Decision details

RECOMMENDED

The proposed budget as set out as in Appendix 4 for revenue and Appendix 7 for capital as set out in the agenda report be approved.

RESOLVED

These proposals including the core voluntary grants being increased by 4% for three years from 2026/27 through to 2028/29 be considered, together with any subsequent consultation comments for approval by Council as the final budget for 2026/27 and the outline plan for the subsequent years 2027/28 and 2028/29.

The proposed budget includes:

•              The level of council tax and the proposal to increase it by £6.05 or 2.99% to £208.33.

•              Reducing central funding and the need to make ongoing efficiencies using invest to save where possible.

•              Maintaining 100% council tax support.

•              The ongoing impact of economic conditions on income streams and changing Government funding.

•              Continuing to react to the climate change emergency by maintaining ongoing budgets for a climate projects officer and associated spending in revenue and provision in the capital programme, including ongoing provisions for corporate decarbonisation schemes as per 5.5.

•              A £3 million provision for employment sites funded by borrowing.

•              Authority for Executive to exceed the approved overall revenue budget by up to £200,000 per 4.25.

•              Support for housing – the Homes4Teignbridge initiative including £7,243,317 for the Sherborne House Car Park social rented flats and further purchases supported by the Local Authority Housing Fund (see 5.3) whilst backing business and bringing people and organisations together for local neighbourhood planning.

•              Infrastructure delivery plan investment funded by community infrastructure levy (CIL) and external sources where available (see 5.4).

•              Continuation of grant-funded South West Regional Coastal Monitoring Programme as per paragraph 5.6.

·             Town centre investment in infrastructure and employment as per 5.7

·             Revenue contributions to capital being maintained at £1,500,000 per annum for 2026/27 and £500,000 thereafter.

·             Councillors’ community fund set at £1,000 each.

·             Providing additional 4% inflationary funding to voluntary group grants

·             The level of general reserves necessary for the council as per 4.22 – recommended at £2.6 million.

·             The Financial Plan 2026 – 2031 as updated for adoption (at Appendix 8) and to continue to facilitate Member progression of work plans by Overview & Scrutiny to address the budgetary position and deliver savings.