Purpose

The Cabinet will be presented with a
progress report on the budget setting process for 2026/27 and
beyond and asked to consider appropriate proposals that would
assist the Council in setting a balanced budget in future
years.

Content

Cabinet resolved to:
 
(i)  Note the revised
Budget Gap for 2026/27 of £21.8m and the projection of the
future Medium Term Financial Plan position for years 2027/28 and
2030/31;
 
(ii)  Note the Reserve
position as set out in section 7 of the report;
 
(iii)  Note the assumptions set
out in the report underlying those forecasts as well as the
financial risks and uncertainties;
 
(iv)  Note the current savings
and growth proposals to help balance the 2026/27 budget as detailed
in Appendix A to the report and agree the arrangements for public
and stakeholder consultation as set out in section 8 of the
report;
 
(v)  Agree to consult Borough
residents and taxpayers on the levying of a 2.99% General Council
Tax increase and a 2% Adult Social Care Precept to support the
Borough’s most vulnerable residents, subject to those
thresholds being confirmed by Central Government; and
 
(vi)  Delegate authority to the
Strategic Director, Resources, in consultation with the Leader of
the Council, to agree any additional savings proposals for 2026/27
for public consultation.