URL: https://democracy.basingstoke.gov.uk/ieDecisionDetails.aspx?ID=500000005

Decision Maker: Cabinet, Council

Outcome:

Is Key Decision?: No

Is Callable In?: No

Purpose: This report presents an updated Medium Term Financial Strategy (MTFS) for the period 2026/27 to 2029/30 as part of the annual reporting on the Policy and Budget Framework required under the Local Government Act  2000 and provides detail to inform Council in setting Council Tax for 2026/27.  

Content: This report presents an updated Medium Term Financial Strategy (MTFS) for the period 2026/27 to 2029/30 as part of the annual reporting on the Policy and Budget Framework required under the Local Government Act  2000 and provides detail to inform Council in setting Council Tax for 2026/27.     Cabinet note:   1)      The revised Medium Term Financial Strategy 2026/27 to 2029/30 as detailed in Appendix 1 of the report.   2)      The aims and objectives of the Medium Term Financial Strategy which will be presented to Council for approval on 26 February 2026.   3)      The formal budget public consultation began on 12 November 2025 and ended on 4 January 2026. Following the consultation, there are no changes to the budget proposals and the outcome of the consultation is summarised in section 19 and Appendix 6 of the report.   4)      The budget proposals are based on the assumptions detailed within the Medium Term Financial Strategy.   5)      That the proposals provide for a balanced budget in 2026/27, 2027/28 and 2028/29, and further proposals will need to be considered to address the future year budget gap in 2029/30.   6)      That the Financial Policies have been reviewed and are detailed in Appendix 4 of the report.   Cabinet Recommends Council:   To note:   7)      The S151 Officer’s (Chief Finance Officer) statutory report regarding the robustness of the estimates and adequacy of reserves detailed in section 11 of the report.   8)      That the Chief Finance Officer (S151 Officer) on the 5 January 2026 calculated the Council Tax base for the whole Council area at 70,432.5 Band D equivalents and for dwellings in those parts of its area to which a parish precept relates as per Appendix 2 of the report.   9)      The county, police and fire authority precepts detailed in Appendix 3 of the report.   10)  That as the billing authority, the Council has not been notified by any major precepting authority that its relevant basic amount of Council Tax for 2026/27 is excessive and the billing authority is therefore not required to hold a referendum, in accordance with section 52ZK of the Local Government Finance Act 1992.   11)  The risks and sensitivities within the financial forecasts highlighted in section 9 and in Appendix 5 of the report.   To determine:   12)  That for the purposes of section 35 (2) (d) of the Local Government Finance Act 1992, any expenses incurred by the Borough Council in the financial year 2026/27 in performing functions in a part of the district which elsewhere in the district are performed by a Parish Council, shall not be special expenses of the Borough Council.   13)  That its relevant basic amount of Council Tax for 2026/27 (£151.42 at Band D) reflects a £5.00 (3.41%) increase which is not excessive in accordance with principles approved under Section 52ZB of the Local Government Finance Act 1992.   To approve:   14)  The net Council Tax requirement of £10.66M for 2026/27, the revenue estimates including the budget proposals and contributions to and from reserves summarised in sections 6 and 7 of the report.   15)  The Medium Term Financial Strategy, as shown in Appendix 1 of the report.   16)  The financial policies set out in Appendix 4 of the report.   17)  The updated Financial Regulations as detailed in Appendix 7 of the report for inclusion in the council’s constitution.   18)  That the requirement for Council Tax for Borough purposes for 2026/07 be £151.42 (at Band D) as set out in Appendix 3 of the report.   19)  The Council Tax Resolution as set out in Appendix 3 of the report, which brings together the Borough’s Council Tax Requirement and that of the other major preceptors (Hampshire County Council, Hampshire Fire and Rescue and The Police and Crime Commissioner for Hampshire) and sets the Council Tax charges for 2026/27.   20)  That the S151 Officer (Chief Finance Officer) be given delegated authority to implement any variation necessary to the overall level of 2026/27 Council Taxes in the event that any of the precepting authorities change their precept calculation from that expected and reported at the Council meeting.

Date of Decision: February 10, 2026