The Executive, Resources and Contracts Policy Development and Scrutiny Committee met on Monday 09 February 2026 to discuss the Council's financial strategy, capital programme, and ongoing contracts. Key decisions included supporting recommendations for the 2026/27 Council Tax and Adult Social Care precept, approving the Capital Strategy and Capital Programme, and noting the Corporate Contracts Register.

Council Tax and Financial Strategy

The Committee reviewed the Council Tax Report for 2026/27, which highlighted the significant budget issues facing the Council due to reductions in government funding. The report detailed the projected funding levels from various sources and the increasing budget pressures on revenue spending. The Council is facing a significant budget gap, partly due to government funding reductions and cost pressures, which is being partially offset by transformation savings but still requires further drawdown of reserves. The Committee discussed the impact of these financial challenges, noting that the Council must balance its budget and prioritise statutory responsibilities. The Director of Finance confirmed that the costs associated with delivering transformation savings are accounted for separately from the savings themselves. A member suggested that to avoid increasing Council Tax by more than 5% annually, greater transformation savings would be necessary. The Committee supported the recommendations in the report, which included proposals for the Bromley element of the 2026/27 Council Tax and the Adult Social Care Precept.

Capital Strategy and Programme

The Committee considered the Capital Strategy 2026/27 to 2029/30 and the Q3 Capital Programme Monitoring report. This report detailed the Council's capital expenditure plans, financing arrangements, and the projected Capital Financing Requirement (CFR), which represents the Council's underlying borrowing need. The report indicated a shortfall in capital resources from 2024/25 onwards, with plans to address this through asset disposals and borrowing. The Committee noted that the relocation of the Coroner's Court is still under contract negotiation, with an aim to remain within budget. Regarding FM Planned Maintenance works, the Assistant Director for Strategic Property confirmed that a further report detailing how the funds would be spent would be presented to the Executive before they were drawn down. The Committee also noted a review of IT systems procurement across the Council for potential consolidation, with a £9 million assumption for further costs related to the capital programme period. The Committee supported the recommendations in the report.

Treasury Management Strategy

The Committee undertook pre-decision scrutiny of the Treasury Management Strategy report for 2026/27. This report summarised treasury management activity during the third quarter of 2025/26, noting that investments totalled £257.2 million and there was no outstanding external borrowing. The report included the Treasury Management Strategy and Annual Investment Strategy for 2026/27, as required by the CIPFA Code of Practice for Treasury Management in the Public Services, along with Prudential Indicators and the Minimum Revenue Provision (MRP) Policy Statement, both requiring Council approval. The Director of Finance indicated that an announcement regarding the Dedicated Schools Grant (DSG) deficit could potentially delay the need for external borrowing. The Committee noted that investment criteria required investments to be FCA regulated and in sterling, with an aspiration to achieve the best possible returns. The Committee supported the recommendations in the report.

Contracts Register

The Committee reviewed the Corporate Contracts Register for February 2026. This report provided an overview of the Council's contracts valued at over £200,000, along with a specific register for the Executive, Resources and Contracts Portfolio detailing contracts over £50,000. The report highlighted that as of 28 January 2026, there were 203 active contracts exceeding £200,000, with none flagged as a concern. For the Executive, Resources and Contracts Portfolio, there were 86 contracts valued at £50,000 or more, with two flagged for attention. The Assistant Director for Governance and Procurement confirmed that authorisations for these two flagged contracts were expected by the end of the week. The Committee noted the report and the detailed commentary provided in Part 2.

Matters Outstanding and Work Programme

The Committee noted the report on Matters Outstanding and the Work Programme, which detailed the Committee's business management and proposed work plan. A member noted the absence of the Property Portfolio Update for 2025 and requested an interim report on 2025 valuations for the March meeting, as a substantive report on March 2026 valuations was planned for September. The Committee was also informed that the annual Biggin Hill Report would be presented in the Autumn. The report was noted.

Forward Plan of Key Decisions

The Committee noted the Forward Plan of Key Decisions covering the period February 2026 to April 2026.

Exempt Business

The Committee resolved to exclude the press and public from discussions on certain items due to the likely disclosure of exempt information. This included the Part 2 Appendix of the Capital Strategy and Q3 Capital Programme Monitoring report, and the Part 2 Contracts Register, both of which were noted by the Committee.