Apologies for absence were received from Councillor Wells.

Councillor Candon declared a personal interest in relation to item 5 in his capacity as Chairman of the Town Centre Partnership.

Councillor Plant declared a personal interest in relation to item 5 in his capacity as a Member of the GYTABIA Board.

There were no items of urgent business to be discussed at the meeting.

The minutes of the Cabinet meeting held on 13 January 2026 were confirmed as a true record.

Cabinet received and considered the report from the Head of Inward Investment.

Councillor Candon, Portfolio Holder for Economic Growth & Development, presented the report and advised that on the 25 September 2025, the Government announced that Great Yarmouth had been awarded Pride in Place Impact Funding of £1.5m; £750,000 in 2025/26 and £750,000 in 2026/27.

Councillor Candon advised that the report outlined seven eligible projects that could be delivered in line with the guidance and the prescribed spend profile to the end of financial year 2026/27. It was reported that the Town Board had considered and approved these projects on the 20 January 2026 and they were therefore now being presented to Cabinet to consider from the perspective of the Council, acting as accountable body for the funding.

Councillor Candon here highlighted that there had been an omission of a designated Officer title within recommendation B of the report so he therefore, proposed an amendment to recommendation B in the published report to address the omission and that the wording be revised to read: “Delegate to the Head of Inward Investment and the Funding and Programmes Officer responsibility for submitting the projects and supporting materials for Government review by February 16, 2026.” Following a vote this amendment was agreed.

Councillor Plant asked which representatives were appointed to sit on the Town Deal Board, as it appeared that personal credit was being taken by some individuals/ representatives for its work, with GYBC as the accountable body. He felt that more communication and positive narratives was needed to ensure that the work of the Town Deal Board was highlighted. Councillor Plant commented that the Town Deal Board was populated by representatives who have a high standing within the Borough and that they should be recognised for their work.

Councillor Plant further commented on the projects that were detailed within the report which had been highlighted by the Town Deal Board. he felt that these were equally spread across the town and once delivered, they would be of benefit to the whole Borough. The Leader commented that this was exactly why the Town Deal Board had been created, to ensure that projects covered the whole of the Borough.

Councillor Wainwright commented on the need for stronger communication around the decisions made by the Town Deal Board and the need to highlight the highly respected people within the Borough who were behind the decision-making, such as the High Sheriff and representatives from the Local Colleges.

 Cabinet RESOLVED to :

a) review the contents of this report and annex, noting the wishes of the Town Board; and

b) delegate to the Head of Inward Investment and the Funding and Programmes Officer responsibility for submitting the projects and supporting materials for Government review by February 16, 2026

Cabinet received and considered the report from the Financial Services Manager.

The Leader, Portfolio Holder for Governance, Finance & Major Projects reported that this report and document presented for approval the Council’s Capital Strategy, Investment Strategy and Treasury Management Strategy Statement for 2026/27.

The Leader advised that the strategies provided a framework that gives a high-level overview of how capital expenditure, capital financing and treasury management activity contribute to the provision of local public services along with an overview of how associated risk is managed and the implications for future financial sustainability. They also highlight how the Council’s decisions on capital spend has financial implications for the future and the financial planning of the Council.

It was advised that the Capital Strategy for 2026/27 was attached at appendix 1 and covered capital expenditure and financing, treasury management and commercial activities. It was reported that the Strategy reflects how previous capital investment decisions and those taken as part of the 2026/27 budget setting have ongoing implications for the Council and its financial position in the future.

It was reported that the Investment Strategy for 2026/27 was attached at appendix 2 and focused on how the Council can support local services by making service or commercial investments. 


The Council is required to determine annually its Treasury Management Strategy (TMS).  The Leader advised that the TMS for 2026/27 financial year was attached at appendix 3 and includes the following: -

• Annual Treasury Investment Strategy 

• Operational Boundary and Authorised Limits 

It was advised that the strategies presented were in line with the 2026/27 budget as presented for approval. As decisions are made in the year, this may impact on the strategies and the respective decision making and recommendations will consider the strategies and recommend changes to them as applicable.

Councillor Plant made reference to section 8 within the report which referred to knowledge and skills and commented that he agreed, that at times, consultants were needed in order to ensure specific skill sets could be appropriated for projects.

Councillor Plant further asked if Capital Programmes could be carried over to any new Unitary Council's which were established, this was confirmed, and the Leader advised that work was ongoing in relation to this and any future transition.

Cabinet RESOLVED to recommend to Council :-

• The Capital Strategy for 2026/27 
• The Investment Strategy for 2026/27 
• The Treasury Management Strategy Statement for 2026/27, including: 
(a). The Treasury Investment Strategy (section 4) 
(b). Prudential Indications (section 5) 
(c). Operational Boundary and Authorised Limits (Appendix D).

Cabinet received and considered the report from the Executive Director - Resources (S151 Officer).

The Leader reported that the report presented the 2026/27 budget for the General Fund and Housing Revenue Account for approval including the capital programme for both. The Leader advised that the report would be considered by Scrutiny on the 10th February and recommendations will be made to Council on 24 February 2025 to inform the setting of the council tax for 2025/26. 

The Leader advised that the 2026/27 medium term financial strategy was presented to Members in December 2025 and at that time set a savings/income target of £0.6 million for the 2026/27 financial year, with a further £0.5 million target in 2027/28. This along with a reliance on the use of reserves over the short term was part of the financial strategy to produce a balanced budget for 2026/27. This was the position ahead of the announcement of the finance settlement and the detailed work on the service budgets.

The provisional Local Government Finance settlement for 2026/27 was announced on 17 December 2026, this saw the most significant re-allocation of resources for local government for over 3 financial years taking into account the outcomes of The Fair Funding Review 2.0 and the Business Rates Reset. More details on the outcome of these are included in section 2 along with the funding impact.

The Leader advised that the detail of the budget had been produced by joint working between the service areas and the finance team, informed by operational plans for example for the provision of services by GYS, assumptions of income from demand led services to co-ordinate the detailed service budgets which are presented in more detail at Appendix A (summary statement) and Appendix B for the detailed service budgets.

It was reported that the 2026/27 budget for the HRA reflects the current revenue requirements for repairs and maintenance service, housing management and capital programme investment on housing.

The report also presented the capital programme for the coming year which sees the continuation of the significant investment programme from the town deal, levelling up fund and Pride in Place Projects. 

The Leader advised that the Council must present for approval a balanced budget each year. Despite the slightly improved finance settlement for 2026/27 above the level previously forecast, the budget is still reliant on the use of reserves, as it would be in the medium term, and he advised that this was not a sustainable position for the long term.

The Leader reported that whilst the report presented a budget for 2026/27 for approval, it  flagged a funding gap of £1.6 million in 2027/28, after assuming a forecast savings target of £1.25 million, for which early work will commence on addressing this gap in 2026/27.

The Leader advised that the budget included £500,000 for the provision of Local Government Reorganisation and the inclusion of Councillor Ward Budgets for 2026/27.

The Leader advised that he had not received a response to the letter he had sent to the Minister regarding the financial settlement.

The Leader thanked the Executive Director, Resources and her team for their hard work they had undertaken to prepare the budget, even when faced with the settlement figures being announced to authorities later and later each year.

Cabinet RESOLVED to RECOMMEND to COUNCIL :-

(1) Approval of the 2026/27 general fund revenue budget as detailed at Appendix A;

(2) The Council Tax for 2026/27 for the Borough Council tax be £198.25 (for an average Band D);

(3) That the demand on the Collection Fund for 2026/27 be:
(a) £6,350,397 for the Borough Council purposes;
(b) £897,173 for Parish Precepts (to be updated for final precepts when confirmed);

(4) The updated fees and charges as detailed in Appendix H;

(5) The reserves statement and movement on the reserves as detailed at Appendix E and within section 4 of the report;

(6) The Policy framework for reserves as detailed at Appendix F;

(7) The updated Capital Programme and financing for 2025/26 to 2028/29 as detailed at Appendix G and within section 6;

(8) The Minimum Revenue Provision Statement 2026/27 as included at Appendix I;

(9) The housing revenue account budget as detailed at Appendix J; 

(10) The housing revenue account capital programme and financing for the revised forecast 2025/26 position and 2026/27 – 2028/29 as detailed at Appendix K; and

(11) To approve increase to social and affordable rents at CPI + 1% (4.8%) and changes to service charges as set out in report and appendices.

RESOLVED:-

That under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting for the following item of business on the grounds that it involved the likely disclosure of exempt information as defined in paragraph 3 of Part I of Schedule 12(A) of the said Act.

CARRIED.