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In accordance with the Borough Council's
Financial Procedure Rules, the Head of Finance and s151 Officer's
report provided an update on the financial position as of the end
of July 2025. Members were also informed about the progress towards
achieving the savings target for the 2026/27 budget
 
A number of areas had been identified as
variations to the original estimate and included a reduced
inflationary increase on the Refuse, Recycling and Street Cleansing
Contract, an adjustment in respect of utility support payments to
the Tonbridge and Malling Leisure Trust arising from falling energy
prices and the implementation of energy saving measures at leisure
facilities and an increased award in respect of ‘Polluter
Pays’ grants.  These had resulted
in a net variable variance as at the end of July 2025.
 
Attention was also drawn to areas of overspend
including temporary accommodation for homelessness clients,
essential grounds work maintenance surrounding the rebutment at
Tonbridge Castle and unexpected works to resolve a water leak at
the Racecourse Ground.
 
Particular
reference was made to base budget reviews undertaken by all
Services to identify contributions towards the savings target.
Whilst the areas of saving and/or income generation were short of
the minimum £300,000 target, when the overprovision of
inflation for the Refuse, Recycling and Street Cleansing Contract
was reflected, the revised total met the savings target.
 
Finally, Members recognised the risks related
to Business Rates and the lack of valuation on some properties and
the ongoing Fair Funding Review, both of which could fundamentally
impact the Borough Council’s income streams. 
 
Cllr Coffin proposed, Cllr Boughton seconded
and Cabinet
 
RESOLVED: 
That
 

(1)           
the net favourable variance of circa £730,000 as at the end
of July 2025 when compared to the proportion of the 2025/26 budget
(as set out in paragraph 4.9) be noted;
 

(2)           
the current business rate pool position as at the end of July 2025
(as set out in paragraph 5.2) be noted; and
 

(3)           
the progress towards the Savings Target to be achieved for the
budget setting for 2026/27 (as set out in section 7) be noted;