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The purpose of the report was to present the
Revenue Budget for 2026/27, Capital Programme and Medium-Term
Financial Strategy for 2026/27 to 2029/30 to Cabinet for
approval.
 
Councillor Patrick Coleman, Cabinet Member for
Finance, introduced the report.
It was noted that the Budget and Medium-Term
Financial Strategy, had been prepared in the context of ongoing
financial pressures and a significant medium-term budget gap.
Members noted that, while funding reforms and a three-year
provisional settlement provided increased certainty, savings and
efficiencies would be required to maintain financial
sustainability.
 
It was noted that there was no immediate risk
of the Council requiring Exceptional Financial Support or issuing a
section 114 notice. The 2026/27 budget was balanced through the use
of reserves, with further gaps forecast in later years.
 
The Council noted proposals to increase
Council Tax by £5 for a Band D property, which had received
public support through consultation. Members also noted the planned
use and maintenance of reserves, the continued requirement to
deliver savings and transformation, and the proposed capital
programme, including investment in waste and recycling
infrastructure, funded without additional borrowing.
 
The recommendations were proposed by
Councillor Coleman and seconded by Councillor Tristan
Wilkinson.
 

RESOLVED that Cabinet considered the budget report
and approved for recommendation to Council:

1.   
the Medium-Term Financial Strategy
set out in Annex B

2.   
the Budget Pressures and Savings
for inclusion in the budget, set out in Annex C

3.   
the Council Tax Requirement of
£7,419,716 for this Council

4.   
the Council Tax level for Cotswold
District Council purposes of £163.93 for a Band D property in
2026/27 (an increase of £5)

5.   
the Capital Programme, set out in
Annex D

6.   
the Annual Capital Strategy
2026/27, as set out in Annex E

7.   
the Annual Treasury Management
Strategy and Non-Treasury Management Investment Strategy 2026/27,
as set out in Annex F

8.   
the Strategy for the Flexible use
of Capital Receipts, as set out in Annex H

9.   
that £2m is set aside in a
new earmarked reserve Council Priority: LGR Transition through the
releasing of £2m of the balance currently held in the
Financial Resilience Reserve.

10. the
balances and reserves forecast for 2026/27 to 2029/30 as set out in
Section 7 of the report.

Cabinet approved delegation to the Council’s Deputy Chief
Executive, in consultation with the Chief Executive, Leader, and
Cabinet Member for Finance

11. To
agree changes to the General Fund Summary arising from the Final
Local Government Finance Settlement and the Business Rates
Retention Scheme estimates prior to submission to
Council.
 
Voting record:
7 For, 0 Against, 0 Abstentions.