Issue - meetings

To consider the draft Spalding Special Expenses budget for 2025/26 (Report of  Deputy Chief Executive – Corporate Development (S151))

The Head of Finance presented the report for the Draft Budget 2025/26 to the Spalding Town Forum for consideration.

The Draft Budget 2025/26 had been presented to the members of the Spalding Town Forum.

• The Head of Finance explained that the draft budget setting for the Spalding Special Expenses was complex as it was rigorously linked to the powers that set the council tax for the District Council, subsequently this correlated to the collection of council tax for the Spalding Special Expenses.
• On account of a more favourable lease arrangement with Halley Stewart, the budget had been re-stated for the Spalding Special Expenses, the details were included within the report.
• It was estimated that Spalding Special Expenses would see a reduction in budget for 2025/26, this outcome was dependent on Cabinet and Council approving the final budget for SHDC.
• Residents who paid council tax towards the Spalding Special Expenses precept would see a reduction in the Spalding Special Expenses element of their council tax for 25/26. The removal of the previous lease agreement and running costs of the Halley Stewart allowed the Spalding Special Expenses draft budget to be decreased in principle, allowing Spalding residents to continue to pay towards the costs of the Spalding Special Expenses and in turn enabled a contribution towards the Spalding Special Expense Reserves.

• The proposed budget for Spalding Special Expenses was £195.5k which would leave an uncommitted budget of £27.9K which was presupposed to go into the Spalding Special Expense Reserves at year end if achieved.
• Details of what constituted towards the budget was detailed within the report.

The Head of Finance enquired if the members had any questions.

• Had the final percentage of council tax increased been agreed?
  • The Head of Finance responded that he would provide further information to the forum once the figure had been finalised at Cabinet and Council.
• Would the Spalding Special Expenses Reserves be transferred to the new Spalding Town Council?

The Chairman summarised that Spalding Special Expenses Reserves would see a slight increase in funds, Spalding council taxpayers would pay less into the Spalding Special Expenses, this reduction was due to Halley Stewart receiving a new lease.

The Head of Finance added that the report was still in draft form and may subject to change by the final budget set by the Council.

Agreed:

That the members reviewed the proposed Spalding Special Expenses Draft Budget 2025/26 report.

The Chairman thanked the Head of Finance for presenting the Spalding Special Expenses Draft Budget 2025/26 report.