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Issue - meetings

Draft Budget 2026/27 version 1

 

 

Meeting: 17/12/2025 - Executive (Item 434)

434 Draft Budget 2026/27 version 1 pdf icon PDF 469 KB

Purpose:

This report provides an update on the developing budget for 2026/27.

 

Recommendation(s):

That the Executive resolves to:

1.    Note the update on the developing budget for 2026/27.

 

Additional documents:

Minutes:

Councillor Alaric Smith, Executive Member for Finance, introduced the item, the purpose of which was to provide an update on the developing budget for 2026/27.

 

In his presentation Councillor Smith made the following points:

 

  • The Council would approve the budget for 2026/27 on 25 February 2026. A second draft version would be brought to the Executive meeting in January.
  • The draft presented had been completed in advance of the announcement of the government funding settlement which was imminent and therefore the draft was subject to change.
  • The focussed work of the draft had been done on the revenue part of the budget.
  • The Council had not received the guarantee from the Ministry of Housing, Communities and Local Government (MHCLG) that funding would not fall and therefore the Council would be subject to a cash cut of 5% in 2026/27.
  • Financial modelling had indicated a £943,000 loss of income over the three-year period to 2028/29.
  • Various surplus funds had been moved into earmarked reserves to fund any gap in the revenue budget over the life of the Medium-Term Financial Strategy (MTFS).
  • The MTFS would be updated following publication of the government funding settlement.
  • Councillor Smith detailed the changes to funding and income that were shown in the report.

 

Councillor Smith proposed accepting the recommendations of the report.

 

Councillor Andy Graham, Leader of the Council, seconded the proposal and noted that this was the early stage of the budget process.

 

This was voted on and approved unanimously.

 

RESOLVED:

That the Executive:

1.    Noted the update on the developing budget for 2026/27.

 

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