Decision details

Draft 25/26 Budget Update

Decision Maker: Executive Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

That Members agree the contents of this report in order to start the budget consultation process as follows:

·         A proposed 2.99% increase in council tax in 2025/26;

·         A forecast balanced budget for 2025/26 (based on a 2.99% increase in council tax, as noted above);

·         A forecast budget shortfall for 2026/27 of £1.932mill, to be addressed through the development and delivery of the council’s Fit for the Future transformation programme, although it is acknowledged that a significant level of uncertainty prevails around this figure following publication of the ‘Local Authority Funding Reform: Objectives and Principles’ consultation paper, which outlines the government’s intent to redistribute funding through a fair funding review and business rates reset;

·         To note the proposals in the report for investment in the Administration’s priority areas.

Report author: Neil Halton

Publication date: 23/01/2025

Date of decision: 23/01/2025

Decided at meeting: 23/01/2025 - Executive Cabinet

Effective from: 01/02/2025

Accompanying Documents: