval of the extension to the Local Council Tax Support Top Up Scheme, that will provide up to £131.44 of additional support to low income households accessing the Council’s Council Tax Support Scheme. It will support those most financially vulnerable to rising household costs, through reduced Council Tax bills as described in Section 2.5.15

3.    Approval of the updated Medium Term Financial Strategy (MTFS) to 2028/29, as described within Section 2.6.

4.    Approval of the Reserves Strategy as set out in Section 2.8 noting that the final determination of Reserves will be approved as part of reporting the financial outturn for 2025/26.

5.    To delegate authority to the Service Director of Planning, Regeneration and Transport in consultation with the Service Director of Financial Services and Cabinet member for Transport, Jobs and the Local Economy, to approve the specific detailed allocations and use of the Local Plan Reserve. 

6.    To note and accept the comments and advice of the Executive Director of Corporate Services (Section 151 Officer), provided in compliance with Section 25 of the Local Government Act 2003, as to the robustness of the estimates included in the Budget and the adequacy of Reserves for which the Budget provides as set out in Section 2.14.

7.    To note the feedback from the public and partners following the public consultation on the Council’s budget for 2026/27 which took place from 28 November 2025 to 9 January 2026, attached as Appendix 5.

8.    Approval of the proposed increases in Adult Social Care provider contracts and for Direct Payments as set out in Section 2.4.

9.    Approval of the proposed approach and increases in Children’s Social Care costs as set out in Section 2.4.23.

10. Approval of the revenue investment proposals set out in Section 2.7 and Appendix 2.

11. Approval of the proposed revenue savings set out in Section 2.7 and Appendix 4.

12. Approval of the Council Fees and Charges for 2026/27 attached as Appendix 7.

13. Application of the Business Rates Reliefs as set out in Section 2.10, in line with Government guidance.

14. Approval of the proposed Capital Strategy and Capital Programme as presented in Section 2.12 and Appendices 3A to 3F.

15. Approval of the Treasury Management matters for 2026/27 as set out in Appendix 9 of this report including the Prudential Indicators, the Minimum Revenue Provision Policy, the Treasury Management Strategy and the Investment Strategy. 

16. Approval that any changes resulting from the Final Local Government Finance Settlement 2026/27 be reflected in the Budget and Council Tax Report to Council on 4 March.  

17. Continuation of the principles and measures adopted since April 2020 to make faster payments to suppliers on receipt of goods, works and services following a fully reconciled invoice as described in Section 2.11.

18. Approval of the procedure for Budget allocations for the Community Leadership Fund as set out in Section 2.9.

19. Approval that the Capital Programme Budget continues to be managed in line with the following key principles:

(i)             Any underspends on the existing approved Capital Programme in respect of 2025/26 be rolled forward into future years, subject to an individual review of each carry forward to be set out within the Financial Outturn 2025/26 report to Cabinet.

(ii)            In line with Financial and Procurement Procedure Rules 7.7 to 7.11 and 8.12, any successful grant applications in respect of capital projects will be added to the Council’s approved Capital Programme on an ongoing basis.  

(iii)          Capitalisation opportunities and capital receipts flexibilities will be maximised, with capital receipts earmarked to minimise revenue costs.