A Rushcliffe Borough Council (RBC) Full Council meeting will discuss approving its proposed budget for 2025/26 on Thursday (March 6) that could see £27m invested in its services over the next five years.
The Cabinet discussed the plans at its meeting in February.
If approved, A Band D property is set to increase 8p a week, at £3.89 for the 12 months from April 2025 or 2.46%. This is despite limited Government grants and recent high levels of inflation as the Council’s sound financial management continues to balance its books and ensure it remains debt free.
Despite the ongoing financial pressures, RBC is able to continue to support economic growth in the borough, developing and enhancing equipment and facilities with the investments planned in line with a focus on achieving net zero carbon as part of its environmental priorities.
RBC’s Cabinet Portfolio Holder for Finance, Transformation and Governance Cllr Davinder Virdi said: “This year’s proposed budget continues to have challenges but also builds on opportunities as the Council still retains an ambitious capital programme of £27.1m over the next five years to deliver its corporate objectives.
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“The excellent projects in 2025/26 will include continued investment in properties, leisure centre upgrades and carbon reduction initiatives using the Council’s Climate Change Action Plan and Reserve, vehicle replacement and other ‘simper recycling’ costs such as new glass recycling bins and continue to invest in new technology.
“The Council looks to balance the needs of both the more vulnerable in the community with over £4.5m planned over five years for Disabled Facilities Grants and support for Registered Housing Providers.
“As a Council we will continue to grow the Borough, galvanising the borough’s high streets, and playing an active role in significant economic growth projects such as the Freeport and the development of the Ratcliffe-on-Soar power station site.
“A positive budget position will prevail as long as the Council continues its cost control and income generation measures and it continues to identify efficiencies and has had to do so given inflation pressures outstripping growth in Council Tax income.
“Income streams have largely remained resilient but clearly with ongoing cost-of-living challenges there are risks with reducing disposable income that households could use Council services less.
“Higher interest rates have benefitted the Council with greater investment income returns which help offset expenditure pressures.
“Importantly the Council remains debt free and therefore does not have the burden of the cost of debt, so taxpayers money can be spent on the Council delivering services and not repaying both interest and loans. If approved, its element of the Council Tax bill will remain within the lowest quartile in comparison to district and borough councils nationally.
“We are heading into a period of uncertainty with the likelihood of both Local Government Reorganisation and government funding reform but the focus continues to be on delivering excellent services, maintaining service levels and enhancing facilities for residents.”
