Agenda item

Report by the Deputy Chief Executive (Section 151 Officer)

This report is the culmination of the Budget and Business Planning process for 2026/27 to 2030/31. It sets out the Cabinet’s proposed budget for 2026/27, medium term financial plan to 2030/31 and capital programme to 2036/37, together with a number of strategies and policies that the Council is required to approve for the 2026/27 financial year.

The Council is RECOMMENDED to:

a.     have regard to the statutory report of the Deputy Chief Executive (Section 151 Officer) (at Section 3) in approving recommendations b to d below;

b.    (in respect of the budget and medium term financial strategy – at Section 4) approve:

(1)  the council tax and precept calculations for 2026/27 set out in Section 4.3 and in particular:

(i)              a precept of £567,372,273.74

(ii)             a council tax for band D equivalent properties of £2,006.78;

(2)  a budget for 2026/27 as set out in Section 4.4;

(3)  a medium term financial strategy for 2026/27 to 2030/31 as set out in Section 4.1 (which incorporates changes to the existing medium term financial strategy as set out in Section 4.2);

(4)  the Financial Strategy for 2026/27 at Section 4.5;

(5)  the Earmarked Reserves and General Balances Policy Statement 2026/27 at Section 4.6 including

(i)              the Deputy Chief Executive (Section 151 Officer)’s recommended level of General Balances for 2026/27 (Section 4.6), and

(ii)             the planned level of Earmarked Reserves for 2026/27 to 2030/31 (Section 4.6.1)

c.      (in respect of capital – at Section 5) approve:

(1)  the Capital & Investment Strategy for 2026/27 to 2036/37 including the Prudential Indicators and Minimum Revenue Provision Methodology Statement as set out in Section 5.1;

(2)  a Capital Programme for 2026/27 to 2036/37 as set out in Section 5.4 which includes new capital proposals set out in Section 5.3.

d.    (in respect of treasury management – at Section 5) approve:

(1)  the Treasury Management Strategy Statement and Annual Investment Strategy for 2026/27 at Section 5.2 including the Treasury Management Prudential Indicators and the Specified Investment and Non-Specified Investment Instruments.

(2)  that any further changes required to the 2026/27 strategy be delegated to the Deputy Chief Executive (Section 151 Officer) in consultation with the Leader of the Council and the Cabinet Member for Finance, Property and Transformation;