The Enfield Council Cabinet is scheduled to meet on Wednesday 24 June 2026. The public agenda includes a review of the council's financial performance for the 2025/26 financial year, an update on the Meridian Water regeneration project, and a strategic review of Energetik, the council's heat network company. The meeting will also cover the Treasury Management Outturn Report for 2025/26.

Revenue and Capital Outturn 2025/26

The Cabinet is scheduled to consider the Revenue and Capital Outturn report for the 2025/26 financial year. This report, prepared by the Chief Finance Officer, details the council's spending for the financial year, covering both day-to-day revenue expenditure and investment in long-term projects (capital). It includes provisional outturn figures for the General Fund revenue and capital, as well as information on the Collection Fund performance, Dedicated Schools Grant (DSG), and the Housing Revenue Account (HRA) revenue and capital. The report outlines the council's financial performance against its budget, highlighting areas of overspend or underspend and providing details on reserves and earmarked reserves. The council faced significant financial challenges during 2025/26, stemming from long-term structural underfunding and increasing costs and demand for statutory services. The report details how the council managed its finances, including the use of capital receipts to support transformation and reduce service overspends, and the rebuilding of risk reserves.

Meridian Water Update

A significant item on the agenda is an update on the Meridian Water regeneration project. This report, from the Executive Director of Housing and Regeneration, summarises progress and outlines how market engagement is shaping decisions on land transactions and delivery approaches. The Meridian Water project is described as one of the council's most significant regeneration programmes, central to delivering long-term housing, employment, infrastructure, and social value outcomes for the borough. The report details the progress made since the February 2026 Cabinet report, which approved a new land strategy for Meridian Water. This strategy aims to market sites to skilled partners to secure early receipts, accelerate delivery of development, and generate wider benefits for the community, such as jobs. The report details the marketing of Phase 2 North, Phase 2 South, and Phase 3 North, and seeks approval for the market testing strategy for remaining parcels of land. It also covers the strategy for Phase 1b and Phase 2 (Block M2) freehold, which involves a conditional land sale at a nominal value to avoid future liabilities under the Building Safety Act 2022. The report also addresses placemaking and activation initiatives, including the coordinated approach to meanwhile uses on sites awaiting development, and requests delegation to negotiate and accept additional funding for Strategic Infrastructure Works.

Energetik Strategic Review - Update

The Cabinet is also scheduled to receive an update on the strategic review of Energetik, the council's wholly owned heat network company. Energetik is described as delivering low-carbon, lower-cost heat to residents and is now entering a new phase of development. The strategic review aims to determine the most effective ownership and delivery model for future growth, considering the need for access to capital, technical expertise, and commercial capability at a scale beyond the council's current role. The report recommends, in principle, a full sale of Energetik supported by a Golden Share arrangement, subject to market testing, lender engagement, and due diligence. This approach is favoured over retaining full council ownership or pursuing a partial sale or joint venture, as it is seen as the strongest route to secure investment and growth capacity while protecting key public interest outcomes. A further report will be presented following the completion of legal advice and engagement with lenders and grant bodies.

Treasury Management Outturn Report 2025/26

The Treasury Management Outturn Report for the 2025/26 financial year will be presented. This report details the council's borrowing, cash investment, and cash management activities during the year. It confirms that the council met all prudential indicators set for treasury management activities, covering affordability, liquidity, risk, and borrowing limits. The report notes that total external borrowing at year-end was £1.29bn, broadly stable compared to the prior year, with General Fund borrowing below the limit set by the council. The cost of borrowing for the General Fund was £26.5m, which was £4.9m lower than budgeted, attributed to lower-than-expected capital expenditure and higher cash balances reducing the need to borrow externally. The report also covers debt and investments positions, the Capital Financing Requirement (CFR), and treasury investment activity, including income generated and the average rate of return. It highlights the council's prudent investment strategy, focusing on security and liquidity, and details investments in subsidiaries such as Energetik and Housing Gateway Limited.

The meeting is scheduled to take place on Wednesday, 24 June 2026, at 7:00 pm in the Conference Room at the Civic Centre, Silver Street, Enfield, EN1 3XA. Members of the public are entitled to attend and observe the proceedings.