Purpose

Cabinet will be asked to agree that our latest
medium-term financial planning, including our detailed proposed
budget for 2026-27, be forwarded to the meeting on City Council on
4th March 2025. City Council will be asked to approve Council Tax
for 2026-27 and Revenue and Capital Plan and endorse the basis for
planning for 2026-27 to 2028-29.

Content

Cabinet agreed to
recommend the medium-term financial planning for 2026-27 to 2028-29
to the meeting of City Council on 4 March to:
 

i) 
Approve the 2026-27 revenue and capital budget as set out in Medium
Term Financial Plan 2026-27 to 2028-29.

ii) 
Endorse the budget proposals for 2026-27 as set out in Appendix 1
– Summary of 2026-27 savings proposals.
 

iii) 
Approve a core Council Tax increase of 2.99% and use the additional
income generated to avoid the need to make further reductions to
service provision.
 

iv) 
Approve the application of governments’ 2% Council Tax
precept for adult social care to fund increased investment in adult
social care.