Decision

 

1.     
That the assumptions set out in respect of
Government funding, council tax, inflation rates and fees and
charges (set out in full in section 13 of report CAB3522) and the
projections set out in Appendix 1 of the report be
noted.

2.     
That the Medium-Term Financial Strategy be approved
as set out in sections 13 to 17 of the report. 

3.     
That the following one-off revenue budget growth
requests be approved;

           
i.      
An additional £0.3m revenue budget, funded by
the transitional reserve, towards the Community Governance
Review.

         
ii.       
A revenue budget of £2.280m, funded by the
transitional reserve, towards the Local Government
Review.

        
iii.      
A revenue budget of £0.03m in 2025/26, to be
funded by higher than budgeted Parking income, towards additional
Parking Enforcement overtime costs.

        
iv.      
A revenue budget of £0.05m in 2025/26, funded
by the property reserve, for fees to design and plan works to the
Guildhall.
4.     
That a detailed budget be prepared for consideration
by Council in February 2026 based on the assumptions set out in
this MTFS; final spending review announcements; and including the
following options shown in Appendix 2 and Section 14 of the
report:
 

a.        
That, in relation to services:

                            
i.   
Forecast increase in utility costs of £0.15m
per annum.

                           
ii.    
Forecast annual savings of £0.3m per annum due
to a reduction in the employer’s pension scheme contribution
from 18.0% to 15.9%.

                          
iii.   
An additional baseline £0.115m revenue budget
for the permanent recruitment of a Corporate Head of
Resources.

b.        
That, in relation to other annual
budgets:

                            
i.   
Forecast increase in democratic costs of
£0.085m

                           
ii.    
Increase in garage maintenance budgets of
£0.120m per annum.

c.         
In relation to management of the council’s
property assets:

                            
i.   
An additional £400,000 per annum be set aside
into the Property Reserve for the maintenance of and investment in
operational assets.

                           
ii.    
An additional £100,000 per annum baseline
revenue budget, for new requirements highlighted by the latest
Asset Management plan and uplifts to existing maintenance
budgets.

5.     
That the following regarding Car Parking fees from
October 2026 be approved:

a.     
Freeze on park and walk and market town car park
fees

b.     
CPI increase to all central parking and overnight
charges, generating an additional £150,000 per annum
(£85,000 in 2026/27)

6.     
That a capital budget of £100,000 be approved,
funded by the Homelessness risk reserve, for the conversion of
Stable Yard, to the rear of 59 Colebrook St, for temporary
accommodation. This is subject to a business case and subsequent
approval of expenditure under Financial Procedure Rule
7.4.