Decision Maker: Cabinet

Outcome: Recommmend Forward to Council

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 10, 2026

Purpose:

Content: Cabinet reviewed and RESOLVED to recommend to Council for approval: 1.     The draft 2026/27 revenue budget as set out in Appendix A, which includes a proposed Council Tax increase of 4.99% in 2026/27. 2.     The Medium-Term Financial Strategy funding and expenditure assumptions as set out in Appendix A. 3.     The reserves forecast and the Section 25 Robustness Statement in Appendix B, which sets out the statutory advice from the Chief Finance Officer on robustness of budget estimates and adequacy of reserves, and makes clear the reliance placed on the approval of the Exceptional Financial Support request made to MHCLG. 4.     The broadening remit of the Innovation Fund Reserve to include costs associated with implementing Local Government Reorganisation, as set out in Appendix B and D. 5.     The proposal to incorporate Local Government Reorganisation consideration into the decision-making process via the revised committee report templates. 6.     The financial risks as set out in Appendix C. 7.     The updated Reserves Strategy & Policy as set out in Appendix D. 8.     The Treasury Management Strategy in Appendix E which has the fundamental roles of managing external investments, ensuring that debt is prudent and economic, outlining the Prudential Indicators and ensuring that decisions comply with regulations. 9.     The revised capital programme covering the years 2025/26- 2028/29 as set out in the Capital Strategy in Appendix F. 10. Asset Management Plan as set out in Appendix G, which sets out principles for managing the Councils assets in the most efficient and effective manner, lists the assets under consideration for disposal and the framework for identifying, assessing and approving land and property disposals. 11. The Sales, Fees and Charges policy and schedule for 2026/27 as set out in Appendix H and Appendix I. 12. Flexible Use of Capital Receipts Policy, for 2025/26 (updated) and 2026/27 Appendix J, which proposes to use up to a total of £5.4m of capital receipts to fund eligible expenditure. 13. The Budget Virement Policy set out in Appendix K. 14. Dedicated Schools Grant and the Schools Budget 2026/27 Appendix L. 15. The NNDR Discretionary Rate Relief Policy Appendix M which sets out the framework for awarding Discretionary Rate Relief to businesses. 16. The refreshed Corporate Strategy Appendix N. 17. The Council Tax Resolution, as outlined in Appendix O, formally sets the council tax levels for the financial year 2026/27. 18. The delegation of authority to the Executive Director of Corporate Resources and the Executive Director of Place and Economy to implement changes to service level budgets, in accordance with virement policy rules, to reflect the insourcing of Peterborough Limited and City College. These adjustments are solely intended to reflect budget restructuring and will result in a net nil impact on the overall budget position.