Content

Declarations of interest for this item:
 
None
 

RESOLVED:
 
That Cabinet:
 
1.   
Noted the Council’s current financial position as set out in
this report which builds on the work undertaken since the previous
report to Cabinet in July 2025. 

2.   
Noted the proposed new savings, pressures and capital programme
changes for 2026/27 – 2030/31 (Appendices 1 to 6).

3.   
Noted the current estimated budget gap for 2026/27 and the
remaining period of the Medium-Term Financial Strategy (MTFS) and
the key changes since the last update in July 2025 (Section
13.5).

4.   
Noted the new risks and uncertainties in Section
15. 

5.   
Noted that the General Fund Revenue Budget, Capital Strategy,
Capital Programme, HRA 2026/27 Budget and Business Plan and
Treasury Management Strategy Statement will be presented to Cabinet
on 11 February 2026 to be recommended for approval to the Full
Council meeting taking place on 3 March 2026.

6.   
Approved the launch of consultation on the revenue budget proposals
and proposed changes to the capital programme as set out in this
report.
 
Reasons for
decision
 
The Council has a statutory obligation to set
a balanced budget for 2026/27 and this report forms a key part of
the budget setting process by setting out the approach to
delivering this and a refreshed Medium-Term Financial Strategy
(MTFS).  It also highlights key updates
in terms of funding, expenditure, risks and issues since the last
report in July 2025.  The final budget
for 2026/27, Council Tax levels, Capital Programme, Treasury
Management Strategy, Housing Revenue Account (HRA) budget and
Business Plan will be presented to Cabinet on 11 February 2026 for
recommending to Full Council on 2 March 2026.
 
Alternative options
considered
 
The Cabinet must consider how to deliver a
balanced 2026/27 budget and sustainable MTFS over the five-year
period 2026/31, to be reviewed and adopted at the meeting of Full
Council on 2 March 2026.
 
This report is a key tool in achieving this
because it sets out the approach, scope and timetable to delivering
the 2026/27 Budget.