Issue - meetings

Report of Cabinet Member for Finance and Assets, Councillor Peter Jeffries

RESOLVED THAT: 

1.     the budget setting timetable at Appendix 2 and outlined in section 3 of this report is approved;

2.     the outline budget strategy outlined in section 4 is approved;

3.     the £295k overspend reported to Cabinet in September 2025 and the large amount of work which will be required to close this gap and deliver the required savings and efficiencies in 2025/26 is noted;

4.     the intention for this council to remain working together with the Gloucestershire Business Rates Pool in 2026-27 as outlined in section 7 if applicable is noted;

5.     the Section 151 Officer, Deputy Section 151 Officer and the Cabinet Member for Finance and Assets are requested to consider suggestions from the Budget Scrutiny Working Group in preparing the interim budget proposals for 2026-27.

The Cabinet Member for Finance and Assets was pleased to present the report which outlines the strategic approach and key milestones for the development of the council’s budget and council tax  proposals, reaffirming its commitment to financial sustainability and giving corporate priorities meaningful public engagement.  The report notes the current forecast overspend of £295k for 2025-26, underlining the need to continue identifying savings and efficiencies while protecting frontline services. It also sets out the risks of relying too heavily on reserves to balance the budget.

He said that the report reflects the provisional local government financial settlement expected in late December, with final confirmation likely in January next year. This will influence the shaping of the final budget proposals.  Sadly the government always leaves decisions and announcements far too late, but have to indicate three-year settlement  which will hopefully be followed through.

In conclusion, he said that the success of the budget depends on strong collaboration of Cabinet colleagues and officers across the council, and   encouraged all colleagues to engage early with the timetable and contribute ideas and feedback within their individual portfolios, as we all work together to present a balanced and resilient budget for Cheltenham.

There were no questions or comments.

The Leader reminded Members that this report is legally required and presented at the same time every year. 

RESOLVED (unanimously) THAT: 

1.     the budget setting timetable at Appendix 2 and outlined in section 3 of this report is approved;

2.     the outline budget strategy outlined in section 4 is approved;

3.     the £295k overspend reported to Cabinet in September 2025 and the large amount of work which will be required to close this gap and deliver the required savings and efficiencies in 2025/26 is noted;

4.     the intention for this council to remain working together with the Gloucestershire Business Rates Pool in 2026-27 as outlined in section 7 if applicable is noted;

5.     the Section 151 Officer, Deputy Section 151 Officer and the Cabinet Member for Finance and Assets are requested to consider suggestions from the Budget Scrutiny Working Group in preparing the interim budget proposals for 2026-27.