Agenda item

To receive a report from the Director of Finance which presents the financial strategy 2026/27 to 2030/31, including detailed revenue budget proposals for 2026/27, and asks Members to recommend to Council approval of the proposals. 

Resolved – That Executive recommends to Council approval of the budget proposals as outlined in this report. In particular:

a)   The net revenue expenditure requirement of £187.009m.

b)   A council tax requirement of £127.181m.

c)    The revenue growth proposals as outlined in paragraphs 75 to 77 of the report.

d)   The 2026/27 revenue savings proposals as outlined in annex 2 of the report.

e)   The fees and charges proposals as outlined in annex 3 of the report.

f)     The Housing Revenue Account (HRA) 2026/27 budget set out in annex 5 of the report.

g)   The Dedicated Schools Grant (DSG) proposals outlined from paragraph 168 of the report.

h)   The Flexible Use of Capital Receipts Policy set out in annex 7 of the report, including delegation to the Director of Finance to determine the costs that can be charged to the transformation programme.

Reason: To ensure a legally balanced budget is set.

In addition, that Executive

i)     Approves the average rent increase of 4.8% to be applied to all rents for 2026/27.

Reason: To ensure the ongoing financial stability of the HRA and allow work on improving the quality of the council’s affordable housing to continue.