Decision details

1.To thank scrutiny commissions for taking time to consider and comment on the draft budget.

2. To recommend to Council the following:

(a)       approve the three year budget strategy described in this report;

(b)       approve the proposed budget and council tax for 2026/27, including the recommendations in the formal budget resolution circulated separately;

(c)        that £2m is transferred from the budget strategy reserve to an earmarked reserve to support the Council-owned Adventure Playgrounds in the City. The funding will be provided as capital and revenue therefore it is proposed to add up to a maximum of £2m to the capital programme to be funded from this earmarked reserve.

(d)       approve the transfers from the budget strategy reserve as set out in paragraph 8.3 of this report;

(e)       approve the budget ceilings for each service shown at Appendix 1 to this report;

(f)        approve the scheme of virement described in Appendix 2 to this report;

(g)       note the Director of Finance’s view on the adequacy of reserves and the estimates used in preparing the budget;

(h)       note the equality implications arising from the proposed tax increase, as described in paragraph 14 and Appendix 3;

(i)         note the medium-term financial strategy and forecasts presented at Appendix 4, and the financial challenges ahead;

(j)         note the earmarked reserves position set out at Appendix 5;

(k)        note the policy on council tax premiums and discounts set out at Appendix 6;

(l)         note that the impact of the Council Tax Support Scheme has been reviewed by the Executive, and reported to OSC, during the year;

(m)      approve the inflationary increase to Council Tax Support Scheme thresholds as shown at Appendix 7 and approve further inflationary increases in future years (to be calculated with reference to published CPI inflation for the September prior to the start of the year in question);

(n)       approve the capital receipts flexibility policy at Appendix 8.

The revenue budget forms part of the budget and policy framework.  Its approval is the responsibility of the full Council. The City Mayor is responsible for the preparation of a proposal for Council consideration.

A draft budget was published on 9th December 2025.  The budget was considered by a number of scrutiny commissions, whose comments were considered by Overview Select Committee on 2nd February.  Minutes of the commissions and Overview Select Committee have been circulated to Council members.

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