Agenda item

To consider and approve the revised General Fund Budget and Capital Programme for 2025/26. To consider and recommend to Council:

·       the General Fund Budget Estimates 2026/27 and the Medium Term Financial Strategy 2026/27 to 2030/31

·       the Council Tax levels for 2026/27

·       the Capital Programme 2026/27-2028/29 and

·       the Treasury Management Strategy Statement, Capital Strategy and Annual Treasury Investment Strategy for 2026/27.

AGREED that:

(i)            The revised estimates for 2025/26 as set out in Section 6 and Appendix A showing an estimated surplus of £107k which will be transferred to the Budget Equalisation Reserve be approved,

and to recommend to Council that:

(ii)          the General Fund revenue budget for 2026/27 as set out in Section 7 and Appendix A be approved,

(iii)         the Medium-Term Financial Strategy as outlined in the report and Appendix B be adopted,

(iv)         the Capital Programme and funding statement as set out in Appendix D be approved,

(v)          the adoption of the additional Business Rates Relief measures as detailed in Section 5 using Discretionary Relief Powers be approved

(vi)         the expenses detailed in Section 10 be approved to be treated as general expenses for 2026/27,

(vii)        the Port Health levy for 2026/27 be set as shown in Section 11

(viii)       the current working age Council Tax Support Scheme be adopted with effect from 1 April 2026 as set out in Section 13, with appropriate changes to the prescribed pensioner scheme as determined by regulations,

(ix)         the Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement (including amending the MRP calculation to be based on the ‘Annuity method’ from 2025/26 onwards), Treasury Investment Strategy, Prudential and Treasury Indicators for 2026/27 and Capital Strategy 2026/27 as set out in Section 14 and Appendix E be approved,

(x)          the Band D Council Tax level for Fenland District Council services for 2026/27 be set at £253.35, a reduction on the current year.

Members considered the Budget and Medium-Term Financial Strategy 2026/27 report presented by Councillor Boden.

Councillor Boden said this had been a very difficult budget to work on and he praised the Chief Accountant for working wonders under difficult circumstances, as well as the S151 Officer and Finance team. He added that this authority has the best record of any principal council in the country for reducing council tax, with an attitude opposite to those who always raise it by the maximum allowed. 

Councillor Mrs Laws agreed and said FDC should do more to promote the good work that it does as most people just look at the end total on their bill without looking at the items between. 

Councillor Tierney commented that every year FDC starts with a deficit, taking a pessimistic view to be sure that mistakes are not made, but then always ends in surplus. The history of this council’s finances shows that they are very good, and he agrees with Councillor Mrs Laws that FDC should undertake more self-promotion. However, many people do not fully understand which council does what, who pays what and neither do they understand why it is said that Fenland has frozen council tax again when they only see it rising. It is hard to get the message across, but FDC always puts the public first and tries to absorb any additional costs through better work, careful administration and finding ways to do things well more cheaply.

Proposed by Councillor Boden, seconded by Councillor Mrs French and AGREED that:

(i)           The revised estimates for 2025/26 as set out in Section 6 and Appendix A showing an estimated surplus of £107k which will be transferred to the Budget Equalisation Reserve be approved,

and to recommend to Council that:

(ii)          the General Fund revenue budget for 2026/27 as set out in Section 7 and Appendix A be approved,

(iii)        the Medium-Term Financial Strategy as outlined in the report and Appendix B be adopted,

(iv)        the Capital Programme and funding statement as set out in Appendix D be approved,

(v)          the adoption of the additional Business Rates Relief measures as detailed in Section 5 using Discretionary Relief Powers be approved

(vi)        the expenses detailed in Section 10 be approved to be treated as general expenses for 2026/27,

(vii)       the Port Health levy for 2026/27 be set as shown in Section 11

(viii)     the current working age Council Tax Support Scheme be adopted with effect from 1 April 2026 as set out in Section 13, with appropriate changes to the prescribed pensioner scheme as determined by regulations,

(ix)        the Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement (including amending the MRP calculation to be based on the ‘Annuity method’ from 2025/26 onwards), Treasury Investment Strategy, Prudential and Treasury Indicators for 2026/27 and Capital Strategy 2026/27 as set out in Section 14 and Appendix E be approved,

(x)          the Band D Council Tax level for Fenland District Council services for 2026/27 be set at £253.35, a reduction on the current year.