Purpose

To consider the Budget Setting and Corporate
Plan for 2026/2027 and MTFS 2030/2031

Content

Resolved
 

(1)           
That the budget proposal be recommended to Council, and the summary
of consultation responses be noted.

(2)           
That authority be delegated to the Section 151 Officer (S151),
following consultation with the Leader of the Council and Portfolio
Holder for Finance, Regeneration and Property to complete the legal
Council Tax calculations once all the
information required has been received and submit as appendices to
the budget report to Council.
 

(3)           
That authority be delegated to the S151, following consultation
with the Leader of the Council and Portfolio Holder for Finance,
Regeneration and Property to make appropriate changes to the
proposed budget to Council including policies and plans.
 

(4)           
That Council be recommended to approve the proposed Fees and
Charges schedule for 2026/27 (Appendix 7 to the report) and
statutory notices be placed where required.
 

(5)           
That Council be recommended to consider and note the Equality
Impact Assessments of the Budget (Appendix 8 to the report).
 

(6)           
That Council be recommended to note the Corporate Plan Vision and
Strategy (Appendix 1 to the report).
 

(7)           
That Council be recommended to approve the Annual Delivery Plan
(Appendix 2 to the report).
 

(8)           
That, in relation to the Revenue Budget Strategy (Section 4.2 of
the report) and Medium-Term Financial Strategy (MTFS) (Section 4.6
of the report), Council be recommended to approve:
 
                      
i.         
The net revenue budget for the financial year commencing on 1 April
2026 (Table 4.2.1 of the report) and further analysed in the Budget
Book (Appendix 12 to the report).
                    
ii.         
The MTFS and Revenue Budget 2026/27 (Sections 4.6 and 4.2
respectively of the report), including the Savings Proposals and
Investments included at Appendices 4 and 5 respectively.
 

(9)           
That, in relation to Council Tax (Section 4.2.49 of the report),
Council be recommended to approve:
 
                    
i.           
An increase in the Basic Amount of Council Tax for Cherwell
District Council for the financial year beginning on 1 April 2026
of £5, resulting in a Band D charge of £163.50 per
annum.
                  
ii.           
From 1 April 2027 the implementation of a premium (second homes
premium) of 100% for dwellings that are no one’s sole or main
residence and are substantially furnished, following consultation
undertaken in November and December 2024 which showed 88% support
for the introduction.
                 
iii.           
That the mandatory notice of 12 months to all owners of second
homes that a premium will commence from 1 April 2027 be issued.
                
iv.           
 That relevant exceptions be applied as
set out by Government guidance (Appendix 22 to the report).
 

(10)       
That, in relation to the Capital Programme and related strategies
(Section 4.3 of the report), Council be recommended to approve:
 
                    
i.           
The Capital Bid(s) and Capital Programme at Appendices 17 and 18 of
the report respectively.
                  
ii.           
The Capital and Investment Strategy 2026/27 (Appendix 19 to the
report), including the Minimum Revenue Provision (MRP) Policy.
                 
iii.           
The Treasury Management Strategy, including the Prudential
Indicators, and Affordable Borrowing Limit for 2026/27 (Appendix 21
the report).
 

(11)       
That, in relation to reserves (Section 4.4 of the report), Council
be recommended to approve:
 
                    
i.           
A minimum level of General Balances of £8.011m as supported
by Appendix 15 of the report.
                  
ii.           
The Reserves Policy (Appendix 14 of the report).
                 
iii.           
The medium-term reserves plan described in Appendix 16 of the
report.
 

(12)       
That Council be recommended to approve The Pay Policy Statement, as
required by the Localism Act 2010, detailed in Appendix 9 to the
report.
 

(13)       
That, in relation to the Pension Fund (Section 4.5 of the report),
Council be recommended to approve a pension fund
prepayment for the years 2026/27 – 2028/29 of
£5.028m.