Issue - meetings

The Portfolio Holder for Resources Councillor Clive Moesby presented a report relating to the Medium-Term Financial Plan (MTFP) for 2025/26, the proposed budget 2026/27 for the General Fund, Housing Revenue Account and the Capital Programme as part of the Council’s MTFP covering the years 2025/26 to 2029/30. 

The report included the following appendices:

·       Appendices 1 and 2 - General Fund;

·       Appendices 3 and 4 - Housing Revenue Account (HRA); and

·       Appendix 5 – Capital Programme.

The financial projections included:

·       2025/26 revised current budget position which took account of changes during the financial year due to end on 31^st March 2026.

·       2026/27 original budget for next financial year starting 1^st April 2026 on which the Council Tax would be based on.

·       2027/28 to 2029/30 – Financial Plan which included the financial projections for the next three financial years.

The report had been considered by Finance and Corporate Overview Scrutiny Committee on 22^nd January 2026 and by Executive on 26^th January 2026.

The figures for 2026/27 – 2029/30 had been produced on the basis of the successful transition of Dragonfly staff and services back to the Council by 31^st March 2026.

The Council’s main uncommitted Financial Reserves was the General Fund Working Balance of £2.001m, the uncommitted element of the Transformation Reserve was £0.700m and the NNDR Growth Protection Reserve had a balance of £16.9m. 

The Council’s main uncommitted Financial Reserves for the Housing Revenue Account Working Balance was £2.006m.  In addition to the Working Balance there were further reserves for the HRA used to fund the Council’s HRA capital programme including the Major Repairs Reserve, New Build Reserve, Vehicle Repair and Renewal Reserve and the Development Reserve.

The following comments were made by Members:

·       Councillor Watson stated that whilst she understood the obligation to produce a balanced budget for a number of years her duty was to represent the people who had elected her.  Local Government Reform was being inflicted on councils but they did not have to blindly follow.  She questioned again how the reserves would be used and stated that they would not benefit Bolsover residents.

·       Councillor Tait sought clarity on the large reduction in the NNDR business rates and whether the figures detailed in the report included the payback to Government.

o     The S151 Officer confirmed that the NNDR figures quoted were solely BDC’s share net after payments to Government. 

·       Councillor Stevenson asked how funding could be accessed for South Normanton and neighbouring parishes. 

o     The S151 Officer confirmed that the Capital Programme detailed in Appendix 5 of the report included emerging projects, identified areas of need for housing, emergency works and findings of the Council’s Asset Management Group.

·       Councillor Fletcher congratulated the S151 Officer and Portfolio Holder  for Resources on building up the Council’s reserves and that the Government settlement had been better than expected.  This meant that there would be £16.9m left in the growth reserve and for this reason he would be voting against the recommendations as the public should  ...  view the full minutes text for item 71