Agenda item

To consider the attached report

The Executive Member for Corporate Resources presented the final financial plan proposals 2026/27 to 2028/29 which reflected the 3 year Government grant settlement. Members were also referred to the circulated budget forecast 2026/27 flow chart detailing the revenue and capital budgets.

During discussions concerns raised and information noted included:

-        Savings made by the council through the climate action plan energy efficiency works in council owned buildings.

-        The council’s share of the council tax amounted to 8% and was providing good value to money services effectively providing services with a continuously decreasing budget.

-        The storm damage budget has increased and grant funding for the current year has been applied for.

-        The development of 1 and 2-bed council houses was welcomed.

-        The increase in employment infrastructure and proposed development of business units in Newton Abbot.

-        Sunday car parking charges had been adjusted in line with inflation and were now more equitable with normal parking charges.

-        The budget reflected the approved One Teignbridge Council Strategic Action Plan

Further information requested included how the Council compares with other district councils on savings from energy efficiency, and to have sight of policy documents relating to the One Teignbridge action Plan which the budget aligns with.

It was proposed by Councillor C Parker, seconded by Councillor Swain and unanimously

RECOMMENDED

The Committee recommends to the Executive that the final financial plans proposals as set out in the agenda report 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:

•      An increase in council tax of £6.05 or 2.99% to £208.33

•      Maintaining 100% council tax support

•      Continuing to react to the climate change emergency by maintaining ongoing revenue budgets for a climate change officer and associated spending in revenue and provision in the capital programme, including ongoing provisions for corporate decarbonization 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 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