Issue - meetings

Members gave consideration to a report which presented the Medium-Term Financial Plan (MTFP) for 2025/26 onwards, alongside the 2025/26 Budget and the Capital Programme from 2025/26 to 2029/30.

The Leader made the following budget speech to Council in presenting the report:

“This report sets out the medium-term financial plan for 2025-26 onwards. The purpose of the medium-term financial plan is to set out robust overall framework for the Council's financial strategy and spending plans over the next five years in support of delivering the corporate plan. The report sets out the revised financial plans with the financial analysis for changes in government funding, the economic environment, local engagement and the priorities of the council. The plan reflects the revisions to previous estimates and covers the period of 2025-26 to 2029-30. The medium-term financial analysis includes the budget for 2025-26 for approval. A balanced budget for 2025-26 is proposed without the requirement to support it with funds from the general fund balance.

The final local government finance settlement was delivered in February, which announced a further five years new homes bonus in 2025-26, which will be put into the growth reserve. The reset of the business rates and the wider review of the local government funding were not announced, and they are now expected during 2025. It is likely that these will result in a reduced funding for the council.

The referendum limit for council tax has been set for district councils at up to 3% or £5 whichever is the higher. For 2025-26, the West Lindsey part of council tax is increased by 2.98%. This equates to a rise of £7.21 for a Band D property. The 2025-26 budget totals £21.155 million and is fully funded and represents a balanced budget.

The capital programme totals £13.79 million over a medium-term financial plan and is fully funded. During 2025-26, plans will be developed and expanded in the capital programme to deliver the priorities on leisure and wellbeing and improve access to health services whilst addressing inequalities. As and when these plans are developed, these will be shared with Members at the earliest opportunities.

Also included in the medium-term financial plan are the risk register, at appendix 2, and the Pay Policy Statement and Human Resources Statement in appendices 13 and 14 respectively.

Our engagement with the peer challenge review process in January highlighted that it would be beneficial for us to have a greater level of direction and clarity on our priorities in the Executive Business Plan in order that these progress and can be quickly achieved in terms of delivering our priorities. It would not have made sense to present one plan only to present a refreshed version in a few weeks' time. So common sense has prevailed, and this will be presented to Members in June and it will include:

1.    an extension of the work around health and wellbeing through high level work with partners to facilitate improved GP provision across Gainsborough and the district.

2.    to improve  ...  view the full minutes text for item 71