Decision details

To consider the Budget Setting and Corporate Plan for 2026/2027 and MTFS 2030/2031

Resolved

(1)            That the budget proposal be recommended to Council, and the summary of consultation responses be noted.

(2)            That authority be delegated to the Section 151 Officer (S151), following consultation with the Leader of the Council and Portfolio Holder for Finance, Regeneration and Property to complete the legal Council Tax calculations once all the information required has been received and submit as appendices to the budget report to Council.

(3)            That authority be delegated to the S151, following consultation with the Leader of the Council and Portfolio Holder for Finance, Regeneration and Property to make appropriate changes to the proposed budget to Council including policies and plans.

(4)            That Council be recommended to approve the proposed Fees and Charges schedule for 2026/27 (Appendix 7 to the report) and statutory notices be placed where required.

(5)            That Council be recommended to consider and note the Equality Impact Assessments of the Budget (Appendix 8 to the report).

(6)            That Council be recommended to note the Corporate Plan Vision and Strategy (Appendix 1 to the report).

(7)            That Council be recommended to approve the Annual Delivery Plan (Appendix 2 to the report).

(8)            That, in relation to the Revenue Budget Strategy (Section 4.2 of the report) and Medium-Term Financial Strategy (MTFS) (Section 4.6 of the report), Council be recommended to approve:

                       i.          The net revenue budget for the financial year commencing on 1 April 2026 (Table 4.2.1 of the report) and further analysed in the Budget Book (Appendix 12 to the report).

                     ii.          The MTFS and Revenue Budget 2026/27 (Sections 4.6 and 4.2 respectively of the report), including the Savings Proposals and Investments included at Appendices 4 and 5 respectively.

(9)            That, in relation to Council Tax (Section 4.2.49 of the report), Council be recommended to approve:

                     i.            An increase in the Basic Amount of Council Tax for Cherwell District Council for the financial year beginning on 1 April 2026 of £5, resulting in a Band D charge of £163.50 per annum.

                   ii.            From 1 April 2027 the implementation of a premium (second homes premium) of 100% for dwellings that are no one’s sole or main residence and are substantially furnished, following consultation undertaken in November and December 2024 which showed 88% support for the introduction.

                  iii.            That the mandatory notice of 12 months to all owners of second homes that a premium will commence from 1 April 2027 be issued.

                 iv.             That relevant exceptions be applied as set out by Government guidance (Appendix 22 to the report).

(10)        That, in relation to the Capital Programme and related strategies (Section 4.3 of the report), Council be recommended to approve:

                     i.            The Capital Bid(s) and Capital Programme at Appendices 17 and 18 of the report respectively.

                   ii.            The Capital and Investment Strategy 2026/27 (Appendix 19 to the report), including the Minimum Revenue Provision (MRP) Policy.

                  iii.            The Treasury Management Strategy, including the Prudential Indicators, and Affordable Borrowing Limit for 2026/27 (Appendix 21 the report).

(11)        That, in relation to reserves (Section 4.4 of the report), Council be recommended to approve:

                     i.            A minimum level of General Balances of £8.011m as supported by Appendix 15 of the report.

                   ii.            The Reserves Policy (Appendix 14 of the report).

                  iii.            The medium-term reserves plan described in Appendix 16 of the report.

(12)        That Council be recommended to approve The Pay Policy Statement, as required by the Localism Act 2010, detailed in Appendix 9 to the report.

(13)        That, in relation to the Pension Fund (Section 4.5 of the report), Council be recommended to approve a pension fund prepayment for the years 2026/27 – 2028/29 of £5.028m.