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Decision details

Budget 2025/26 and Medium Term Financial Strategy

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

The purpose of the report was to present the Revenue Budget for 2025/26, the Capital Programme and the Medium-Term Financial Strategy for 2025/26 to 2028/29.

 

The Deputy Leader and Cabinet Member for Finance and Transformation introduced the item.

 

The recommendations were proposed by Councillor Evemy, Deputy Leader and Cabinet Member for Finance and Transformation and seconded by Councillor Harris, Leader. This proposal was put to the vote and agreed by Cabinet.

 

RESOLVED Cabinet approved for recommendation to Council:

1.     the Medium-Term Financial Strategy set out in Annex B

2.     the Budget Pressures and Savings for inclusion in the budget, set out in Annex C

3.     the Council Tax Requirement of £7,065,418 for this Council

4.     the Council Tax level for Cotswold District Council purposes of £158.93 for a Band D property in 2025/26 (an increase of £5)

5.     the Capital Programme, set out in Annex D

6.     the Annual Capital Strategy 2025/26, as set out in Annex E

7.     the Annual Treasury Management Strategy and Non-Treasury Management Investment Strategy 2025/26, as set out in Annex F

8.     the Strategy for the Flexible use of Capital Receipts, as set out in Annex H

9.     the balances and reserves forecast for 2025/26 to 2028/29 as set out in Section 7 of the report.

10.  Formally noted the renewal of the CIVICA OpenRevenues 3-year software contract from 01 June 2025 with an annual fee of £0.106m (an increase of £0.031m over the previous annual contract value)

 

RESOLVED: Cabinet approved delegation to the Council’s Deputy Chief Executive, in consultation with the Deputy Leader and Cabinet Member for Finance to:

11.  Agree changes to the General Fund Summary arising from the Local Government Finance Settlement and the Business Rates Retention Scheme estimates prior to submission to Council.

 

Voting Record: 5 For, 0 Against, 0 Abstention.

Report author: David Stanley

Publication date: 07/02/2025

Date of decision: 06/02/2025

Decided at meeting: 06/02/2025 - Cabinet

Effective from: 15/02/2025

Accompanying Documents:

 

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