Our net budget for 2025 to 2026 was set at £769.8 million and council tax will rise by 4.99%.
At the meeting a number of budget-related reports were agreed, including the Revenue Budget Report 2025 to 2026 which can be found on the Council meeting agenda item 10.
The Revenue Budget Report sets out our current financial position and includes the impact of external factors beyond our control which continue to put our finances under huge pressure, including pay and price inflation and a continuing increase in cost and demand for services, especially children’s services and adult social care.
The Revenue Budget Report and accompanying appendices also detail our reserves position and a Five-Year Financial Plan which includes savings that will need to be achieved by 2029 to 2030.
The Council heard that a lot of hard work had enabled the setting of a balanced budget for 2025 to 2026, and the financial position remains challenging, with difficult decisions needing to be made in the months ahead.
Read more about our balanced budget.