Purpose

To
Note/Agree the 2026/27 General Fund Budget and MTFS

Content

It was
RESOLVED: -
 

1.1         
That the General Fund revenue and capital budget
for 2026/27 and the MTFP set out in the report was endorsed for
recommendation to Council on 26 February 2026 subject to
accommodating changes following announcements made by government on
the 9th February 2026.

 

1.2         
That the General Fund Budget for 2026/27 was
based on an increase to Council Tax of £5.23 per annum (10p
per week) for a Band D property, which was equivalent to 2.99%,
increasing from £175.03 to £180.26 per
annum.
 

1.3         
That the new income bands and contribution rates
for the 100% Local Council Tax Reduction (Working Age) Scheme, as
set out in paragraph 8.27, were endorsed for recommendation to
Council on 26 February 2026.
 

1.4         
That a transfer be made of £1m from the Mid
Suffolk Plan Implementation Reserve to the new Stowmarket
Innovation Gateway Risk Reserve which would sit in the Financial
Resilience & Risk reserve section as per Appendix
C.
 

1.5         
That £1.602m be transferred to the Waste
Reserve to fund the new food waste service in
2026/27.
 

1.6         
That the £496k transitional protection
grant be transferred to the Financial Resilience Risk Reserve in
2026/27.
 

1.7         
That the surplus for 2026/27 of £3.387m be
transferred to the Mid Suffolk Implementation
Reserve.
 

1.8         
That the Flexible Use of Capital Receipts
Strategy at Appendix F be endorsed for recommendation to Council on
26 February 2026.
 

1.9         
That the Council Tax Support scheme in Appendix H
be endorsed for recommendation to Council on 26 February
2026.
 
REASON FOR
DECISION
To
bring together all the relevant information to enable Cabinet
Members to review, consider and comment upon the Councils General
Fund budget for endorsement and recommendation to
Council.
 
Alternative
Options Considered and Rejected:
Setting a balanced budget was
a statutory requirement: options for balancing the budget are
contained within this report.
Any Declarations of Interests Declared: None
Any Dispensation Granted: None