Purpose

The purpose of the report is to present the
cabinet’s proposed 2026/27 revenue budget. The report
highlights our strategic approach to responding to the significant
medium-term financial pressures whilst ensuring a sustainable and
stable financial position to deliver our overarching priorities and
desired outcomes

Content

The Cabinet considered
its proposed 2026/27 Revenue Budget outlining the Council’s
strategic approach to responding to the significant and critical
medium-term financial pressures worsened by the proposed funding in
the provisional settlement, and recommended to the Council Meeting
that it:-
 
(1) Approve the Budget
for 2026/27 described in the report and set out in Appendix 2 and
3.
 
(2) Note the risk
assessment of the 2026/27 Budget at Appendix 5 and the report of
the Director of Finance - Section 151 Officer on the adequacy of
proposed financial reserves and robustness of the estimates also
included at Appendix 5.
 
(3) Approve the
required Council General Fund Balance to reflect the Director of
Finance - Section 151 Officer’s assessment of risks.
 
(4) Note, comment
upon, and approve the financial forecasts and assumptions for
2026/27 to 2029/30 at Appendix 6, and the key issues to be
addressed in formulating a response to the future financial
challenges facing the council.
 
(5) Pass the
appropriate Council Tax resolution which produces a Council Tax
increase of 4.99% in 2026/27 (2.99% General increase, 2% Adult
Social Care Precept increase) as illustrated in Appendix 7.

Alternative options considered

None.