Decision

 
1.To thank scrutiny
commissions for taking time to consider and comment on the draft
budget.
 
2. To recommend to
Council the following:
 
(a)       approve the three
year budget strategy described in this report;
 

(b)      
approve the proposed budget and council tax for 2026/27, including
the recommendations in the formal budget resolution circulated
separately;
 

(c)       
that £2m is transferred from the budget strategy reserve to
an earmarked reserve to support the Council-owned Adventure
Playgrounds in the City. The funding will be provided as capital
and revenue therefore it is proposed to add up to a maximum of
£2m to the capital programme to be funded from this earmarked
reserve.
 

(d)      
approve the transfers from the budget strategy reserve as set out
in paragraph 8.3 of this report;
 

(e)      
approve the budget ceilings for each service shown at Appendix 1 to
this report;
 
(f)        approve the
scheme of virement described in Appendix 2 to this report;
 

(g)       note
the Director of Finance’s view on the adequacy of reserves
and the estimates used in preparing the budget;
 

(h)       note
the equality implications arising from the proposed tax increase,
as described in paragraph 14 and Appendix 3;
 

(i)         note the
medium-term financial strategy and forecasts presented at Appendix
4, and the financial challenges ahead;
 
(j)         note the
earmarked reserves position set out at Appendix 5;

(k)       
note the policy on council tax premiums and discounts set out at
Appendix 6;
           

(l)         note
that the impact of the Council Tax Support Scheme has been reviewed
by the Executive, and reported to OSC, during the year;
 

(m)      approve the
inflationary increase to Council Tax Support Scheme thresholds as
shown at Appendix 7 and approve further inflationary increases in
future years (to be calculated with reference to published CPI
inflation for the September prior to the start of the year in
question);
 
(n)       approve the capital
receipts flexibility policy at Appendix 8.

Reasons for the decision

 
The revenue budget
forms part of the budget and policy framework.  Its approval is the responsibility of the full
Council. The City Mayor is responsible for the preparation of a
proposal for Council consideration.
 
A draft budget was
published on 9th December 2025.  The
budget was considered by a number of scrutiny commissions, whose
comments were considered by Overview Select Committee on 2nd
February.  Minutes of the commissions
and Overview Select Committee have been circulated to Council
members.