Agenda item

That:

(a)  The MediumTerm Financial Plan (MTFP) and Capital Programme, as presented to Policy and Resources on 26 January 2026, be approved subject to the following changes:

·         That the final parish precept figures are reflected in the MTFP at Appendix 1

·         That, following the final settlement, the level of Non-Domestic Rates and Revenue Support Grant funding used to support the budget is reflected in the MTFP at Appendix 1 and balanced against the Collection Fund Reserve.

·         Provision is made within the revenue and capital budget for a Heritage and Parks Enhancement Programme, it will allow a range of projects to be completed, including but not limited to the following:

(i)    Delivery of an additional dog exercise park.

(ii)   Parking measures most likely to be required at The Green, Croxley Green.

(iii)  Heritage improvements at Dickinson Square.

(iv)  Additional entrance improvements at Leavesden Country Park (Furtherfield area).

(v)   Projects relating to The Withy Beds and Stones Orchard.

(b)  Additional budget for arboriculture management of £90,000 per year for 2026/27 and 2027/28.

(c)   Additional money is made available to bring forward the parking schemes programme:

(d)  Additional money is made available to speed up the programme of Conservation Area Appraisals:

(e)  An additional £10,000 is added to the rolled forward revenue for Rickmansworth Town Improvements in 2026/27.

(f)    £5,000 revenue per year in 2026/27 and 2027/28 is allocated to support community-led litter picking initiatives.

(g)  An additional £5,000 is allocated to the capital programme per year in 2026/27 and 2027/28 for repairing council-owned footways and alleyways.

(h)  £150,000 revenue per year in 2026/27, 2027/28 and 2028/29 for the additional capacity recommended by the Peer Review for the period leading up to and immediately after local government reorganisation.

·         £2,250,000 is allocated to the capital programme in 2026/27 for the Local Authority Housing Fund tranche 4 with £1,000,000 of the funding coming from government grant.

·         That the revenue budget for 2026/27 totalling net expenditure of £15,243,445 and the draft revenue estimates for the period 1 April 2027 to 31 March 2029 giving a balance on the general fund at 31 March 2029 of £4.2M be approved. (Appendix 1)

·         That £2.0m be considered as a prudent minimum balance for the general fund.

·         That the capital strategy, including the Minimum Revenue Provision strategy and the Treasury Management Policy, as presented to Policy and Resources Committee on 26 January 2026 be agreed, subject to the changes outlined above, and the total investment programme for 2026/27 be agreed at £6,794,941.

·         That the arrangements for funding the 2026/29 capital strategy and investment programme resulting in an estimated balance of capital resources at 31 March 2029 of £1,989,308 be agreed.

·         That the financial and budgetary risks presented to The Policy and Resources Committee on 26 January 2026 be approved and their management monitored by the Audit Committee.

·         That the Council Tax Reduction Scheme remains unchanged other than for the updating of prescribed amounts.

·         That the position on the financial reserves as presented to the Policy and Resources Committee on 26 January 2026, as amended by paragraph above, is noted.

·         The Director of Finance’s advice on the robustness of the estimates and the adequacy of the financial reserves is noted.

·         The Director of Finance be authorised to amend individual budget lines to implement the budget as set out above.