2026-2027 Proposed Budget and Reserves

Extract from minutes of the meeting held 12th November 2025

25/26-49 BUDGET 2026/27
a) Ear marked reserves (EMR) 2026/27
Councillors noted the circulated papers for this item which included a copy of the ear marked reserves, draft budget for 2026/27, Precept figures for different percentage increases and the Budget report written by the Clerk/RFO all documents were noted. The Clerk explained the increase in the projects especially the KGV Masterplan which was now at £250,000.00.
It was also confirmed that the ear marked reserves were the show the current position and the projected position where works such as the car park resurfacing and millennium wall works will have been completed. The recommendation of keeping the general reserves at £100k and the use of some of the unallocated reserves for the Budget was noted and it was duly proposed, seconded, and unanimously RESOLVED by a show of hands to be accept the reserve levels for 2026/27.
Motion carried.

b) Review of Charges 2026/27
Councillors were keen to note the cost of living crisis and how this may be impacting residents both in this financial year and the next. Given this consideration it was duly proposed, seconded, and unanimously RESOLVED by a show of hands to freeze the car park prices for 2026/27 and discuss again in preparation for the next budget 2027/28.
Motion carried

Councillors raised their concerns with the uncertainty over the redevelopment of KGV and as a result it was duly proposed, seconded, and unanimously RESOLVED by a show of hands to freeze the rents on the buildings at KGV in 2026/27 and discuss again in preparation for the next budget 2027/28.
Motion carried.

c) Budget 2026/27
The budget was noted as circulated and there were several questions on expenditure and some of the increases especially in utilities and litter/waste collection. There were no amendments made to the draft budget and it was duly proposed, seconded, and unanimously RESOLVED by a show of hands to accept the draft budget at £313,057.00 with the use of ear marked reserves at £72,443.00 to make a total budget for 2026/27 of £385,500.00
Motion carried

d) Precept 2026/27
The Budget report drafted by the Clerk/RFO was noted and also her recommendation of a 2% increase. Councillors debated and there was a general opinion given the discussions earlier over the cost of living that the increase should be lower at 1% to recognise the level of reserves of the Council. It was duly proposed, seconded, and unanimously RESOLVED by
a show of hands to increase the Precept by 1% which based on 2025/26
Band D figures of £89.94 would increase the Band D figure to £90.83.
Motion carried

It was noted that figures would be subject to change due to any increase in Band D properties for 2026/27 which would be confirmed in December by Welwyn Hatfield Borough Council.

Councillors thanked the Clerk for all her hard work on the papers for this item.

You can download a copy of the budget document, as an excel file, by using the link in the table below.

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