The Stevenage Borough Council cabinet met to discuss the Medium Term Financial Strategy, the financial monitoring report, treasury management, corporate performance, the revocation of a taxi rank, and the Grenfell Inquiry. The cabinet approved a net decrease of £548,850 in General Fund expenditure, a net decrease of £35,540 in Housing Revenue Account (HRA) expenditure, and the re-phasing of £9 million from the General Fund and £9 million from the HRA capital budgets to future years. They also approved the revocation of the taxi rank on Danestrete, and acknowledged the work being done to strengthen the council's resilience in response to the Grenfell Inquiry.

Here's a breakdown of the key discussion topics:

• General Fund Medium Term Financial Strategy (MTFS) Update 2025/26 - 2029/30
• First Quarter Revenue and Capital Monitoring Report 2025/26 - General Fund and HRA
• Grenfell Inquiry Phase 2 Update Report
• Local Government (Miscellaneous Provisions) Act 1976 – Revocation of Taxi Rank, Danestrete, Stevenage
• Corporate Performance Quarter One 2025/26
• Annual Treasury Management Review 2024/25 and Prudential Indicators
• Approval of Contract Award to Deliver Warm Homes: Social Housing Fund Wave 3 Works
• Minutes of the Overview and Scrutiny and Select Committees

General Fund Medium Term Financial Strategy (MTFS) Update 2025/26 - 2029/30

The cabinet re-approved the MTFS principles and agreed to set council tax increases at the threshold assumed by the government in the Fair Funding consultation. They also approved updated inflation assumptions and noted the impact of Fair Funding grant funding. The MTFS principles, as outlined in paragraph 3.10 of the General Fund Medium Term Financial Strategy Update 2025/26 - 2029/30, include:

• Ensuring the financial resilience of the General Fund.
• Considering support for the community, tenants, leaseholders and businesses in times of hardship.
• Using the council's reserves in a cost-efficient and planned manner.
• Maximising the council's income and minimising arrears and debt write-offs.
• Identifying alternative means of resourcing the Capital Strategy to minimise borrowing.
• Including a percentage for overruns, specific known risks, loss of savings and risks associated with new ventures and the cost of borrowing for the capital programme in setting General Fund balances.
• Identifying variations to the approved budget via quarterly monitoring.
• Proposing council tax increases in line with government thresholds for modelling purposes.
• Ensuring resources are aligned with the council's Strategic Plan and FTFC priorities.
• Ensuring the council does not depend upon short term sources of funding.

The cabinet approved balancing the budget options of £776,000 (excluding fees and charges estimates) to be presented to the October 2025 cabinet and General Purposes Committee, and a balancing the budget target of £2.284 million for the period 2026/27-2029/30. Indicative General Fund borrowing costs for the Oval were approved and included in the MTFS, as was additional funding for the Queensway LLP of £50,000 per year, and £150,000 per year to support the council's apprentice programme. A General Fund growth allowance of £75,000 was noted and approved for the use of the council's FTFC priorities, and a minimum level of balances for the General Fund of £3.57 million was approved for 2026/27.

The report also noted that officers advised that although the provisional settlement would not be known until mid-December, when the Fair Funding reforms took effect, there would be the opportunity to include some one off revenue or capital growth once known, and future years savings targets were now projected to be much lower than in recent years.

The cabinet agreed that trade unions and staff should be consulted on the key messages contained within the MTFS, particularly where there is a risk of redundancy.

First Quarter Revenue and Capital Monitoring Report 2025/26 - General Fund and HRA

The cabinet approved a projected net decrease in General Fund expenditure of £548,850 and noted the proposed movement on reserves. A projected net decrease in HRA expenditure of £35,540 was also approved. The cabinet approved the General Fund and HRA capital budget re-phasing of £9 million from 2025/26 to future years, and noted net changes to budgets fully grant funded of (£5,000). General Fund and HRA virements¹ in section 4.10 of the First Quarter Revenue and Capital Monitoring Report 2025/26 - General Fund and HRA were approved, as were the proposed changes to the funding of the General Fund and HRA capital budgets in section 4.11 of the report.

Grenfell Inquiry Phase 2 Update Report

The cabinet acknowledged the action being taken by the council to strengthen its resilience position, including working in partnership with other Hertfordshire local authorities and other Category One Responders to ensure that emergency and business continuity plans across the county are current and robust. They also approved a comprehensive review of reception centres and support for individuals that may be impacted by local incidents, which will incorporate the introduction of digital processes to improve information capture and situational awareness, and explore ways to strengthen regional coordination during emergencies.

The Portfolio Holder for Housing advised that the council was doing all it could to keep residents safe, to make sure lessons were learned and that safety was always paramount, and that the council had been actively working with the Hertfordshire Local Resilience Forum and other local authorities to implement the ten new emergency planning recommendations.

Local Government (Miscellaneous Provisions) Act 1976 – Revocation of Taxi Rank, Danestrete, Stevenage

The cabinet approved the revocation of the taxi rank in Danestrete, to facilitate the safe continuation of the SG1 regeneration scheme by repositioning the existing hoarding line to the kerb edge, allowing necessary scaffolding access and additional working space. They noted that officers are looking at the potential for relocating the taxi rank to another site within the town centre.

Officers advised they would keep members updated on the safety measures being put in place, and that the proposal would also ensure the safety of pedestrians and maintain access in and around Westgate by installing a temporary walkway.

Corporate Performance Quarter One 2025/26

The cabinet noted the service performance against 53 corporate performance measures and progress of key projects in Quarter 1 2025/26 through the Making Stevenage Even Better Programme, as well as the issues with the Repairs fixed first time measure, the work to create a new suite of Damp & Mould measures to support the introduction of AWAAB’s law, the Regulator of Social Housing Provider Improvement Plan (PIP), and the strategic risk updates. The revised Risk Management Policy was also noted, with formal approval to be given by the Chief Executive and the Portfolio Holder following consideration of any further comments from cabinet.

The Chief Executive gave a presentation including updates in relation to delivery against Corporate Plan Priorities and the key themes emerging from the Quarter 1 performance data.

Members gave thanks to all officers who had contributed to the much improved performance ratings, welcomed the improvement in the performance of the Repairs Team, were pleased to hear of the improved performance for both the Planning Service and the Customer Service Centre, paid tribute to the former Portfolio Holder responsible for Culture, Leisure and Arts, Councillor Rossati, for the work on the Arts and Heritage Trail, and noted the positive figures included in the Tenant Satisfaction measures.

Annual Treasury Management Review 2024/25 and Prudential Indicators

The cabinet recommended the 2024/25 Annual Treasury Management Review to council for approval. Members were advised that the council had successfully delivered its treasury management responsibilities for 2024/25, operating within all approved prudential indicators and maintaining compliance with statutory and regulatory requirements.

Members were also advised that all treasury activities had been conducted in line with the council’s Treasury Management Strategy, with no breaches of authorised borrowing limits, and that the council remained well-positioned to manage interest rate risks and support its capital and revenue plans sustainably.

Approval of Contract Award to Deliver Warm Homes: Social Housing Fund Wave 3 Works

The cabinet approved the award of a new contract for the completion of energy efficiency and decarbonisation works to the council's housing stock.

Minutes of the Overview and Scrutiny and Select Committees

The cabinet noted the minutes of the Overview and Scrutiny and Select Committee meetings, including the Environment and Economy Select Committee's receipt of the formal cabinet response from the Portfolio Holder with responsibility for Skills into the local skills agenda, the Community Select Committee's work programme, and the Overview and Scrutiny Committee's scrutiny of the cabinet’s decisions including Housing Health and Safety Requirements, Corporate Performance and Flat Block Recycling Improvements.