The Council's Budget

Rushcliffe Borough Council Financial Strategy - summary (2025-26 to 2029-30)

The economic environment continues to be challenging, contributing factors include the aftereffects of the global pandemic, continued international conflict, unprecedented levels in inflation, and Employers National Insurance rises, all of which have elevated the Council’s cost base and increased cost of living for Rushcliffe residents and business. Local and global political changes have added more uncertainty to financing and policy, making budget setting over the period of the Medium-Term Financial Strategy (MTFS) increasingly difficult, and these challenges are set to increase with Local Government Reorganisation (LGR).

The Council takes a prudent approach and maintains an adequate level of reserves to mitigate such risks, as such the Council is currently debt-free and therefore not subject to the impact of significant increases in interest rates on borrowing,

The Council has approved a balanced budget for 2025/26 that is robust, affordable, and deliverable. Over the 5-year period of the MTFS the Council is forecasting and overall deficit of £0.172m. Whilst this deficit can be met from reserves, the use of reserves is not a long-term solution. The Transformation and Efficiency Plan has been pivotal in reducing this deficit and opportunities to close the gap will continue to be sought to help ensure a balanced budget can be achieved going forward.

The Council’s Medium Term Financial Strategy (MTFS) firstly seeks to ensure that the Council remains financially resilient and able to deliver the services it must by law; secondly to ensure the resilience of the budget in a time of significant budget pressures and real terms decreases in funding, thirdly to ensure that the Council continues to embrace opportunities that support the economic growth and development within the Borough; fourthly maintain discretionary services valued by the residents; and finally, support the Council’s targets for carbon reduction. Thus, ensuring the Council continues to deliver its Corporate Strategy objectives, in accordance with the corporate strategy approved in December 2023.

The Council has taken measures to maintain a strong financial position whist continuing to invest and encourage growth, such as:

Increasing the Council Tax for 2025/26 by 2.99% (cap 3%) and in further years to fund net expenditure whilst ensuring Rushcliffe’s Council Tax remains amongst the lowest in the country (and the lowest in Nottinghamshire) and an increase below inflation.
Revising fees and charges in-line with inflation including increases in garden waste and car parking
Creating reserves for future pressures including simpler recycling, LGR and carbon offsetting
Using reserve balances over the medium term, together with a savings target, to balance the budget
A five-year capital investment strategy totalling £27.13m over the 5 years that prioritises schemes that either; fulfil a health and safety duty, essential to keep assets operational, or are match funded environmental initiatives that present revenue budget efficiencies to make best use of diminishing resources.
Transformation targets over the 5-year period of £1.762m through service efficiencies and income generation
A forecast level of general balances of £2.6m throughout the 5-year strategy.

This budget is designed to ensure we maintain high quality services for current and future generations, a budget that is both financially and environmentally sustainable.

Documents to download

Council Spending