Agenda item

To receive and consider the report of the Responsible Financial Officer (RFO) and the Draft Revised Revenue Budget for 2025/26 and Draft Budget for 2026/27.

The Committee received and considered the report of the Responsible Financial Officer (RFO) detailing income and expenditure for budgets which were the responsibility of the committee.

The RFO provided additional verbal commentary to the points outlined in his report and responded to Members’ questions regarding his thoughts ahead of the Chancellor’s budget announcement on the changes to Retail, Hospitality and Leisure Relief Scheme.

He also advised Members that following discussions held since writing his report that the cost of insurance was likely to increase more significantly, as much as 40%, citing a number of reasons given by insurers. The Committee were reminded that the councils insurance policy was agreed on a Long-Term Agreement, details of the new premium would not be known until January 2026 at the earliest as insurers were reluctant to agree this more than three months ahead of the renewal date.

The agreement of the draft revised base revenue budget for 2025/26 and the estimated base revenue budgets for 2026/27 was proposed by Councillor D Temple and agreed by members unanimously.

Recommended:

1.      That, the report and verbal updates be noted.

2.      That, the draft revised base revenue budget for 2025/26 and the estimated base revenue budgets for 2026/27, as detailed be approved.