The Group Finance Director submitted a report to propose a Medium-Term Financial Strategy and the 2026/27 Budget for consultation.

Cabinet is recommended to:

1.    Approve the 2026-27 General Fund and Housing Revenue Account budgets for consultation and the General Fund and Housing Revenue Account Medium Term Financial Strategy as set out in Appendices 1-10, noting:

a.    The Council’s General Fund Budget Requirement of £30.945 million for   2026/27 and an increase in the Band D Council Tax of 2.99% or £10.67 per annum representing a Band D Council Tax of £367.38 per annum assuming it is confirmed that the authority is able to do so.    

b.    The Housing Revenue Account budget for 2026/27 of £68.2 million and an increase of 4.8% .(average of £8.47 per week) in social dwelling rents from 1 April 2026 (see paragraphs 90-92) giving a revised weekly average social rent of £143.40 as set out in Appendix 5. 

c.     The increase in shared ownership rental in accordance with the lease as shown in paragraph 93-94 

d.    The General Fund and Housing Revenue Account Capital Programme as shown in Appendix 6. 

2.    Agree the fees and charges shown in Appendix 7  

3.    Delegate to the Section 151 Officer in consultation with the Board Member for Finance and Assets the decision to determine whether it is financially advantageous for the Council to enter into a Business Rates Distribution Agreement as referred to in paragraphs 29-30 of the report.