Issue - meetings

Report of Assistant Director Finance (Section 151 Officer)

Purpose of report

To consider and agree the Budget Setting for 2026/27 and MTFS 2030/31 as per the recommendations.

Recommendations

Council resolves to:

1.1         Have regard to the statutory report of the Chief Finance Officer (Section 25 report) at Appendix 3 in approving recommendations 1.2 – 1.10. 

1.2         Approve the proposed Fees and Charges schedule for 2026/27 (Appendix 7) and statutory notices be placed where required.

1.3         Consider and note the Equality Impact Assessments of the Budget (Appendix 8)

1.4         In relation to the Corporate Plan (Section 4.1) to:

1.4.1    Note the Corporate Plan Vision and Strategy set out in Appendix 1.

1.4.2    Approve the Annual Delivery Plan set out in Appendix 2.

1.5         In relation to the Revenue Budget Strategy (Section 4.2) and Medium-Term Financial Strategy (MTFS) (Section 4.6) to approve:

1.5.1    The net revenue budget for the financial year commencing on 1 April 2026, as set out in Table 4.2.1, and further analysed in the Budget Book provided at Appendix 12.

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

1.6         In relation to Council Tax (Section 4.2.51) to approve:

1.6.1    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.

1.6.2    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.

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

1.6.4    That relevant exceptions be applied as set out by Government guidance (Appendix 24).

1.6.5    It be noted that the Council Tax Base 2026/27 was determined at the Executive meeting held on 6 January 2026:

a)            for the whole Council area as 60,654.5 [item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended (“the 1992 Act”)]; and

b)            For dwellings in those parts of its area to which a Parish Precept relates as in the attached Appendix 23.

1.6.6    That the Council Tax requirement for the Council’s own purposes for 2026/27 (excluding Parish Precepts and Special Expenses) is £9,917,011.

1.6.7    following amounts be calculated for the year 2026/27 in accordance with Sections 31 to 36 of the 1992 Act:

a)            £162,009,253 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A (2) of the 1992 Act, taking into account all precepts issued to it by Parish Councils and any additional special expenses.

b)            £145,153,645 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A (3) of the  ...  view the full agenda text for item 67

Resolved

(1)          That, having due regard, the statutory report of the Chief Finance Officer (Section 25 report) be noted.

(2)          That the proposed Fees and Charges schedule for 2026/27 be approved and it be noted that statutory notices would be placed where required.

(3)          That, having given due consideration, the Equality Impact Assessments of the Budget be noted.

(4)          That the Corporate Plan Vision and Strategy be noted.

(5)          That the Annual Delivery Plan be approved.

(6)          That, in relation to the Revenue Budget Strategy and Medium-Term Financial Strategy (MTFS), the following net directorate revenue budgets for the financial year commencing on 1 April 2026 be agreed.

(7)          That the Medium Term Financial Strategy and Revenue Budget 2026/27, including the Savings Proposals and Investments be approved.

(8)          That 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, be approved.

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

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

(11)       That it be approved that relevant exceptions be applied as set out by Government guidance (Appendix 24 to the report).

(12)       That it be noted that that the Council Tax Base 2026/27 was determined at the Executive meeting held on 6 January 2026:

a)            for the whole Council area as 60,654.5 [item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended (“the 1992 Act”)].

b)            For dwellings in those parts of its area to which a Parish Precept relates (Appendix 23 to the report).

(13)       That it be agreed that the Council Tax requirement for the Council’s own purposes for 2026/27 (excluding Parish Precepts and Special Expenses) is £9,917,011.

(14)       That the following amounts be calculated for the year 2026/27 in accordance with Sections 31 to 36 of the 1992 Act:

a)            £162,009,253 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A (2) of the 1992 Act, taking into account all precepts issued to it by Parish Councils and any additional special expenses.

b)            £145,153,645 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A (3) of the 1992 Act.

c)            £16,855,608 being the amount by which the aggregate at 3(a) above exceeds the aggregate at 3(b) above, calculated by  ...  view the full decision text for item 67

Prior to consideration of the item, the Chair advised that the Cherwell Conservative and Independent Alliance had proposed an amendment to the budget which had been published as a supplement to the agenda. There were no amendments proposed by any other Political Group and no further amendments were now permitted.

The Chair explained that once the budget had been proposed and seconded, the Leader of the Cherwell Conservative and Independent Alliance, Councillor Reeves, would respond to the budget and propose the Group’s amendment. Once seconded, the amendment would be debated and voted on.

The Chair reminded Members that the arrangements for debating the budget were set out in the meeting procedure rules. The proposer, when presenting the budget, and Group Leaders, when responding to the budget, may speak for up to 10 minutes. All other speakers had a three-minute time limit. 

The Chair also reminded Members that it was required in legislation that the vote on any motion on or amendment to the budget and council tax setting reports must be a recorded vote. This would be taken at the appropriate time.

The Assistant Director of Finance (Section 151 Officer) submitted a report for Council to consider and agree the Budget Setting for 2026/27 and MTFS 2030/31.

In introducing the report, the Portfolio Holder for Finance, Property and Regeneration, Councillor McLean, explained that the report was the culmination of the Budget and Business Planning process for 2026/27 to 2030/31 and set out the Executive’s proposed Corporate Plan and related revenue budget for 2026/27, medium term financial strategy to 2030/31, capital programme to 2030/31 and all supporting policies, strategies, and information which had been recommended to Council by Executive at their 3 February 2026 meeting.

The proposed net budget for the council was £32.3m, an increase of £6.1m from 2025/26. The council planned to fund £1.9m of service investments and would set aside £1.3m of Development Funds for Strategic Development (£0.4m) and Local Area Development (£0.9m). The council would also deliver £2.3m of savings proposals and operational efficiencies as part of the 2026/27 budget.  A Band D Council Tax of £163.50 was proposed for the year which is an increase of £5 compared to 2025/26. The Capital Programme for the period 2026/27 – 2030/31 was proposed to be £31.6m. 

The Portfolio Holder for Finance, Property and Regeneration thanked to Budget Planning Committee for their review of the the revenue budget savings proposals, service investments, capital bids and fees and charges and subsequent comments and the Accounts, Audit and Risk Committee for considering and recommending the Capital and Investment and Treasury Management Strategies.

The Portfolio Holder for Finance, Property and Regeneration also thanked all respondents to the public consultation. In finalising the proposals, the Executive has taken into consideration feedback from the public consultation on the proposed Vision and Strategy, capital and revenue budget proposals and Council Tax increase.

The Portfolio Holder for Finance, Property and Regeneration, Councillor McLean, paid tribute to the Assistant Director of Finance and the finance team for  ...  view the full minutes text for item 67

(Please note appendix 3 is not used for this report)

Report of Assistant Director Finance (Section 151 Officer)

Purpose of report

To consider and recommend the Budget Setting for 2026/27 and MTFS 2030/31 as per the recommendations.

Recommendations

The Executive resolves to:

1.1           Recommend this budget proposal to Council, and in doing so note the summary of consultation responses in Appendix 10.

1.2           Delegate authority to the Section 151 Officer (S151), following consultation with the Leader of the Council and Portfolio Member 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.

1.3           Delegate authority to the S151, following consultation with the Leader of the Council and Portfolio Member for Finance, Regeneration and Property to make appropriate changes to the proposed budget to Council including policies and plans.

The Executive resolves to recommend to Council as follows:

1.4           Approve the proposed Fees and Charges schedule for 2026/27 (Appendix 7) and statutory notices be placed where required.

1.5           Consider and note the Equality Impact Assessments of the Budget (Appendix 8)

1.6           In relation to the Corporate Plan (Section 4.1) to:

1.6.1     Note the Corporate Plan Vision and Strategy set out in Appendix 1.

1.6.2     Approve the Annual Delivery Plan set out in Appendix 2.

1.7           In relation to the Revenue Budget Strategy (Section 4.2) and Medium-Term Financial Strategy (MTFS) (Section 4.6) to approve:

1.7.1     The net revenue budget for the financial year commencing on 1 April 2026, as set out in Table 4.2.1, and further analysed in the Budget Book provided at Appendix 12.

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

1.8           In relation to Council Tax (Section 4.2.49) to approve:

1.8.1     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.

1.8.2     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.

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

1.8.4     That relevant exceptions be applied as set out by Government guidance (Appendix 22).

1.9           In relation to the Capital Programme and related strategies (Section 4.3) to approve:

1.9.1     The Capital Bid(s) and Capital Programme at Appendices 17 and 18 respectively.

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

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

1.10       In relation to reserves (Section 4.4), to approve:

1.10.1  A minimum level of  ...  view the full agenda text for item 99

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  ...  view the full decision text for item 99

The Assistant Director Finance (Section 151 Officer) submitted a report to consider and recommend the Budget Setting for 2026/27 and Medium Term Financial Strategy (MTFS) 2030/31.

In introducing the report, the Portfolio Holder for Finance, Regeneration and Property advised that the proposed net budget of the Council was £32.3 million, an increase of £6.1 million from 2025/2026. It was planned to fund £1.9 million of service improvements and £1.3 millions of development funds would be set aside for strategic development and local area development. £2.3 million of savings proposals and operational efficiencies would be delivered as well as a capital programme of £31.6 million, of which £17.9 million was expected to be spent in 2026/20271, including significant investment in homeless provision.

Over the last two years, there had been significant engagement with the Government on the potential impacts of the fair funding review and the business rates reset which could have had a detrimental effect for Cherwell. The Government's provisional financial settlement resulted in the council receiving £4.4 million additional funding in 2026/2027 compared to what it had anticipated it would receive at the time of the public consultation on the budget.

The Portfolio Holder for Finance, Regeneration and Property confirmed that, in addition to the balanced budget for 2026/2027, as legally required, based on current estimates, including growth in business rates and council tax, there would be a balanced budget over the next three years. 

In seconding the report, the Chair thanked all respondents to the public consultation for their comments and feedback, which had been taken in consideration when setting the budget.

Councillor Watkins, Leader of the Labour Group, addressed the meeting commenting that she was pleased and appreciated that Executive had considered and acted upon the consultation feedback in respect of proposed changes to the funding of Banbury Museum.

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  ...  view the full minutes text for item 99