The Coalville Special Expenses Working Party met on Tuesday, 2 December 2025, to review the 2025/26 finance update and discuss the draft budget for 2026/27. The meeting noted a forecast surplus for the current financial year and reviewed proposed budget allocations for the upcoming year, including planned preventative maintenance and potential Council Tax increases.

Coalville Special Expenses Finance Update – 2025/26 Quarter 2

Anna Crouch, Head of Finance, presented the finance update for the second quarter of the 2025/26 financial year. The report indicated a forecasted net revenue expenditure of £541,000 against a funding of £575,000, resulting in a projected surplus of £34,000. This surplus is to be transferred to the Coalville Special Expenses Reserves. The report also detailed that the Coalville Special Expenses Earmarked Reserves, standing at £97,000 at the start of the financial year, had £12,300 spent to date. The overall forecast for the reserves at the end of the 2025/26 financial year is £81,000. The report was noted by the Working Party.

Coalville Special Expenses Draft Budget 2026/27

The Working Party reviewed the draft budget for Coalville Special Expenses for the 2026/27 financial year. The report highlighted the need to review the Coalville Special Expenses precept annually to ensure sufficient funding for future expenditure. An estimated increase of 103 Band D properties was included in the draft budget, based on historical trends, which will be updated before presentation to the Corporate Scrutiny Committee and Cabinet.

The draft budget includes a three-year Planned and Preventative Maintenance (PPM) programme. The net cost of services is projected to increase by £44,650 from £544,050 in 2025/26 to £588,700 in 2026/27. Key movements include savings from proposed leases at Melrose and Scotlands bowls clubs, inflationary increases to grounds maintenance and internal recharges, and an increase in PPM budgets.

The proposed PPM budget for 2026/27 is £84,380, covering works such as public conveniences painting, tree works, path repairs, and play equipment replacement across various sites including Coalville Park, Broomley's Cemetery, and several play areas.

Financially, the budget is proposed to be balanced with a contribution of £542 to reserves. The forecasted reserves position at the end of March 2027 is £81,705, representing approximately 16% of recurring expenditure. However, the report also indicated that the indicative budgets for 2027/28 and 2028/29 are currently unbalanced, necessitating the identification of substantial savings to ensure future budgets are balanced and the sustainability of the PPM programme is addressed.

A proposed increase in the Council Tax for Coalville Special Expenses of £0.81 to £82.01 per annum for a Band D equivalent property was outlined. The budget approval process involves review by the Coalville Special Expenses Working Party, Corporate Scrutiny Committee, Cabinet, and finally, the Council. The Working Party was asked to provide comments on the draft budget for consideration by Cabinet.