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.
|
Directorate |
Net budget 2026/27 |
|
Chief Executive’s Office |
2.402 |
|
Resources |
9.978 |
|
Neighbourhood Services |
8.888 |
|
Place and Regeneration |
0.865 |
|
Service Sub-total |
22.133 |
|
Corporate Costs |
6.655 |
|
Policy Contingency |
2.179 |
|
Development Funds |
1.300 |
|
Net Cost of Services |
32.267 |
(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 the Council, in accordance with Section 31A (4) of the 1992 Act, as its Council Tax requirement for the year (Item R in the formula in Section 31B of the 1992 Act).
d) £277.90 being the amount at 3(c) above (Item R), all divided by Item T (1(a) above), calculated by the Council, in accordance with Section 31B of the 1992 Act, as the basic amount of its Council Tax for the year (including Parish Precepts and Special Expenses).
e) £6,938,598 being the aggregate amount of all special items (Parish Precepts and Special Expenses) referred to in Section 34(1) of the 1992 Act as per the attached Appendix 23.
f) £163.50 being the amount at 3(d) above less the result given by dividing the amount at 3(e) above by Item T(1(a) above), calculated by the Council, in accordance with Section 34(2) of the 1992 Act, as the basic amount of its Council Tax for the year for dwellings in those parts of its area to which no Parish Precept or special item relates.
(15) That it be noted that for the year 2026/27 the Oxfordshire County Council and the Police and Crime Commissioner for Thames Valley have issued precepts to the Council, in accordance with Section 40 of the 1992 Act, for each category of dwellings in the Council’s area as indicated below:
|
Valuation Band |
Oxfordshire County Council |
Police and Crime Commissioner for Thames Valley |
|
£ |
£ |
|
|
A |
1,337.85 |
198.85 |
|
B |
1,560.83 |
232.00 |
|
C |
1,783.80 |
265.14 |
|
D |
2,006.78 |
298.28 |
|
E |
2,452.73 |
364.56 |
|
F |
2,898.68 |
430.85 |
|
G |
3,344.63 |
497.13 |
|
H |
4,013.56 |
596.56 |
(16) That the Council, in accordance with Sections 30 and 36 of the 1992 Act, hereby sets the amounts shown in Appendix 24 to the report as the amounts of Council Tax for the year 2026/27 for each part of its area and for each of the categories of dwellings.
(17) That the Council has determined that its relevant basic amount of Council Tax for 2026/27 is not excessive in accordance with principles approved under Section 52ZB of the 1992 Act.
(18) That the Capital Bids and Capital Programme be approved.
(19) That the Capital and Investment Strategy 2026/27, including the Minimum Revenue Provision (MRP) Policy, be approved.
(20) That the Treasury Management Strategy, including the Prudential Indicators, and Affordable Borrowing Limit for 2026/27 be approved.
(21) That a minimum level of General Balances of £8.011m be approved.
(22) That the Reserves Policy be approved.
(23) That the Medium-Term Reserves Plan be approved.
(24) That the Pay Policy Statement, as required by the Localism Act 2010, be approved.
(25) That a Pension Fund prepayment for the years 2026/27 – 2028/29 of £5.028m be approved.
(For information, having been proposed, seconded and debated, on being put to the vote, the Cherwell Conservative and Independent Alliance amendment was lost.)
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.