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Agenda item

Draft Budget 2026/27

Purpose:

This report provides an update on the developing budget for 2026/27 following the provisional government funding settlement announcement on 17 December 2025

 

Recommendations:

The Executive resolved on 14 January 2026 to recommend to Council to:

1.    Approve the Council Tax Base shown in Annex C, calculated as 49,561.59 for the year 2026/27.

2.    Authorise the Director of Finance to submit the National Non-Domestic Rates Return 1 (NNDR1) to Ministry of Housing, Communities and Local Government by the submission date of 31 January 2026.

 

Minutes:

Cllr Smith introduced the report to Members stating that the purpose of this report was to provide an update on the draft budget and budget setting process and to consider two recommendations which had been made by the Executive at its meeting held on the 14 January.

The draft budget for 2026/27 was submitted for Members consideration, ahead of approval of the final budget at the forthcoming meeting of Full Council on 25 February 2026. Members were informed that the Council had been required to set realistic budgets, balancing current need and future financial stability to ensure that adequate reserves were maintained over the medium term. The first draft of the revenue budget for 2026/27 had already been presented to the Executive on 17 December 2025, whilst the current draft had been updated with the provisional government funding settlement, draft fees and charges and the final tax base.

A summary of the changes to the budget were set out on pages 23-36 of the agenda pack. The report also provided details of the funding settlement and the assumptions made for both the revenue budget and the Medium-Term Financial Strategy (MTFS) including the current drivers of growth. This was highlighted in section 6 of the report.

The report emphasised that the budget and MTFS had been produced without incorporating any potential impacts from Local Government Reorganisation due to the impossibility of providing any credible financial projections. However, Members were informed that LGR would have an impact on the delivery of Council services and the financial position up until the establishment of the new Unitary Authority in April 2028.

In considering the report before them Members welcomed the budget proposals which was described as having exemplified the progressive yet prudent approach of the current administration. One Member highlighted the substantial level of investment that had been made in respect of the acquisition of properties for the purpose of temporary emergency accommodation. This had proved to have been hugely beneficial for addressing homelessness. Another Member spoke in support of the draft budget highlighting the increase in the allocation of resources toward the planning function. This was viewed as being of particular significance in the light of the changing policies directed by central government in the area of both planning policy and the development management process. A further comment on the budget was made with regard to the active investment work which was taking place around nature recovery and the importance of delivering on the objectives across the district and the county. This important area of work had been greatly advanced by the grant funded Nature Recovery officer role which had facilitated contact with other organisations and as such helped to deliver on the set objectives of the Council.

A number of other Members also rose to endorse the draft budget, whilst the Leader expressed his gratitude to the hardworking Members and staff that had made the Council of West Oxfordshire successful in achieving its key objectives. The Executive Member also thanked the Director of Finance and her team for all the work that had been undertaken in the preparation of the draft budget.

It was proposed by Cllr Smith and seconded by the Leader

RESOLVED: That,

(I) The Council Tax Base shown in Annex C, calculated as £49,561.59 for the year 2026/27 be approved,

(II) The Director of Finance be authorised to submit the National Non-Domestic Rates Return 1 (NNDR1) to the Ministry of Housing, Communities and Local Government by the submission date of 31 January 2026.

 

 

Supporting documents:

 

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