Decision Maker: Cabinet, Council

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 24, 2026

Purpose:

Content: *RESOLVED –   That it be recommended to Full Council:   1.   That the Period 9 forecast outturn for 2025/26, which presents a surplus for the year of £774k (paragraph 4.16 of the officer’s report), be noted.   2.   That the overall revenue budget for 2026/27 (Table 14 of the officer’s report), be approved.   3.   That the use of £273k from the Budget Risk Reserve to balance the 2026/27 budget (paragraph 4.89 of the officer’s report), be approved.   4.   That the transfer of £145k to the Service Improvement reserve from the Budget Risk reserve to ensure £500k resources are available for potential investment in ICT improvements (paragraph 4.103 of the officer’s report), be approved.   5.   That the approach to be taken with regard to ICT investments be approved and authority be delegated for approving project spend and any associated use of the Service Improvement reserve to the Chief Executive, in consultation with the Leader of the Council, Deputy Leader and Cabinet Member for Finance and Asset Management and Director of Finance (CFO) (paragraph 4.79 of the officer’s report).   6.   That the submission of a proposal to employ flexible use of capital receipts in the financial years 2025/26 and 2026/27 be approved and authority be delegated for the amendment and final approval of the proposal to the Director of Finance (CFO), in consultation with the Deputy Leader and Cabinet Member for Finance and Asset Management (paragraph 4.122 of the officer’s report).   7.   That the Flexible Use of Capital Receipts Strategy revised 2025/26 and 2026/27 (Appendix C to the officer’s report), be approved.   8.   That the 2026/27 Council Tax Requirement and financing (Appendices D and E to the officer’s report), be approved.   9.   That the Council’s share of Council Tax for properties in each band be increased, a 2.99% increase for a Band ‘D’ property, in 2026/27 to £202.39 (paragraph 4.50 of the officer’s report).   10. That the Local Council Tax Support Scheme, which remains unchanged for 2026/27 (paragraph 4.53 of the officer’s report), be approved.   11.That the Collection Fund and the Tax Base forecast (paragraphs 4.44, 4.52 and 4.49 of the officer’s report), be noted.   12. That the financial projections in the Medium-Term Financial Plan (MTFP) for 2026/27 to 2028/29 (Table 14 in the officer’s report), and the implications for the next budget process be noted.   13. That the estimates of reserves including maintaining the General Working Balance at £1.5m (paragraph 4.100 of the officer’s report), be approved.   14.  That the budget risks and sensitivity analysis (Appendix B to the officer’s report), and the Chief Finance Officer’s assurances (paragraphs 4.104 – 4.119 of the officer’s report), be noted.   15. That authority be delegated to the Director of Finance (CFO), in consultation with the Deputy Leader and Cabinet Member for Finance and Asset Management, to finalise the detailed 2026/27 budgets for publication (paragraph 4.94 and Appendix A to the officer’s report).   16. That the acceptance of £150k grant funding from East Midlands Combined County Authority to support delivery of East Midlands Investment Zone sites (paragraph 4.48 of the officer’s report), be approved.   REASON FOR DECISIONS   For the Council to meet the statutory requirements relating to setting the General Fund revenue budget and the level of Council Tax for 2026/27.