Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 25, 2026

Purpose:

Content: Having been duly proposed and seconded, the Executive Resolved that having considered the 2026/27 budget and 2026/27-2029/30 MTFP, the Executive had due regard for:- a)    The advice of the Council’s Interim Chief Finance Officer (Section 151 Officer) in this Section 25 report in relation to the robustness of the budget estimates and the adequacy of the level of Reserves for 2026/27, as required by Section 25 of the Local Government Act 2003. b)    The Section 151 Officer’s warning about the deeply fragile financial position of the Council, the use of one-off resources and £25.000m EFS to close the 2026/27 budget gap, The high risks associated with DSG funding, inadequate general reserves, and the lack of financial sustainability over the period 2027/28 to 2030/31 with a budget gap increasing to £88.368m by 2031. c)    The vital importance of bringing core service pressures and spending under greater control without delay and of accelerating the scope and pace of the transformation programme. d)    The importance of raising the General Reserves to the appropriate level of 10% of the Net Revenue budget (before Exceptional Financial Support (EFS) and Reserves) which was £74.251m for 2026/27. The current level of General Fund Balance was to be set at £63.200m for 2026/27. e)    The responsibility of Council Members under Section 31A of the Local Government Finance Act 1992, to have regard to this report when making decisions on agreeing the Budget and setting the Council Tax for the financial year 2026/27.