The Council of the London Borough of Enfield convened on Thursday, 26th February 2026, to discuss and set the Revenue Budget and Council Tax for the 2026/27 financial year, alongside updating the Council's five-year Medium-Term Financial Plan (MTFP). The meeting also covered the proposed Ten-Year Capital Programme for 2026/27 to 2035/36, the Housing Revenue Account (HRA) budget and rent setting for 2026/27, the Treasury Management Strategy for 2026/27, and the review and adoption of the statutory Pay Policy Statement. Additionally, members were scheduled to agree the Members' Allowances Scheme for 2026/27 and address any questions submitted by councillors.

Budget Report 2026/27 and Medium Term Financial Plan 2026/27 to 2030/31

The Council was scheduled to set the General Fund revenue budget for the upcoming financial year and update its five-year Medium-Term Financial Plan (MTFP). This included determining the Council Tax levels for 2026/27, incorporating the Greater London Authority (GLA) precept. The report highlighted a significant increase in core funding, projected to be £65 million between 2025/26 and 2026/27, comprising a £54.6 million increase in government funding and a £10.3 million increase in Council Tax income. This growth is intended to address rising demand for social care and homelessness support. The budget proposals included a 2.99% general Council Tax increase and a 2.00% Adult Social Care Precept, resulting in a combined increase of 4.79% for a Band D property. The report also noted that while the budget was projected to be balanced for the next three years, a gap of £34.5 million was anticipated in years four and five. The Council's Section 151 Officer's statement on the robustness of the budget and adequacy of reserves was also to be considered.

2026/27 Capital Strategy and Ten-Year Capital Programme 2026/27 to 2035/36

The Council was set to consider and agree the Ten-Year Capital Strategy and Capital Programme for 2026/27 to 2035/36. This strategy outlines the Council's investment priorities, focusing on housing, education, health, and infrastructure, while aiming for financial sustainability. The proposed 10-year programme totals £2.06 billion, with £476.4 million planned for 2026/27. Key areas of investment for 2026/27 included £7.2 million for highways, carriageways, and bridges; £3.0 million for leisure facilities, parks, and playgrounds; £7.5 million for vehicle replacement; £2.6 million for corporate condition programmes; £56.2 million for Meridian Water infrastructure; £12.1 million for Special Education Needs (SEND) provision; and £142.1 million for the Housing Revenue Account (HRA). The strategy also detailed plans for the use of capital receipts, aiming to generate £130 million over five years, with £50 million targeted for 2026/27, primarily for debt reduction and transformational revenue spending. The report also highlighted risks associated with the programme, including reliance on future capital receipts and grant funding, as well as construction cost inflation and delivery delays for projects like Meridian Water.

2026/27 HRA Budget and Rent Setting Report and Business Plan Update

The Council was scheduled to agree the Housing Revenue Account (HRA) revenue budget and HRA rents for 2026/27. This report presented an updated 30-year HRA Business Plan, considering economic factors such as inflation, interest rates, and regulatory requirements. A proposed rent increase of 4.8% (CPI + 1%) was recommended for 2026/27, in line with government guidelines. The report also detailed proposed service charges for tenants and leaseholders, with an average increase of £0.21 per week. Additionally, the Council was to agree charges for heating, garages, parking bays, and community halls. The report noted the planned increase in Council-owned properties over the next 10 years and outlined the criteria for the disposal of void one-bedroom or studio flats to reinvest in larger homes. The financial framework for assessing development projects was also reviewed, with updated hurdle criteria for Net Present Value (NPV) and Internal Rate of Return (IRR).

2026/27 Treasury Management Strategy

The Council was set to agree its Treasury Management Strategy for 2026/27, outlining its approach to managing borrowing, investments, and cash flows to ensure financial sustainability and minimise risk. The strategy aimed to balance securing low interest costs with certainty of those costs over the borrowing period, with a priority on security and liquidity for investments. Key proposals included maintaining the Authorised Limit for borrowing and leases at £1.9 billion and approving a change in the annuity rate used for Minimum Revenue Provision (MRP) calculations for unsupported borrowing from 2026/27. The report detailed the Council's borrowing position, with a forecast cumulative underlying need to borrow of £1.5 billion by the end of 2026/27, and outlined the strategy for managing interest rate risk, including the use of concessionary borrowing rates for the HRA. The investment strategy focused on security, liquidity, and return, with surplus cash held in low-risk Money Market Funds and a limit of £10 million for loans to other Councils.

Review and Adoption of Statutory Pay Policy Statement

The Council was scheduled to review and adopt its statutory Pay Policy Statement for the 2026/27 financial year. This statement outlines the Council's policies on the level and elements of remuneration for chief officers and the lowest-paid employees, as well as the relationship between their pay. Amendments proposed for the 2026/27 statement included updated population estimates, clarification on senior manager posts and pay progression, and reference to the National Joint Council (NJC) pay award and the London Living Wage. The report also detailed the Council's approach to additional payments, retirement on medical grounds, and the process for approving severance payments, noting that no staff retired on voluntary severance or early retirement in the interests of efficiency in the previous year.

Members' Allowances Scheme 2026/27

The Council was to receive a report on the statutory annual review of Members' allowances for the 2026/27 Municipal year. The report detailed the existing scheme, which specifies the Basic Allowance for all councillors and Special Responsibility Allowances (SRAs) for those holding additional roles. It was noted that the Independent Remuneration Panel's (IRP) 2023 report recommended a Basic Allowance significantly higher than the current one paid to Enfield councillors, and also recommended annual updates in line with the NJC pay award. However, the report recommended agreeing the existing scheme without applying the automatic uplift for 2026/27, meaning no financial implications for the report. Revisions to the scheme might be required after the local elections in May.

Questions

The agenda indicated that a list of questions from councillors and their written responses would be published prior to the meeting.

Committee Memberships and Nominations to Outside Bodies

The meeting was scheduled to confirm any changes to committee memberships and nominations to outside bodies.

Date of Next Meeting

The date of the next Council meeting was noted as Wednesday, 27 May 2026.