Budget and Financial Strategy Appendices 2026-27

Contents

Appendices

Appendix 1 - Funding Analysis for Special Expenses Areas

Appendix 2 - Revenue Budget Service Summary

Appendix 3 - Capital Programme and Appraisals

Appendix 4 - Use of Earmarked Reserves 2026/27

Appendix 5 - Transformation and Efficiency Plan

Appendix 6 - Core Spending Power

External Appendices

Appendix 7 - Business Rates Pool

Appendix 8 - Pay Policy

Appendix 9 - Capital and Investment Strategy

Appendix 1 - Funding Analysis for Special Expenses Areas

Funding Analysis for special Expense Areas
Description	2025/26	2026/27	Percentage Change
West Bridgford	-	-	-
Parks and Playing Fields	£496,000	£471,000	-
West Bridgford Town Centre	£117,400	£130,600	-
Community Halls	£131,300	£137,600	-
Repayment of Revenue Deficit	£16,000	£30,000	-
Revenue Contribution to Capital Outlay	£100,000	£100,000	-
Annuity Charges	£110,400	£158,000	-
Sinking Fund	£20,000	£20,000	-
Total	£991,100	£1,047,200	-
Tax Base	15,285.10	15,538.20	-
Special Expense Tax	£64.84	£67.40	3.95%
Keyworth	-	-	-
Cemetery	£9,600	£10,000	-
Annuity Charges	£500	£600	-
Total	£10,100	£10,600	-
Tax Base	3,148.20	3,165.10	-
Special Expense Tax	£3.21	£3.35	4.36%
Ruddington	-	-	-
Cemetery	£10,400	£11,500	-
Total	10,400	11,500	-
Tax Base	3,311.30	3,383.10	-
Special Expense Tax	3.14	3.40	8.28%
Total Special Expenses	£1,011,600	£1,069,300	5.70%

Appendix 2 - Revenue Budget Service Summary

Revenue Budget Summary
Description	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Chief Executive	£1,613,000	£1,783,200	£2,005,900	£1,787,100	£1,821,500	£1,852,900
Finance and Corporate Services	£4,892,400	£5,593,900	£5,743,200	£5,989,700	£6,232,500	£6,868,600
Development and Economic Growth	£467,100	£1,118,800	£957,800	£964,200	£957,800	£922,700
Neighbourhoods	£7,939,000	£8,848,500	£8,851,600	£9,103,700	£9,183,200	£9,220,300
Net Service Expenditure	£14,911,500	£17,344,400	£17,558,500	£17,844,700	£18,195,000	£18,864,500
Reversal of Capital Charges	(£1,894,600)	(£4,246,400)	(£4,007,400)	(£3,889,600)	(£3,889,600)	(£3,889,600)
Transfer to / (from) Reserves	£2,148,000	£3,398,000	£3,232,000	£3,424,700	£1,759,700	£1,685,700
Minimum Revenue Provision	£1,174,000	£1,237,000	£432,000	£312,000	£318,000	£325,000
Total Net Service Expenditure	£16,338,900	£17,733,000	£17,215,100	£17,691,800	£16,383,100	£16,985,600
Funding	-	-	-	-	-	-
Other Grant Income	(£1,761,000)	(£6,004,900)	(£4,633,700)	(£3,254,800)	(£3,180,000)	(£3,257,400)
Business Rates	(£6,676,000)	(£2,674,800)	(£2,795,500)	(£2,857,300)	(£2,943,000)	(£3,031,300)
Collection Fund (Surplus) / Deficit	(£835,000) surplus	£131,400 deficit	0	0	0	0
Business Rates Pool Surplus	(£400,000)	0	0	0	0	0
Transitional Reliefs	0	(£484,000)	(£255,500)	(£859,300)	0	0
Council Tax Income	-	-	-	-	-	-
Rushcliffe	(£7,727,500)	(£7,843,600)	(£8,241,200)	(£8,682,300)	(£9,134,600)	(£9,609,200)
Special Expenses Areas	(£1,011,600)	(£1,069,300)	(£1,103,000)	(£1,114,500)	(£1,136,700)	(£1,159,600)
New Homes Bonus	(£1,477,600)	0	0	0	0	0
Total Funding	(£19,888,700)	(£17,945,200)	(£17,028,900)	(£16,768,200)	(£16,394,300)	(£17,057,500)
Net Budget (surplus) / deficit	(£3,549,800) surplus	(£212,200) surplus	£186,200 deficit	£923,600 deficit	(£11,200) surplus	(£71,900) surplus

Appendix 3 - Capital Programme and Appraisals

Development and Economic Growth

Capital Programme - Development and Economic Growth
Scheme	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	Total
The Point Enhancements	0	£400,000	0	£400,000
6F Boundary Court	0	0	35,000	£35,000
Manvers Business Park Enhancements	£70,000	0	50,000	£120,000
Bingham Arena	0	0	£30,000	£30,000
Colliers Business Park Enhancements	£50,000	0	0	£50,000
Wilwell Cutting Bridge	0	0	£50,000	£50,000
Devonshire Road Railway Bridge	0	0	£100,000	£100,000
West Bridgford Town Centre Regeneration	0	0	£500,000	£500,000
Car park resurfacing (Needham Street and Rushcliffe Country Park) (1)	£200,000	0	0	£200,000
Public Open Space enhancement Waltham Close, West Bridgford (2)	0	£50,000	0	£50,000
Hammerhead Moorbridge (3)	£150,000	0	0	£150,000
Radcliffe-on-Trent Masterplan (4)	£1,000,000	0	0	£1,000,000
Sub Total	£1,470,000	£450,000	£765,000	£2,685,000

Project Appraisal Forms

Project Name: Car park resurfacing (Needham Street and Rushcliffe Country Park )

Cost Centre: 0325

Reference: 1

Project Lead: Property Services Manager

Request for Project from: Property Services Team

Detailed Description:

Existing macadam surfaces are approx. in excess of 20 yrs old and wearing course is failing; various holding repairs have been carried out to extend current life. Proposal is to plane-off and replace macadam finishes including replacement line markings to maintain the facilities in good order.

Location: Needham Street, Bingham and Rushcliffe Country Park, Ruddington

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Maintain and enhance our residents' quality of life
Transforming the Council to enable the delivery of highly efficient high-quality services

Strategic Commitments:
Examine the future viability of all Council owned assets including property and equipment.
Improve efficiency and reliability of service and reduce operating costs.

Community Outcomes: Improvement works will enhance customer experience/perception and minimise short term maintenance costs.

Environmental Outcomes: Wholesale resurfacing will mitigate the requirement for ongoing pothole and other incidental repair work which are an inefficient use of resources and result in higher carbon emissions

Other Options Rejected and Why: Do not resurface the car parks – this would result in lower customer experience/perception of the facility and miss an opportunity to minimise operational costs.

Procurement route proposed and stage: Either via Framework or dedicated open tender – identified scheme cost is based upon similar works carried out recently.

Project Management Office support required?: No

Start date: January 2027

Completion date: March 2027

Capital Cost (total):

Year 1: £200,000

Capital Cost Breakdown

Works: £182,000
Equipment: £0
Other: £0
Fees: £18,000

Revenue cost per annum

Year 1: 2026/27 - Not stated
Year 2: 2027/28 - Not stated
Year 3: 2028/29 - Not stated
Year 4: 2029/30 - Not stated
Year 5: 2030/31 - Not stated

Proposed Funding

External: not applicable
Internal: Organisation Stabilisation Reserve

Useful Economic Life: 20 years

New or Replacements: Replacement

Depreciation per annum: £10,000

Capital Financing Costs: £7,500 per annum

Residual Value: not applicable

Category of Asset: Operational Land and Building

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Public Open Space enhancement Waltham Close WB

Cost Centre: 0181

Reference: 2

Project Lead: Property Service Manager

Request for Project from: Design and Landscape Officer

Detailed Description:

The proposal is for improvement works to a little used and unattractive area of public open space located between properties on Waltham Close and Nearsby Drive which is in the ownership of the Council. The open space includes a disused play area, random shrubs, turf and hard surfacing which are which are unattractive and reflect poorly on adjacent housing. Improvements planned include reduction to the paved areas to create focused pathways bordered by green areas laid to turf enabling easier regular maintenance.

Location: West Bridgford

Director: Development and Economic Growth

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life – improvements will encourage use of the area/pathways by the public and help to deter anti-social use.
Efficient Services – improvements will help to streamline and simplify maintenance activity.
Sustainable Growth
The Environment – reduction in paved area will improve drainage of the area.
Strategic Commitments:
Protecting our residents and assets
Protecting our natural resources and to implement environmentally beneficial infrastructure changes
Protecting the environment and public health by fulfilling our statutory responsibilities

Community Outcomes: Improvements will encourage legitimate use of the space and pathways by the public and enhance the local area which currently appears neglected and unwelcoming.

Environmental Outcomes: Improvements will minimise hard surfaced areas and increase planted/turfed areas, this will improve local drainage and enhance biodiversity. The area will be easier to maintain which in turn will help to minimise carbon intensive maintenance activity.

Other Options Rejected and Why: Do nothing – the open space would remain unattractive detracting from the local area, underutilised and more costly to maintain.

Procurement route proposed and stage: Closed tender – current estimate based on quotations received for similar recent schemes.

Project Management Office support required?: No

Start date: April 2027

Completion date: June 2027

Capital Cost (total): £50,000

Year 1 - 2026/27: £0
Year 2 - 2026/27: £50,000

Capital Cost Breakdown

Works: £45,500
Equipment: £0
Other: £0
Fees: £4,500

Revenue cost per annum

Year 1: 2026/27 - not stated
Year 2: 2027/28 - not stated
Year 3: 2028/29 - not stated
Year 4: 2029/30 - not stated
Year 5: 2030/31 - not stated

Proposed Funding

External: Not applicable
Internal: Organisation Stabilisation Reserve.

Useful Economic Life: 20 years

New or Replacements: Replacement

Depreciation per annum: £2,500

Capital Financing Costs: £1,875 per annum

Residual Value: Not applicable

Category of Asset: Infrastructure

IFRS New Lease Checklist Completed: Not applicable

VAT Treatment Assessed: Not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Hammerhead, Moorbridge

Cost Centre: 0944

Reference: 3

Project Lead: Senior Property Estates Surveyor

Request for Project from: Director Development and Economic Growth

Detailed Description:

Purchase of small connecting strip of land to Butt Field from Hofton and Sons, allowing the creation of a new access to Butt Field Sports Pavilion and Playing Fields. Ongoing project to provide new long stay car parking for Bingham Town Centre from this location. Planning permission needed followed by construction project.

Location: Bingham

Director: Development and Economic Growth

Contribution to the Council's aims and objectives

Corporate Priorities:
Efficient Services – ongoing appraisal and alignment of resources linked to growth aspirations.
Quality of Life – working with our stakeholders to create safe communities to live and work in.
Sustainable Growth – nurturing existing businesses.
Strategic Commitments:
Quality of Life – review assets to ensure they meet community/business need.
Sustainable Growth – support the delivery of improved transport infrastructure.

Community Outcomes:

Quality of Life – flourishing town centres
Efficient Services – residents/businesses satisfied with the quality of service.
Sustainable Growth – infrastructure assets delivered.

Environmental Outcomes:

Provides improved access to Sports Club.

Other Options Rejected and Why:

If we do not proceed with the project, the current inadequate access to the Sports’ Club will remain, which may affect future funding bids for Bingham Town Council, and impedes development of a long stay car park.

Procurement route proposed and stage:

Land to be purchased for a £1, followed by planning permission. The works will be procured through Nottinghamshire County Council procurement framework.

Project Management Office support required?: No

Start date: April 2026

Completion date: March 2027

Capital Cost (total): £150,000

Year 1 2026/27: £150,000

Capital Cost Breakdown

Works: £136,000
Equipment: £0
Other: £0
Fees: £14,000

Additional Revenue cost or saving per annum

not stated

Proposed Funding

External: not applicable
Internal: Organisation Stabilisation Reserve

Useful Economic Life: 40 years

New or Replacements: New

Depreciation per annum: £3,750

Capital Financing Costs: £5,625 per annum

Residual Value: not applicable

Category of Asset: Infrastructure

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Radcliffe-on-Trent Masterplan

Cost Centre: 0213

Reference: 4

Project Lead: Senior Property Estates’ Surveyor

Request for Project from: Radcliffe on Trent Masterplan and Economic Growth Strategy

Detailed Description:

The Radcliffe on Trent Masterplan provides a long-term vision for the village but also breaks down that vision into phases. Phase I A & B being deliverable sub-projects to include:

Increase much needed parking provision which will protect and grow retail business and reduce shopper leakage to neighbouring villages/West Bridgford.
Provide additional car parking around the existing Medical Centre to accommodate the increase in demand through population increase.
Regenerate the existing car parking provision.
Strategic Land Purchases to facilitate link to key areas and future proof opportunities for the area.
Provide the village with a modern, designated multi-use village centre which can be used for markets and events.

There is the potential to utilise UKSPF funding if advance survey/design/professional fees are incurred in 2025/26. If this is the case, budget provision will be accelerated from 2026/27.

The scheme will be subject to a Cabinet report in March 2026.

Location: Radcliffe on Trent

Director: Development and Economic Growth

Contribution to the Council's aims and objectives

Corporate Priorities:
The Environment
Quality of Life
Sustainable Growth
Efficient Services
Strategic Commitments:
Recognising opportunities to create vibrant town centres which are attractive and accessible to all.
Working with our partners to create great, safe, and clean communities to live and work in.
Ongoing appraisal and alignment of resources linked to growth aspirations.
Bringing new businesses to the Borough and nurturing our existing businesses helping them to grow and succeed.

Community Outcomes:

Supporting the provision of high-quality community facilities as well as employment opportunities.
Through Partnership Boards which focus on shaping growth at a local level
To provide additional community infrastructure.

Environmental Outcomes:

Working with community and private sector partners as well as our supply chain and making public our commitment to protecting our environment.

Other Options Rejected and Why:

The Council could consider possible larger scale grant funding applications to EMCCA to complete a significant part of the Masterplan; however, timescales are unknown and we are aware that there is significant demand from other Councils with a higher deprivation ratio
than Rushcliffe.
Not providing investment for this scheme may lead to the village centre and Main Street retail contracting (retail vacancies and increased business failure) and see increased shopper leakage to other villages and West Bridgford.

Procurement route proposed and stage:

Main contract will be procured via Nottinghamshire County Council.

Project Management Office support required?: Yes

Start date: January 2026

Completion date: June 2027

Capital Cost (total): £1,000,000

Year 1 2026/27: £1,000,000

Capital Cost Breakdown: to be determined

Works: to be determined
Equipment: to be determined
Other: to be determined
Fees: to be determined

Additional Revenue cost or saving per annum

Year 1: 2026/27: £0
Year 2: 2027/28: If a decision is made to charge for car parking, the 20 new spaces could generate up to £23,800.
And the existing 91 spaces could generate up to £132,000. This income would be partially offset by maintenance/repairs costs.
Possible licence fee for Events up to £5,000.
Year 3: 2028/29: see 2027/28
Year 4: 2029/30: see 2027/28
Year 5: 2030/31: see 2027/28

Proposed Funding

External: Potential use of UKSPF funding if advance survey/design/professional fees are incurred in 2025/26. If this is the
case, budget provision will be accelerated. ROT Parish Council potential indicative input of £165,000 Local CIL
Internal: New Homes Bonus Reserve for the balance of funding required.

Useful Economic Life: Various

New or Replacements: New and replacement

Depreciation per annum: Will vary

Capital Financing Costs: Up to £31,300 per annum being the opportunity costs of lost interest on the RBC capital resources used.

Residual Value: not applicable

Category of Asset: Various

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: This will depend on the transaction.

Approval Required from: Council Budget Setting March 2026

Neighbourhoods

Capital Programme - Neighbourhoods
Neighbourhoods	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate	Total
Vehicle Replacement Programme (5)	£1,868,000	£305,000	£665,000	£1,288,000	£1,983,000	£6,109,000
Recycling Bins	0	£351,000	0	0	0	£351,000
Support for Registered Housing Providers	0	£417,000	£1,617,000	£1,617,000	0	£3,651,000
Hound Lodge - enhancements	£395,000	0	0	0	0	£395,000
Disabled Facilities Grants	£920,000	£920,000	£920,000	£870,000	£870,000	£4,500,000
Keyworth Leisure Centre - enhancements (6)	0	£125,000	0	£200,000	0	£325,000
East Leake Leisure Centre - enhancements (7)	0	£125,000	0	0	0	£125,000
Rushcliffe Arena Enhancements (8)	£450,000	£175,000	0	£35,000	0	£660,000
Play Areas - Special Expense (9)	£100,000	£100,000	£75,000	£75,000	£75,000	£425,000
Gresham Sports Pavilion (10)	£200,000	0	0	0	0	£200,000
Rushcliffe Country Park - enhancements (11)	£25,000	£25,000	£25,000	£25,000	£25,000	£125,000
Rushcliffe Country Park - play area (12)	0	£30,000	0	0	0	£30,000
Lutterell Hall - Special Expense	0	£125,000	£75,000	0	0	£200,000
Warm Homes Grants	£535,000	£525,000	0	0	0	£1,060,000
Edwalton Golf Course Enhancements (13)	£50,000	0	0	0	0	£50,000
West Park & Bridgford Park Tennis court (14)	£50,000	0	0	0	0	£50,000
Storage solution West Park (15)	£30,000	0	0	0	0	£30,000
Keyworth Leisure Centre Intruder alarm & CCTV system (16)	£20,000	0	0	0	0	£20,000
Toot Hill Athletics track	0	0	0	£300,000	0	£300,000
Footpath Improvements The Hook (17)	£50,000	0	0	0	0	£50,000
Empty Home Compulsory purchase order (18)	£250,000	0	0	0	0	£250,000
Grants for Football Facilities (19)	£200,000	£200,000	0	0	0	£400,000
Sub Total	£5,143,000	£3,923,000	£3,377,000	£4,410,000	£2,953,000	£19,806,000

Project Appraisal Forms

Neighbourhoods

Project Name: Vehicle Replacement

Cost Centre: 0680

Reference: 5

Project Lead: Fleet and Vehicle Infrastructure Manager / Service Manager Neighbourhoods

Request for Project from: Rolling Vehicle Replacement Programme.

Detailed Description:

The authority owns vehicles ranging from large refuse freighters to small vans and items of mechanical plant. As these vehicles and plant age and become uneconomic to maintain and run, they are replaced on a new for old basis. Although there is a programme for replacements for the next ten years, each vehicle or machine is assessed annually, and the programme is continually adjusted to take account of actual performance and monitoring of repair and maintenance costs. This provision will be used to acquire new vehicles and plant, undertake refurbishments to extend vehicle life and value and to purchase second-hand vehicles and plant as and when appropriate. There is a concentration of focussing on newer cleaner technology as we replace existing fleet vehicles in line with the Council’s Carbon management agenda, exploring alternatives such as electric and hydrogen cell technology as well as alternative fuel use to look at cutting down on emissions whilst ensuring the vehicles remain operationally viable and offer value for money. At present the Council is a user of Hydrogenated Vegetable Oil (HVO) on much of its large fleet where appropriate.

The 2026/27 programme includes £1,250,000 for the acquisition of 9 new Food Waste Collection vehicles as part of Simpler Recycling legislation to be introduced in October 2027.

Location: Eastcroft Depot

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Strategic Commitments:
Working with our partners to create great, safe, and clean communities to live and work in.
Ongoing appraisal and alignment of resources linked to growth aspirations.
Reviewing our policies and ways of working to protect natural resources, and to implement environmentally beneficial infrastructure changes. To reduce waste and increasingly reuse and recycle to protect the environment for the future.
Working with key partners to respond to any proposals from the new Environment Act and any changes or directives from central government regarding what wastes should be collected and how including the Simpler Recycling legislation in place.
Delivering a high-quality waste and recycling collection service.
Delivering a high-quality street cleansing, grounds maintenance and arboriculture service.
A commitment to look at cleaner vehicles in line with our commitment to protect the environment, in particularly alternative fuel vehicles or the use of alternative fuels.
Working to achieve a carbon neutral status for the Council’s operations.

The replacement of vehicles is critical to the performance of the front-line services. Regular vehicle and plant replacement with new updated engines help to meet climate change and national indicator targets for emissions and helps maintain a cleaner air quality within the Borough.

Community Outcomes:

To address climate change and the need to reduce carbon emissions. The introduction of new euro standard engines will lower emissions. The new vehicles will also reduce maintenance costs on the vehicles they replace however it should be noted that the remainder of the fleet ages and therefore the fleet profile and maintenance costs overall remain stable.
Glass Recycling – the addition of a kerbside glass recycling service should see a high take up from residents and increased resident satisfaction with waste and recycling services. Data suggest that take up rates are high for such services, preventing the need to travel and visit recycling bring sites and increasing recycling rates.

Environmental Outcomes:

The Council is actively looking at newer cleaner technologies and is committed to working with others to consider options and procure newer vehicles that will help commit to our carbon management plan. Whilst larger HGV electric vehicles may not be an
option for Rushcliffe due to the range and geographical nature of our Borough, we continue to use alternative fuels such as the use of Hydrogenated Vegetable Oil (HVO) following a trial in late 2021. Much of the larger fleet is now using HVO on a daily basis with potential 90% reduction in emissions and the operational logistics and infrastructure arrangements as well as the costs of fuelling our vehicles utilising HVO. Smaller fleet vehicles such as small vans, etc could be replaced by electric vehicles which are readily
available, and this option will be considered as and when such vehicles are due for replacement in line with the replacement programme. The introduction of EV charging points at Bingham (Streetwise) will further facilitate the use of electric vehicles and we
have invested in a number of smaller electric vehicles in 2025/2026.
Glass Recycling – it is likely we will see an increase on overall tonnage collected and further diversion of glass from the residual waste bin. Glass is colour separated and fully recycled back into glass bottles and jars and an increase in the overall recycling rate will also be seen.

Other Options Rejected and Why:

An historic review was undertaken to consider the leasing and hiring in of vehicles. Due to the level of capital resources, it was concluded that it was uneconomical to do either of these two options but as resources are reduced, these options may need to
be revisited again. However, there are also distinct advantages in direct purchase:

The authority has control over the maintenance of the vehicles.
It is difficult to change the terms and conditions of a lease.
High performing vehicles can have their lifespan lengthened.
Poor performing vehicles can have their lifespan shortened.

Not being tied into lengthy lease/hire contracts means the service can react and adapt to change quickly.

It should be noted that the transition of Streetwise back to an in-house service sees some vehicles used, tied into current lease arrangements which continue to be assessed for outright purchase.

The Council now actively looks at the possible purchase of secondhand vehicles and will refurbish vehicles to extend their life and value.

Glass Recycling – whilst the Council has previously collected glass from a range of bring sites, the new Simpler Recycling legislation places a statutory service for collection of glass from the kerbside by April 2026 and the Council's new service commenced in December 2025.

Procurement route proposed and stage:

Vehicles likely to be procured through existing vehicle procurement frameworks as part of the wider Nottinghamshire Transport Group contracts. Containers required will be through frameworks in place working in conjunction with Nottinghamshire County Council procurement team.

Project Management Office support required?: No

Start date: Ongoing

Completion date: Ongoing

Capital Cost (total): £2,173,000

Year 1 2026/27: £1,868,000
Year 2 2027/28: £305,000

Capital Cost Breakdown

Works: £0
Equipment: £2,173,000
Other: £0
Fees: £0

Revenue cost or savings per annum

Year 2: 2026/27 £129,400
Year 3: 2027/28 £770,700
Year 4: 2028/29 £1,423,800
Year 5: 2029/30 £1,450,000
Year 6: 2030/31 £1,479,000

As each vehicle replaces an existing vehicle, there is no increase in the overall revenue costs. Whilst newer vehicles can lead to less expenditure on breakdown and repair, older vehicles will cost more. The overall fleet profile remains relatively constant and therefore
service budgets remain the same. However, with property growth and the potential impact on waste collections as a result of the Environment Act, there is the likelihood moving forward that additional revenue expenditure may be incurred, and this will need to be considered for future budget years. The introduction of mandatory weekly food waste collections (due October 2027) means additional vehicles and staff will be required leading to additional revenue costs.

The costs will primarily be met by Government Grant (new burdens funding, grants and Extended Producer Responsibility (EPR) payments) with any shortfall to be covered from the Simpler Recycling Reserve.

Proposed Funding

External: Government Grant £819,000
Internal: Capital Receipts, Vehicle Replacement Reserve, and Simpler Recycling Reserve.

Useful Economic Life: Various

New or Replacements: New and replacements

Depreciation per annum: Various

Capital Financing Costs: £70,000 per annum in year 1 plus £11,000 per annum in year 2 as opportunity cost of lost interest on outlay of capital resources.

Residual Value: Various

Category of Asset: Vehicle and plant

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Keyworth Leisure Centre (KLC) Enhancements

Cost Centre: 0402

Reference: 6

Project Lead: Team Leader Leisure Contracts, Sport and Health and Communities Manager

Request for Project from: Property Services Manager

Detailed Description:

£125,000 has been included in the 27/28 Capital Programme for the replacement of the 13-year old boiler at KLC. The existing gas boiler will be replaced with an Air Source Heat Pump in line with the corporate commitment to decarbonisation.

Location: Keyworth Leisure Centre

Director: Development and Economic Growth / Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Sustainable Growth
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Ensuring well maintained facilities to support growing populations and increased usage.
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.
Working to achieve carbon neutral status for the Council’s operations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents' health and facilitate healthier lifestyle choice.

Environmental Outcomes:

Material selection, wherever possible locally sourced, carbon efficient production, longevity of materials will be considered when selecting finishes.

Other Options Rejected and Why:

Do not replace the boiler – this will result in an unreliable heating and hot water supply at the leisure centre, increasing maintenance costs and repairs, and leading to customer dissatisfaction. Not replacing the gas boiler will result in carbon emissions, preventing the
council achieving their net zero by 2030 ambitions.

This may also lead to loss of customers resulting in a less efficient service and not be in line with the commitments made in the Leisure Strategy refresh which was adopted by Cabinet in December 2022.

Procurement route proposed and stage:

Framework or Nottinghamshire County Council tender.

Project Management Office support required?: The scheme is being delivered through internal project management through Team Leader Leisure Contract, Sport and Health.

Start date: 2027

Completion date: 2028

Capital Cost (total): £125,000

Year 1 2026/27: not applicable
Year 2 2027/28: £125,000

Capital Cost Breakdown

Works: not applicable
Equipment: £125,000
Other: not applicable
Fees: not applicable

Revenue cost per annum

Year 1: 2025/26: not applicable
Year 2: 2026/27: not applicable
Year 3: 2027/28 Gas consumption will be reduced from this point onwards, but unable to predict at this point
Year 4: 2028/29: not applicable
Year 5: 2029/30: not applicable

Proposed Funding

External: not applicable
Internal: Climate Change Reserve

Useful Economic Life: 15 years

New or Replacements: Replacement

Depreciation per annum: £8,300

Capital Financing Costs: £4,700

Residual Value: not stated

Category of Asset: Vehicle Plant and Equipment

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: East Leake Leisure Centre Enhancements

Cost Centre: 0686

Reference: 7

Project Lead: Team Leader Leisure Contracts, Sport and Health

Request for Project from: Team Leader Leisure Contracts, Sport and Health / Communities Manager

Detailed Description:

This scheme is to enhance East Leake Leisure Centre when the PFI arrangement ends. Whilst the PFI requires the centre to be handed back with a determined lifespan remaining on assets, mechanical & electrical installations and fixtures and fittings, it is anticipated that
some cosmetic enhancement to aid with rebranding from the incumbent operator Mitie to bring the centre in line with other RBC leisure facilities will be required. The precise use of the funds will be better understood as the PFI dilapidation and handover surveys are
completed in Summer 2026 and there is clarity on the standard of assets being handed back. Works may include decoration, flooring, replacement lighting, new signage, enhanced audiovisual equipment and public realm items to improve the attractiveness of the centre,
alongside renewable energy schemes, in agreement or partnership with East Leake academy / Nottinghamshire County Council.

Location: East Leake

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Sustainable Growth
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Ensuring attractive and well-maintained facilities to support growing populations and increased usage
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.
Working to achieve carbon neutral status for the Council’s operations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need. ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

Material selection, wherever possible locally sourced, carbon efficient production, longevity of materials will be considered when selecting finishes.
Upgrades to lighting and mechanical building elements will look to use low energy technology wherever feasible.

Other Options Rejected and Why:

Do not carry out any enhancement and accept the centre exactly as passed back – this would fail to optimise ability to rebrand to the community and modernise the offer to attract new customers, thus limiting the financial success of the centre. Failure to invest may be detrimental to the visual appearance and diminish customer experience and satisfaction.

Procurement route proposed and stage:

Once the works packages are known the services or products will be procured either as a series of small lots or individual items, or as a single enhancement package, in line with the council’s procurement policy and financial regulations, through seeking 3 quotes or tender as appropriate.

Project Management Office support required?: No - These works will be managed by the Team Leader Leisure Contracts, Sport and Health.

Start date: 2027

Completion date: not stated

Capital Cost (total): £125,000

Year 1 2026/27: not applicable
Year 2 2027/28: £125,000

Capital Cost Breakdown

to be determined

Revenue cost per annum

not stated

Proposed Funding

External: not applicable
Internal: Leisure Centre Maintenance Reserve

Useful Economic Life: 10 years

New or Replacements: New and replacement

Depreciation per annum: £12,500

Capital Financing Costs: £4,700 per annum

Residual Value: not stated

Category of Asset: Operational Land and Building

IFRS New Lease Checklist Completed: Checked, will no longer be a leased asset.

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Rushcliffe Arena Enhancements

Cost Centre: 0415

Reference: 8

Project Lead: Team Leader Leisure Contracts, Sport and Health / Communities Manager

Request for Project from: Team Leader Leisure Contracts, Sport and Health / Communities Manager

Detailed Description:

A provision of £450,000 has been made in 2026/27 for Heating and Ventilation Strategy works to Sports Hall and Studio 3; roof enhancements on Sports Hall and Studio 3; and works to address the low wall in the old bowls hall. The estimated breakdown for this £450K is:

£50,000. Bowls Hall/Studio 3 low wall
£200,000. Roof works
£200,000. Ventilation Strategy Enhancements A provision of £175,000 has been included in the 2027/28 capital programme to replace the gas boilers and Combined Heat Pump with Air Source Heat Pump solution.

Location: Rushcliffe Arena, West Bridgford

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Sustainable Growth
Strategic Commitments:
Ensuring well maintained facilities to support growing populations and increased usage
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Protecting our residents’ health and facilitating healthier lifestyle choices.

Community Outcomes:

Well maintained health and wellbeing facilities enabling residents to make healthier lifestyle choices.

Environmental Outcomes:

Material selection, wherever possible locally sourced, carbon efficient production, longevity of materials will be considered when selecting finishes.
Upgrades to mechanical building elements will look to use low energy technology wherever feasible.

Other Options Rejected and Why:

Retain the low wall around the old bowls rink as current.
The low wall creates a hazard as users attempt to step over the wall. It restricts access onto the floor space with only 4 wider ramped disability access points. It limits the true multifunctional purpose of the space.

Don’t invest in roof and ventilation strategies.
If repairs are not carried out the roofs may deteriorate further and current leaks will worsen, additionally roofs in poor condition may prevent installation of renewable energy such as solar panels in the future. As studio 3 has changed in use from a bowls hall to a
multifunctional activity, fitness and conference space since built, the existing mechanical ventilation strategy leaves the venue very uncomfortable for certain events, particularly those where the space is full of people moving about/dancing/working out such as group exercise, conference, party and awards events. This results in negative experience for customers.

Procurement route proposed and stage:

Wall – Three quotes. Not started.
Roof and ventilation strategy - NCC tender or framework. Not started

Project Management Office support required?:

No, these projects will be led by the Communities Team.

Start date: 2026

Completion date: 2028

Capital Cost (total): £625,000

Year 1 2026/27: £450,000
Year 2 2028/29: £175,000

Capital Cost Breakdown

Works: £595,000
Equipment: not applicable
Other: not applicable
Fees: £30,000

Revenue cost per annum

None

Proposed Funding

External: not applicable
Internal: Regeneration and Community Projects Reserve and Climate Change Reserve

Useful Economic Life: Remaining life of Arena building.

New or Replacements:

Wall 15 years
Roof 25 years
Ventilation 25 years

Depreciation per annum:

Wall £3,300
Roof £8,000
Ventilation £8,000

Capital Financing Costs: £23,450 per annum

Residual Value: not applicable

Category of Asset: Operational Land & Building and Plant

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Play Areas West Bridgford - Special Expense

Cost Centre: 0664

Reference: 9

Project Lead: Communities Manager

Request for Project from: Rushcliffe Play Strategy

Detailed Description:

West Park Junior Play Area will be accelerated from the 2026/27 capital programme to 2025/26 to cover the estimated cost of £60,000.

The remainder of the 2026/2027 programme will not necessarily focus on a one out and one in project but will instead be informed by undertaking a full audit of all the special expenses play provision and safety surfacing across all sites and aim to replace end of life equipment and surfacing across multiple sites instead of focussing on one of the lesser used sites.

The replacement equipment and surfacing will aim to be more inclusive following the refreshed play strategy guidance and will also take pressure off the revenue repairs budget over the financial year.

2027/28

The Hook Toddler and Junior Play have been identified as the next play areas that require refurbishment, these play spaces are incredibly popular but are large play areas so work will be done to maximise funding to do a full refurbishment of the spaces including the surfaces to ensure that areas remain fit for purpose.

Location: West Bridgford

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities
Quality of Life
Efficient Services
The Environment
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents.
Creating opportunities for young people to realise their potential.
Delivering a scheme refurbishment identified within the Rushcliffe Play Strategy.
Working to achieve carbon neutral status for the Council’s operations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.
To provide a facility to engage with young people who may otherwise not take part in formal sports or physical activity.

Environmental Outcomes:

The tender process will take into consideration supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable play facility for the community.

Other Options Rejected and Why:

Doing nothing would result in increased maintenance costs for ageing equipment, reduced appeal of the play areas leading to lower levels of use and be inconsistent with the vision of high-quality parks and leisure facilities. A lack of replacement programme would over time lead to an increased health and safety risk.

Procurement route proposed and stage:

ESPO Framework tender for larger schemes that has the 12 leading play manufacturers on it. The procurement will be supported by Nottinghamshire Councils procurement team and project managed by VIA East Midlands.

Project Management Office support required?: Yes

Due to lack of internal capacity or expertise within the Property and Estates team we propose to use the tried and trusted project management relations established with VIA East Midlands over the last 5 years, who provide procurement and project management support through to completion.

Start date: April 2026

Completion date: March 2028

Capital Cost (total): £200,000

Year 1 2026/27: £100,000
Year 2 2027/28: £100,000

Capital Cost Breakdown

Works: £182,000
Equipment: not applicable
Other: not applicable
Fees: £18,000

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: Regeneration and Community Projects Reserve (Special Expense)

Useful Economic Life: 15 years

New or Replacements: Replacement and new

Depreciation per annum: £6,700 2025/26, plus £6,700 2026/27

Capital Financing Costs: Nil as funds raised through West Bridgford Special Expense

Residual Value: not applicable

Category of Asset: Operational Land and Buildings / Equipment

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Gresham Sports Pavilion Enhancements

Cost Centre: 0347

Reference: 10

Project Lead: Communities Manager

Request for Project from: Communities Manager / Leisure Strategy

Detailed Description:

The below proposals at Gresham have been set out in priority order for funding with any underspend being used to work down the list of identified schemes

Legionella

The priority issue to address at Gresham Sports Park is the ongoing Legionella issues experienced on site to ensure public safety, improve service continuity and loss of changing rooms when a positive reading is confirmed. We also wish to reduce costs related to excessive flushing and external contractor if we can achieve a stabilised system, which will in turn improve staffing productivity.

The proposal is to implement the recommendations of the NBS Legionella investigation and site survey report: namely the heating and system and local temperatures conditions, the ventilation air handling unit, local extract ventilation, cold water pipework insulation, pipework routing and segregation. The immediate actions are to review and rationalise the temperature control strategy, reduce TRV settings in changing rooms, improve ventilation control TRVs and stabilise the cold-water supply and integrated controls.

The NBS report does not give a budgetary estimate for these works so a high-level estimate of £100,000 has been used for budgetary purposes. We have requested a high-level estimate breakdown of costs from NBS.

Solar PV and Carbon Reduction

As part of the Council’s Carbon reduction programme commitments and to reduce the electrical bills officers have commissioned GEP Environmental to undertake a heat decarbonisation plan. The majority of the decarbonisation actions are cost prohibitive and will not be taken forward.

However, as a minimum to contribute to our carbon reduction commitments and reduce energy costs we would like to proceed with the solar PV on the roof without battery storage. The capital cost for the installation of the solar is estimated at £77,671 and is set out in the below table less the battery storage.

Calculations and assumptions

Design and Engineering - £3,393
Main equipment capital - £33,930
Installation and commissioning - £23,751
Project delivery - £6,786
Contingency - £9,811
Battery Storage -£30,250
Total Costs - £107,921

Catering Concession

Officers have, in principle, been offered a grant of up to £50,000 from the Football Foundation Catering Unit Grants Funding | Grassroots Football This has been a continual request from users of the site due to the current location of the meeting room. It is estimate to cost £25,000 including fees to create a concrete pad for the unit and connect foul drainage.

Classroom

We have been approached by a number of external operators about setting up teaching football academy onsite and this would provide a significant additional revenue stream on site and increase daytime usage bring the site up to almost 100% occupancy over the 7 days per week. This would require the reduction of two changing rooms which is something the football foundation have been resistant of in the past but are now in support of as per the below design. This would also have an ancillary benefit to legionella by reducing the showers on site by two changing rooms ensure the other rooms are busier and the turnover is increased in the other rooms.

Estates Proposal

The proposal is for a scheme of upgrade works to the shower areas within individual changing rooms – existing finishes which predominantly comprise ceramic wall and floor tiles are circa 15 years old. They are visually unappealing and expensive to maintain. The planned upgrade would introduce a modern seamless resin finish to floors and an acrylic panelling system to the walls, thereby improving the visual appearance and simplifying maintenance.

Location: Gresham Sports Pavilion

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

Number of leisure users
Satisfaction of leisure users
Participation in sport figures
Quality of facility

Environmental Outcomes:

The planned upgrade work will result in safe more efficient showers and water systems reduction the health risks on site, it is also hoped to reduce the water flushing of a cube of water per changing room per week.
The solar pv will reduce the carbon footprint of the building

Other Options Rejected and Why:

Doing nothing would fail to address the ongoing legionella issues on site and not contribute to our carbon reduction strategy on site.

Procurement route proposed and stage:

Open tender for the legionella, Framework for the solar PV, quotes for the supply of services to the huddle spot.

Project Management Office support required?:

Yes. The Corporate Projects Support Officer is supporting the catering grant application.

Start date: May 2026

Completion date: August 2026

Capital Cost (total): £200,000

Year 1: 2026/27: £200,000

Capital Cost Breakdown - to be determined

Works: not stated
Equipment: not stated
Other: not stated
Fees: not stated

Revenue cost or savings per annum

Not quantifiable at this stage but should see revenue spend on repair work reduce.

Proposed Funding

External: Potential funding from the Football Foundation for the Catering Concession.
Internal: Regeneration and Community Projects Reserve.

Useful Economic Life: 10 years

New or Replacements: Replacement

Depreciation per annum: £20,000

Capital Financing Costs: £7,500 per annum

Residual Value: not applicable

Category of Asset: Operational Land Buildings and Plant

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Rushcliffe Country Park Enhancements

Cost Centre: 0504

Reference: 11

Project Lead: Communities Manager

Request for Project from: Neighbourhoods Feedback / Communities Manager

Detailed Description:

Rushcliffe Country Park will be 32 years old in 2026 and up to 2022 had a passive management of the paths, by filling potholes and spreading some material in worn areas over the last 30 years.

In 2022 the council began to proactively manage the 8km of paths by undertaking some path resurfacing work. This has enabled a specialist contractor to tackle the poorest and most heavily trafficked paths sections in the park in priority order to improve the overall quality and longevity of these sections. It also has re-instated the camber in the paths to support rainwater runoff and tackled stretching in sections where the path appears bigger than intended so the path return to its original intended state.

In more recent years this work has been supplemented with UKSPF funding to improve access as part of our Equality and Inclusion efforts and to meet the commitment of the Rushcliffe Leisure Strategy priorities to “maintain the existing local standards for provision of open space,” and “creating more outdoor wellbeing opportunities including walking and cycling throughout the borough”.

The works in 2026/27 and 2027/28 will, amongst other areas, focus on the orbital path around the lake with the aim to provide as inclusive a surface as possible for those visiting the park with mobility issues and compliment the café areas and Changing Places toilet provision.

The country park has seen massive increase in recent years post Covid in the popularity of both the adult and junior Parkrun events with a consistent 500 to 600 taking part in the adult Parkrun event and between 100 to 150 taking part in junior park run event which are a free event held on a weekly basis every week of the year.

This is fantastic in the health outcomes it achieves for the residents of the borough but inevitably has an impact on the quality of the footpath so the need for investment to continue this work has never been greater.

Location: Rushcliffe Country Park, Ruddington

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

The tender process will take into consideration supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable outdoor facility for the community.

Other Options Rejected and Why:

Doing nothing would put at risk the operational performance and efficiency of the facility, reducing customer experience and satisfaction and, in turn, reduce revenue income.

Procurement route proposed and stage:

We would aim to get three quotes for the surfacing but have struggled in the past with getting three companies to quote.

Project Management Office support required?:

It is envisaged that this project will be managed by the Country Park Manager with the support of the Communities Manager in house.

Start date: April 2026

Completion date: March 2028

Capital Cost (total): £50,000

Year 1: 2026/27: £25,000
Year 2: 2027/28: £25,000

Capital Cost Breakdown - to be determined

Works: £46,000
Equipment: not applicable
Other: not applicable
Fees: £4,000

Revenue cost or savings per annum

Not stated

Proposed Funding

External: not applicable
Internal: Regeneration and Community Projects Reserve

Useful Economic Life: 15 years

New or Replacements: Replacement

Depreciation per annum: £1,600 for 2026/27 and a further £1,600 for 2027/28 expenditure.

Capital Financing Costs: £1,900 per annum as opportunity cost of lost interest on capital resources used.

Residual Value: not applicable

Category of Asset: Infrastructure

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Rushcliffe Country Park Play Area

Cost Centre: 0412

Reference: 12

Project Lead: Communities Manager

Request for Project from: Neighbourhoods Feedback / Communities Manager

Detailed Description:

Rushcliffe Country Park Play Area Inclusive Enhancements

Rushcliffe Country Park has a 4X (four-cross) cycle track created in 2008. It was designed in collaboration with the Free Riders 4-cross club and council engineers to provide a competition-standard track with jumps and obstacles.

The track is extremely popular with all ages but is a particularly important facility for the council catering for wheeled sports and creating a more challenging environment for older competitive adults.

The track has been enhanced in more recent years by the pump track on boundary road designed as an introduction to the sport.

The track has increased in importance for our sports offer since the inclusion of BMX racing as an Olympic sport in 2008 and its inclusion in the 2028 Los Angeles Olympic games, ensuring that this local provision provides the opportunity for an introduction into the sport.

Although the Bike track has a service maintenance contract in place, £30,000 has been included in the 27/28 capital programme for essential enhancement works to the bike track to ensure that it remains a safe and exciting for all users.

Proposed works

The work will include stabilisation of the burns, ensuring the cut through sections are removed, fencing and signage is improved and topdressing of the track is undertaken.

Our aim is to capture the imagination of every visitor through inventive designs and inclusive play and sports opportunities for all.

Finally, the project aligns with the Rushcliffe Leisure Strategy by providing cycling opportunities to our residents.

Location: Rushcliffe Country Park, Ruddington

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

The tender process will take into consideration supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable play facility for the community.

Other Options Rejected and Why:

Doing nothing would put at risk the operational performance and efficiency of the facility, reducing customer experience and satisfaction and, in turn, reduce revenue income.

Procurement route proposed and stage:

Given the capital values, we will look to get quotes or this work to enable swift completion of the scheme in advance of the summer peak season.

Project Management Office support required?:

No, to save costs, it is proposed that this work will be project managed directly between the Country Park Manager and the Communities Manager.

Start date: April 2027

Completion date: April 2028

Capital Cost (total): £30,000

Year 1 2026/27: £0
Year 2 2027/28: £30,000

Capital Cost Breakdown

Works: £27,000
Equipment: not applicable
Other: not applicable
Fees: £3,000

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: Regeneration and Community Projects Reserve

Useful Economic Life: 15 years

New or Replacements: Replacement

Depreciation per annum: £2,000

Capital Financing Costs: £1,000 per annum as opportunity cost of lost interest

Residual Value: not applicable

Category of Asset: Infrastructure

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Edwalton Golf Course Enhancements

Cost Centre: 0420

Reference: 13

Project Lead: Communities Manager / Team Manager for Leisure Contracts, Sport and Health

Request for Project from: Communities Manager / Team Manager for Leisure Contracts, Sport and Health

Detailed Description:

Works to address climate change resilience measures including:

Building flood prevention measure such as flood protection measures for the pavilion - flood doors, flood bricks, flood gates and raising plug sockets.

Location: West Bridgford

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Sustainable Growth
Strategic Commitments:
Ensuring well maintained facilities to support growing populations and increased usage
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Protecting our residents’ health and facilitating healthier lifestyle choices.

Community Outcomes:

Ensure continued existence of high-quality community facilities to meet community need
Providing facilities to protect residents’ health and facilitates healthier lifestyle choices

Environmental Outcomes:

Protecting assets from flood events resulting in frequent replacement of damaged fixtures and fittings thus reducing waste and environmental impact

Other Options Rejected and Why:

Don’t implement climate change resilience measures.
This will leave the building at increased risk of future flood events. The pavilion has flooded in 2020, 2023, 2024 and 2025. Each time fixtures and fittings must be stripped out and replaced, or dried and professionally cleaned depending on the extent of the flood. This results in cost and closures with associated temporary loss of facilities for the community.

Procurement route proposed and stage:

Three quotes - not started.

Project Management Office support required?:

No, will be managed by the Team Manager for Leisure Contracts, Sport and Health.

Start date: April 2026

Completion date: March 2027

Capital Cost (total): £50,000

Year 1: 2026/27 £50,000
Year 2: not applicable

Capital Cost Breakdown - to be determined

Works: £45,500.
Equipment: not applicable
Other: not applicable
Fees: £4,500

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: Leisure Centre Management Reserve.

Useful Economic Life: 15 years

New or Replacements: New and Replacement

Depreciation per annum: £3,300

Capital Financing Costs: £1,900 per annum

Residual Value: not applicable

Category of Asset: Operational Land and Buildings

IFRS New Lease Checklist Completed: to be assessed

VAT Treatment Assessed: Yes, exercise Option to Tax

Approval Required from: Council Budget Setting March 2026

Project Name: West Park and Bridgford Park Tennis court refreshments - Special Expense

Cost Centre: 0320

Reference: 14

Project Lead: Facilities Manager

Request for Project from: Communities Manager / Leisure Strategy

Detailed Description:

Detailed Description: Works to refurbish the Borough Council’s Tennis court provision at Bridgford Park and West Park. The works will include deep cleaning removing moss and weeds, minor repairs to the porous macadam surface where cracks have appeared or become damaged and the full repaint of the surface and lines on the courts.

Bridgford Park and West Park Tennis courts provision

The perimeter fencing and gates will also be refurbished to align with the new code locks technology installed in the 2025/26

The second redundant tennis court at West Park will no longer be redeveloped due to emerging needs of Nottinghamshire County Cricket Club and their aspiration to develop this space to meet the growing demand for cricket on site.

Location: West Bridgford

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices
Providing high quality community facilities which meet the needs of our residents.
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

Number of tennis courts
Satisfaction of tennis users
Participation in sport figures
Quality of facility

Environmental Outcomes:

The tender process will take into consideration the local supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable outdoor facility for the community.

Other Options Rejected and Why:

Doing nothing would put at risk the operational performance and efficiency of the facility,reducing customer experience and satisfaction and, in turn, reduce revenue income.

Procurement route proposed and stage:

We would aim to get three quotes for the works.

Project Management Office support required?:

No, it is envisaged that this project will be managed by the Facilities and Corporate CCTV Manager with the support of the Communities Manager in-house.

Start date: April 2026

Completion date: March 2027

Capital Cost (total): £50,000

Year 1: 2026/27 £50,000
Year 2: not applicable

Capital Cost Breakdown:

£25,000, £8,000+ VAT for cleaning, minor repairs, and repainting per tennis court. Three tennis courts in total.
£1,000 for the repainting of the code-lock backing plates and fencing repairs.

The remaining balance of £25,000 will be reviewed in light the need for tennis court 2 by cricket development.

Works: £45,500.
Equipment: not applicable
Other: not applicable
Fees: £4,500

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: Capital Receipts in the first instance repayable by a Special Expense annuity.

Useful Economic Life: 8 years

New or Replacements: New and Replacement

Depreciation per annum: £6,250

Capital Financing Costs: Net nil as expenditure covered by a Special Expense annuity

Residual Value: not applicable

Category of Asset: Operational Land and Buildings

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Storage solution West Park - Special Expense

Cost Centre: 0320

Reference: 15

Project Lead: Communities Manager

Request for Project from: Communities Manager

Detailed Description:

Works to provide a long-term storage solution for the Events, Community Safety, and IT equipment which is currently stored at West Park Sports Pavilion since the sale of the Depot on Abbey Road.

The current proposal being explored is to provide a storage solution at Gresham Sport Park in the external store which is not fit for purpose to store football goals and to create a storage unit at Bridgford Park for the storage of town centre events materials

Please see the proposed location of the events storage until in Bridgford Park below. The cabin is being commissioned by Streetwise to provide mess facilities for the parking enforcement team instead of renting.

The below image shows the external equipment store at Gresham Sports Park which will be repurposed to better meet the needs of the council with the existing equipment being relocated elsewhere on site to accommodate the new equipment.

The relocation of this equipment will ensure that West Park sport Pavilion can return to its original purpose of providing changing facilities to meet the growing demand for cricket on the site ensuring that we continue to create opportunities for young people to reach their potential.

Location: West Bridgford

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Efficient Services
Strategic Commitments:
Provide high quality community facilities which meet the needs of our residents
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

The tender process will take into consideration supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable outdoor facility for the community.
The events storage will remove the need for additional vehicle movement transporting event equipment at West Park.

Other Options Rejected and Why:

Doing nothing would put at risk the operational performance and efficiency of the facility, reducing customer experience and satisfaction and, in turn, reduce revenue income.

Procurement route proposed and stage:

Three quotes.

Project Management Office support required?:

It is envisaged that this project will be managed by the Team Manager for Communities and Streetwise Manager with the support of the Communities’ Manager in house.

Start date: April 2026

Completion date: March 2027

Capital Cost (total): £30,000

Year 1: £30,000
Year 2: not applicable

Capital Cost Breakdown:

£10,000 for Parking enforcement cabin
£5,000 for Events Storage Unit
£5,000 removing and making good storage unit at West Park
£5,000 Gresham Sports Park storage repurposing

The remaining balance will be used to take into consideration Community Safety and IT requirements.

Works: £10,000.
Equipment: £15,000.
Other: £3,000
Fees: £2,000

Revenue cost per annum

Year 1: 2026/27 - £25,000

Proposed Funding

External: not applicable
Internal: Capital Receipts in the first instance repayable by a Special Expense annuity.

Useful Economic Life: 15 years

New or Replacements: New

Depreciation per annum: £2,000

Capital Financing Costs: Net nil as expenditure covered by Special Expense annuity

Residual Value: not applicable

Category of Asset: Operational Land and Buildings and Equipment

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Keyworth Leisure Centre Intruder alarm and CCTV system

Cost Centre: 0402

Reference: 16

Project Lead: Team leader Leisure Contract, Sport and Health / Communities’ Manager

Request for Project from: Team leader Leisure Contract, Sport and Health / Communities’ Manager

Detailed Description:

£20,000 has been included in the 2026/27 Capital Programme for the replacement Keyworth Leisure Centre Intruder alarm and CCTV system.

Location: Keyworth Leisure Centre

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Sustainable Growth
Strategic Commitments:
Meeting contractual obligations
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Ensuring well maintained facilities to support growing populations and increased usage

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

Low energy cameras and monitors will be selected.
Where possible, existing infrastructure will be reused, e.g door contact points, sounders and bells and wiring to minimise waste.

Other Options Rejected and Why:

Do not replace the intruder Alarm and CCTV System.

This will breach the council’s lease obligations with Nottinghamshire County Council and the council’s repair and maintenance obligations within the Leisure Services Contract which places full-scale capital replacement of these end-of-life systems on the council.

Failure to meet contractual obligations places a financial and reputational risk on the authority should NCC or Parkwood Leisure insurers fail to make payments against insurance claims due to lack of CCTV or intruder alarm.

Procurement route proposed and stage:

Three quotes.

Project Management Office support required?:

The scheme is being delivered through internal project management through the Team leader, Leisure Contract, Sport and Health.

Start date: April 2026

Completion date: March 2027

Capital Cost (total): £20,000

Year 1: £20,000
Year 2: not applicable

Capital Cost Breakdown: to be determined

Works: not applicable
Equipment: £20,000
Other: not applicable
Fees: not applicable

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: Capital Receipts

Useful Economic Life: 15 years

New or Replacements: Replacements

Depreciation per annum: £1,300

Capital Financing Costs: £750 per annum

Residual Value: not applicable

Category of Asset: Operational Land and Buildings Special Expense

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Project Name: Footpath Improvements The Hook - Special Expense

Cost Centre: 0643

Reference: 17

Project Lead: Communities Manager

Request for Project from: Communities Manager

Detailed Description:

Works to improve the Hook Recreation Ground and nature reserve paths considering the significant development of the Bridge over the river Trent.

The Hook Recreation ground and wider nature reserve has several paths which crisscross the site, the paths range from porous macadam, crushed limestone or grass mown paths.

This project will only focus primarily on the crushed limestone paths along the river Trent in Rushcliffe Borough Council ownership and to connect with the significant strategic investment in the new bridge over the river Trent to ensure walking and cycling opportunities are maximised and ensure strategic alignment with the Trent sports Quarter redevelopments being promoted by EMCCA.

Location: West Bridgford

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
Strategic Growth
Strategic Commitments:
Protecting our residents’ health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Creating opportunities for young people to realise their potential.
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

The tender process will take into consideration supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable outdoor facility for the community.
Careful consideration will also be given to ensure that works compliment the local nature reserve characteristics.

Other Options Rejected and Why:

Doing nothing would put at risk the operational performance and efficiency of the facility, reducing customer experience/satisfaction and considering the significant strategic investment could be reputationally damaging if they leave the end of the new work on to Rushcliffe owned and managed land to be experience potholed and poorly maintained walking and cycling infrastructure.

Procurement route proposed and stage:

We would aim to get three quotes for the surfacing but have struggled in the past with getting three companies to quote.

Project Management Office support required?:

It is envisaged that this project will be managed by the Facilities and Country Park Manager with the support of the Communities’ Manager in house.

Start date: April 2026

Completion date: March 2027

Capital Cost (total): £50,000

Year 1: £50,000
Year 2: not applicable

Capital Cost Breakdown - to be determined

Works: not applicable
Equipment: not applicable
Other: not applicable
Fees: not applicable

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: Capital Receipts in the first instance repayable by Special Expense annuity.

Useful Economic Life: 15 years

New or Replacements: New and Replacement

Depreciation per annum: £3,300

Capital Financing Costs: Net nil as expenditure covered by a Special Expense annuity.

Residual Value: not applicable

Category of Asset: Infrastructure

IFRS New Lease Checklist Completed: to be assessed

VAT Treatment Assessed: Yes, exercise Option to Tax

Approval Required from: Council Budget Setting March 2026

Project Name: Empty Home Compulsory purchase order

Cost Centre: 0428

Reference: 18

Project Lead: Assistant Director of Public Protection/Principal Officer Environmental Health

Request for Project from: Chief Executive

Detailed Description:

This project aims to focus on the 9 most problematic long term empty properties within the Rushcliffe Borough, focusing time and resources into bringing them back into residential use within a three-year timeframe. This is deemed necessary since these properties have been scored as the highest priority on the Empty Property Scoring and Rating Matrix, and all actions in line with the Empty Homes Strategy 2024 – 2029 have been exhausted, including engagement with the homeowners and enforcement actions. It is deemed that without further council intervention these properties may remain empty indefinitely and continue to put a strain on the council’s resources. Furthermore, the empty properties are attracting negative attention and are located in prominent high street locations, which is devaluing for the community.

The project also aims to create a legacy for Rushcliffe Borough Council, as bringing back into use these problematic properties will bring social, regenerative, financial and strategic benefits by reinvigorating the community, in addition to cementing community trust and perception of the council.

It is planned that the properties acquired using CPOs will be disposed of concurrently in a back-to-back acquisition and disposal thus ensuring that the Council does not hold these assets for any length of time. There is a risk that any time delay between acquisition and disposal will have revenue consequences. There could be an opportunity cost of holding the assets, even for a short time, in the form of lost interest on sale proceeds.

Location: Rushcliffe Borough

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life - The visual appearance of the Borough is an important factor in terms of the quality of life felt by residents. Unsightly, neglected and run-down properties contribute to a feeling that a neighbourhood is unsafe which also has a bearing on quality of life.
Efficient Services - Additional charges linked to Empty and Unoccupied homes in the Borough provides additional income which is used to take positive action in this area.
The Environment - Protecting the local environment by minimising environmental crime.
Strategic Commitments:
This project is supported by the Council’s Empty Homes Strategy 2024-2029.

Community Outcomes:

Sense of pride in local area, positive impact on local crime and disorder associated with vacant properties and increase in availability of local housing.
Bringing empty homes back into use improves their appearance and safety of the street
Several properties contained within this project are Listed Buildings. By bringing these back into use local identity and continuity is reinforced and erosion of village character is prevented.

Environmental Outcomes:

Bringing empty homes back into use is more environmentally sustainable than building new houses, which emits high levels of carbon emissions.
By making use of buildings already available we aim to preserve the rural nature of the Borough and safeguards landscape character
A reduction in vacancy related environmental harm including damp, mould, structural decay and pest infestation.

Other Options Rejected and Why:

The Council’s Empty Homes Strategy 2024-2029 outlines the steps that the Council will take to bring empty homes back into use. This project will deal with those empty homes where all informal and low-level enforcement options have failed to bring them back into use and those properties continue to be problematic to the Council and the community

Procurement route proposed and stage:

To be confirmed.

Project Management Office support required?:

Already in place.

Start date: to be determined

Completion date: not stated

Capital Cost (total): £750,000

Year 1: £250,000
Year 2: £500,000

Capital Cost Breakdown - to be determined

Works: not applicable
Equipment: not applicable
Other: not applicable
Fees: not applicable

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: £250,000 initial costs met from the New Homes Bonus Reserve; £500k will be covered from the capital receipt generated through back-to-back purchase/disposals.

Useful Economic Life: not applicable

New or Replacements: New

Depreciation per annum: not applicable

Capital Financing Costs: £9,300 the opportunity cost of lost interest on capital resources used

Residual Value: not applicable

Category of Asset: REFCUS for £250k; no resultant assets from CPO acquired property as bought and sold.

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: To be checked

Approval Required from: Council Budget Setting March 2026

Project Name: Strategic 3G Artificial Turf Pitch and Changing Pavilion Grant Programme for Rushcliffe

Cost Centre: 0677

Reference: 19

Project Lead: Communities Manager

Request for Project from: Communities Manager

Detailed Description:

Grant contribution of a maximum grant of £50,000 to the strategic projects which have been identified in the FA’s Local Football Facilities Plan (LFFP) and the supporting Borough Council’s Playing Pitch Strategy strategic projects.

The grants would be used as the Borough Council’s contribution to Strategic projects as follows:

Regatta Way- West Bridgford
Bingham Area- site to be confirmed
Keyworth- site to be confirmed
Ruddington- Jubilee Field
Cotgrave- site to be confirmed
East Leake-site to be confirmed

In addition, the two-clubhouse refurbishment identified in the LFFP for strategic investment at Keyworth United Platt Lane and Bingham Road Radcliffe on Trent would also be eligible for funding.

The grant pot would be used as match funding alongside successful monies being received from the Football Foundation, Strategic CIL infrastructure funding and the applicants own resources.

The grant would be subject to confirmation of all the necessary planning permissions, grant confirmations and is for capital works only.

The total grant pot available is £400,000 with a maximum of £50,000 towards any single project

Location: Edwalton

Director: Neighbourhoods

Contribution to the Council's aims and objectives

Corporate Priorities:
Quality of Life
Efficient Services
The Environment
Strategic Commitments:
Protecting our residents' health and facilitating healthier lifestyle choices.
Provide high quality community facilities which meet the needs of our residents and contribute towards the financial independence of the Council.
Creating opportunities for young people to realise their potential
Ongoing appraisal and alignment of resources linked to growth aspirations.

Community Outcomes:

To ensure the provision of high-quality community facilities which meet community need.
To protect our residents’ health and facilitate healthier lifestyle choice.

Environmental Outcomes:

The tender process will take into consideration supply chain, Carbon reduction measures from the supplier use of materials to procure the most sustainable outdoor facility for the community.
All projects would require full planning permission and associated Biodiversity Net Gain and ecology assessments

Other Options Rejected and Why:

Doing nothing would put at risk the opportunity to lever in up to 65% strategic funding per project from the football foundation. It also would stall the spending of the Strategic CIL funding which has been allocated to playing pitches across the borough

Procurement route proposed and stage:

Successful project would proceed through the Football Foundation’s Framework tendering exercise and comply with all procurement requirement to achieve the grant funding

Project Management Office support required?:

It is envisaged that this project will be supported by the Borough Council’s Sports Development Officer and Communities’ Manager in conjunction with our external partners at Notts FA and the Football Foundation.

Start date: to be determined

Completion date: not stated

Capital Cost (total): £400,000

Year 1: £200,000
Year 2: £200,000

Capital Cost Breakdown - to be determined

Works: not applicable
Equipment: not applicable
Other: Grants £400,000
Fees: not applicable

Revenue cost per annum

Not stated

Proposed Funding

External: not applicable
Internal: New Homes Bonus reserve.

Useful Economic Life: 40 years

New or Replacements: New

Depreciation per annum: Nil - REFCUS

Capital Financing Costs: £15,000

Residual Value: not applicable

Category of Asset: REFCUS

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: Outside scope of VAT

Approval Required from: Council Budget Setting March 2026

Finance and Corporate Services

Capital Programme - Finance and Corporate Services
Finance and Corporate Services	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate	Total
ICT Replacement Programme (20)	£135,000	£50,000	£50,000	£50,000	£50,000	£335,000
Technical Infrastructure (20)	£65,000	£160,000	£160,000	£160,000	£160,000	£705,000
Digital Strategy (20)	£60,000	£20,000	£20,000	£20,000	£20,000	£140,000
ICT Security (20)	£50,000	0	0	0	0	£50,000
Applications and Apps (20)	£75,000	0	0	0	0	£75,000
Contingency	£100,000	£100,000	£100,000	£100,000	£100,000	£500,000
Finance and Corporate Services Total	£485,000	£330,000	£330,000	£330,000	£330,000	£1,805,000

Project Appraisal Forms

Finance and Corporate Services

Project Name: All ICT Projects

Cost Centre: Various

Reference: 20

Project Lead: Strategic ICT Manager

Request for Project from: Rolling Capital Programme

Detailed Description:

The strategy enables an agile approach to operational delivery, taking advantage of new proven developments. The ICT Technical Delivery Plan details all technical projects, and the schedule for implementation, during the lifetime of the ICT Strategy.

Location: Rushcliffe Arena

Director: Finance and Corporate Services

Contribution to the Council's aims and objectives

Corporate Priorities:
Efficient Services
Quality of Life
Protecting the Environment
Strategic Commitments:
Ongoing appraisal and alignment of resources linked to growth aspirations.
Include digital principles in our communications and ways of undertaking business.
Working to achieve carbon neutral status for the Council’s operations.
Continue to invest in Cloud Services to enhance the Councils Business Continuity Plans and provide support for ‘Smarter Ways of Working’ policies.
People and Technology working together to provide efficiencies and remove barriers to simplify the Council’s operations.

Community Outcomes:

To ensure that we make best use of digital development where appropriate to deliver better services and operate more efficiently.
To enable residents to do business with us in a digital way if that is their preference.
To use public spend in an efficient and economical way.

The ICT Strategy is closely aligned to the Council’s “Four Year Plan” reviews and ICT will be instrumental in delivering the outcomes identified during these reviews. The Strategy will deliver:

People and Smarter Ways of Working.
- With a focus on people and their experience when accessing Council services. Investing time to find the correct and appropriate solution, which provides efficient and economic systems across the Council. To bring people along the journey and promote flexible, remote and agile solutions, and digital transformation programmes that take advantage of self-service initiatives, intelligent automation (IA), and artificial intelligence (AI). Key elements are people and the use of technology as an enabler and improving customer service and experience.
Business Continuity, Cloud Services and Hybrid Technologies
- Continue to improve business continuity arrangements and underpin other strategic objectives and their success. Seek opportunities to use cloud services to improve access and resilience for our residents and staff accessing Council services. Recognising when Hybrid technologies can be used to accommodate for complex and flexible solutions. Currently Cloud Services are not cost effective so in-house solutions are being sourced.
Information Management and Governance, and Security
- To safeguard Council data by ensuring legislative, central government security standards are followed and using security and privacy by design principles.
Think Green
- To be aware of and help achieve local net zero targets from energy efficiency savings when upgrading existing or implementing new systems. To report on energy usage and seek out opportunities to provide positive impact on carbon reduction.
Collaboration and Partnerships
- Continue to work closely with other authorities, establishing effective partnerships to share common challenges for efficient outcomes.

Environmental Outcomes:

When new infrastructure or ICT equipment is procured, power consumption forms part of the decision making when assessing quality of products. The supplier is also reviewed to see what their carbon footprint is and will add to the Council’s carbon reduction target.

Other Options Rejected and Why:

Every project is the subject of a proposal or business case to be presented to, and approved by, the Director for the corresponding Service Area to ensure that the most appropriate IT solution is chosen, having due regard to the alignment of technologies already in use across other local authorities, value for money and resilience. The option of not doing so would lead to outdated or incompatible technology, which would result in lower performance, higher maintenance costs and hinder the drive for greater efficiencies.

Procurement route proposed and stage:

Schemes will be procured in line with procurement rules, utilising the Framework where possible, with open tenders where necessary.

Project Management Office support required?: No

Start date: Ongoing

Completion date: Ongoing

Capital Cost (total): £615,000

Year 1 2025/26: £385,000
Year 2 2026/27: £230,000

Capital Cost Breakdown

Works: not applicable
Equipment: £460,000
Other: £155,000
Fees: not applicable

Revenue cost savings per annum

Not stated

Proposed Funding

External: not applicable
Internal: Regeneration and Community Projects Reserve and Organisation Stabilisation Reserve

Useful Economic Life: 3 years

New or Replacements: New and replacement

Depreciation per annum:

£128,000 in 2026/27, plus
£77,000 in 2027/28

Capital Financing Costs: £23,000

Residual Value: Nil

Category of Asset: Intangible Assets and Equipment

IFRS New Lease Checklist Completed: not applicable

VAT Treatment Assessed: not applicable

Approval Required from: Council Budget Setting March 2026

Capital Programme - Total
Programme Total	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate	Total
Total	£7,098,000	£4,703,000	£4,472,000	£4,470,000	£3,283,000	£24,296,000

Appendix 4 - Use of Earmarked Reserves in 2026/27

Earmarked Reserves
Description	Projected Income	Projected Expenditure	Net Change in Year	Projected Closing Balance
Investment Reserves	-	-	-	-
Regeneration and Community Projects	£363,000	(£1,454,000)	(£1,091,000)	£2,534,000
Sinking Fund - Investments	£200,000	(£120,000)	£80,000	£649,000
Corporate Reserves	-	-	-	-
Organisation Stabilisation	£530,000	(£478,000)	£52,000	£6,411,000
Treasury Capital Depreciation Reserve	0	0	0	£1,310
Climate Change Action	0	(£285,000)	(£285,000)	£531,000
Flood Grant and Resilience	0	0	0	£22,000
Simpler Recycling Reserve	£1,150,000	(£430,000)	£720,000	£1,685,000
Vehicle Replacement Reserve	£685,000	(£300,000)	£385,000	£845,000
LGR Reserve	£1,000,000	(£76,000)	£924,000	£2,014,000
Risk and Insurance	0	0	0	£100,000
Planning Appeals	0	0	0	£340,000
Elections	£50,000	0	£50,000	£201,000
Operating Reserves	0	0	0	0
Planning	0	0	0	£85,000
Leisure Centre Maintenance	£515,000	(£50,000)	£465,000	£498,000
Total Excluding New Homes Bonus	£4,493,000	(£3,193,000)	£1,300,000	£17,225,000
New Homes Bonus	0	(£2,239,000)	(£2,239,000)	£6,144,000
Total Earmarked Reserves	£4,493,000	(£5,432,000)	(£939,000)	£23,369,000

Appendix 5 Transformation and Efficiency Plan

Transformation and Efficiency
Efficiency	2026/27	2027/28	2028/29	2029/30	2030/31	Total
Thematic	-	-	-	-	-	-
Leisure Strategy	(£116,000)	(£485,000)	(£207,000)	-	-	(£807,000)
Crematorium	(£70,000)	(£64,000)	(£40,000)	-	-	(£174,000)
West Park Nottinghamshire County Cricket Club (Special Expense)	(£36,000)	£1,000	£1,000	-	-	(£34,000)
Customer Contact Centre	(£1,000)	(£1,000)	(£1,000)	-	-	(£3,000)
Additional Income	-	-	-	-	-	-
Car Parking	-	-	(£100,000)	-	-	(£100,000)
Green Bin Scheme	(£100,000)	(£100,000)	(£100,000)	(£100,000)	(£100,000)	(£500,000)
Green Bin Scheme (second and subsequent price increase)	(£69,000)	(£71,000)	(£75,000)	(£81,000)	(£85,000)	(£381,000)
Bingham Enterprise	(£8,000)	-	-	-	-	(£8,000)
Cotgrave Phase 2	(£6,000)	-	-	-	-	(£6,000)
Service Efficiencies	-	-	-	-	-	-
Home Alarms Digitalisation	£15,000	(£6,000)	-	-	£2,000	£11,000
Marketing Services	£10,000	-	-	-	-	£10,000
Public Conveniences	(£1,000)	-	-	-	-	(£1,000)
Digital Bin Calendar	(£6,000)	-	-	-	-	(£6,000)
Total	(£386,000)	(£726,000)	(£522,000)	(£181,000)	(£183,000)	(£1,998,000)
Cumulative Savings to date	(£6,658,000)	(£7,044,000)	(£7,770,000)	(£8,292,000)	(£8,473,000)	-
Cumulative Savings carried forward	(£7,044,000)	(£7,770,000)	(£8,292,000)	(£8,473,000)	(£8,656,000)	-

Appendix 6 - Core Spending Power

Funding Breakdown

Funding Breakdown
Funding	2025/26	2028/29	Change
Baseline Funding Level	£5,812,000	£2,284,432	64.08% decrease
Grants Rolled into Revenue Support Grant	£213,616	-	100% decrease
Revenue Support Grant	£1,824,603	£2,504,836	37.28% increase
Better Care Grant	-	-	-
Fair Funding Allocation	£7,850,219	£4,789,268	44.06% decrease
Homelessness Domestic Abuse	£211,660	£663,226	204.78% increase
Families First Partnership	-	-	-
100% income floor protection	-	-	-
95% income floor protection	-	£859,268	-
Recovery Grant	-	-	-
Recovery Grant Guarantee	-	-	-
Government Funding	£8,061,879	£6,311,762	21.71% decrease
Council Tax	£8,739,007	£10,111,229	15.70 increase
Core Spending Power (CSP)	£16,800,886	£16,422,991	2.25% decrease

Core Spending Power per head

Core Spending Power per head
Area	2025/26	2028/29	Change
Rushcliffe	£132.70	£126.63	4.57% decrease
Nottinghamshire	£150.22	£148.29	1.28% decrease
District	£166.57	£169.60	1.82% increase

Appendix 7 - Business Rates Pool

Nottinghamshire Finance Officers Report

Nottinghamshire Business Rates Pool: future pooling arrangements (2026/27 and beyond)

Purpose of the Report

1. To determine whether the Nottinghamshire Business Rates Pool should continue to operate for 2026/27.

Background

2. The Nottinghamshire Business Rates Pool has operated since 2023/14 with all members of Nottinghamshire being part of the pool barring Nottingham City Council and the Nottinghamshire Fire Authority.

3. In that time (to 31 March 2025) £74,600,000 has been retained locally that would otherwise have been paid to MHCLG.

4. Pooling has been a lucrative option for Local Government and has been utilised across the Country since 2013/14. Initially the number of pools (and their size in terms of LAs) was low (less than 10). More recently, as there was a greater understanding of Business Rates Retention and a greater confidence that authorities were going to be above baseline, numbers increased to over 25 pools with nearly 200 local authorities included.

5. This number was drastically reduced to be provisionally continued for the 2026/27 financial year. Only 11 pools signalled their intent to continue prior to the provisional LGFS announcement. It is also anticipated that this would be reviewed further as more information regarding how the system would work was announced as part of the provisional LGFS.

6. As part of the provisional LGFS, the Business Rates system has been reviewed and revamped. Under the previous system as Nottinghamshire County Council’s top-up status exceeded the sum of the District and Borough tariff’s the pool’s overall levy rate was 0%. This meant the 50% levy that would have been due to MHCLG, should there not have been a pool, that each individual District and Borough incurred, would remain within Nottinghamshire. Therefore, where authorities were collecting more in business rates than the set NNDR baseline this triggered a levy to be paid. As the levy rate for the pool was 0% this meant that that levy was not payable to MHCLG, enabling the funds to stay within Nottinghamshire as pooling gains.

7. For 2026/27 there are two significant changes in the Business Rate Retention (BRR) system that impact on the viability of business rate pools:

Full reset of the BRR system:- all authorities will have a new NNDR Baseline amount that is expected to be equal to the amount to be collected – hence there is unlikely to be significant variances between the amount to be collected and the baseline amount. These variances are just as likely to leave authorities above or below the NNDR baseline.
Reform to the levy/safety net system:- For 2026/27 onwards the levy rates have been changed. These are now uniform for all authorities, instead of being linked to top up/tariff status. The new rates being:

Reform to Business Rates levy
Stage	Business rates retention income as a percentage of a local authorities' Baseline Funding Level	Levy rate charged on business rates retention income over Baseline Funding Level
1. Initial growth	100% to 110%	10%
2. Further growth	110% to 200%	30%
3. High growth	200% and over	45%

For the safety net, the level of support has increased in 2026/27 and 2027/28, from 92.5% of Baseline Funding Level (BFL), with the new rates being:

2026/27 safety net guaranteeing 100% of BFL
2027/28 safety net guaranteeing 97% of BFL
2028/29 safety net guaranteeing 92.5% of BFL.

Proposals

8. Due to the changes in the system, it is anticipated that the risks outweigh the rewards in respect of pooling. As baseline funding levels have been adjusted to be more accurate, it is more likely that authorities will need a safety net payment, which would need to be funded by the other authorities in the pool where a pool exists. MHCLG would fund any safety net payments for authorities where they are not in a pool. The example below demonstrates this.

Two authority pool:

Authority A – growth of £200,000
Authority B – below baseline £100,000

Where the authorities are pooled:

Add up, so effectively A gives B £100,000 as it is below the baseline (hence needs the safety net payment)

Total net growth of £100,000, 10% levy, so £10,000 paid in levy to MHCLG

Total net growth retained of £90,000

Where the authorities are not pooled

A has growth of £200,000 hence 10% levy payable to MHCLG – A retains £180,000

B receives £100,000 from MHCLG in safety net payment

Total net growth retained of £180,000 (£90,000 better off not pooling)

9. Based on the above it is therefore proposed that Nottinghamshire would not operate a Business Rates pool for 2026/27. This decision could be reviewed as part of Quarter 1 monitoring in order to understand what the impact of the changes have been on individual authorities, to determine pooling viability in 2027/28.

Recommendations

1. To note the significant benefits of operating the Nottinghamshire Business Rates pool since 2013/14

2. To agree the dissolution of the Nottinghamshire Business Rates pool at the end of 2025/26 and revoke the intent to pool in 2026/27 with MHCLG.

3. To review 2026/27 Business Rates Income levels after Quarter 1 monitoring to determine potential pooling viability in 2027/28

Appendix 8 - Pay Policy Statement 2026/27 - link to the PPS page

1. Introduction

1.1 This Statement sets out the Council’s policies in relation to the pay of its workforce, particularly its Senior Officers, in line with Section 38 of the Localism Act 2011. The Statement is approved by full Council each year and published on the Council’s website demonstrating an open and transparent approach to pay policy.

1.2 This Statement draws together the Council’s policies relating to the payment of the workforce particularly:

Senior Officers
Its lowest paid employees; and
The relationship between the pay of Senior Officers and the pay of other employees.

1.3 For the purposes of this statement ‘pay’ includes basic salary, pension and all other allowances arising from employment.

2. Objectives of this Statement

2.1 This Statement sets out the Council’s key policy principles in relation to pay evidencing a transparent and open process. It does not supersede the responsibilities and duties placed on the Council in its role as an employer and under employment law. These responsibilities and duties have been considered when formulating the Statement.

2.2 This Statement aims to ensure the Council’s approach to pay attracts and retains a high performing workforce whilst ensuring value for money. It sits alongside the information on pay that the Council already publishes as part of its responsibilities under the Code of Practice for Local Authorities on Data Transparency. Further details of this information can be found on the Role and Remuneration webpage.

3. Senior Officers

3.1 For the purposes of this Statement, Senior Officers are defined as those posts with a salary above £50,000 in line with the Local Government Transparency Code 2015. Using this definition Senior Officers within Rushcliffe currently consists of 11 posts out of an establishment of 320 The posts are as follows:

Chief Executive
Director – Finance and Corporate Services (Section 151 Officer)
Director – Development and Economic Growth
Director – Neighbourhoods
Monitoring Officer and Assistant Director of Law, Governance and HR
Assistant Director – Finance
Assistant Director – Economic Growth, Property and Projects
Assistant Director – Planning
Assistant Director – Environment and Communities
Assistant Director – Public Protection
Assistant Director – Corporate Services

4. The Policies

4.1 The Council consults when setting pay for all employees. The Council will meet or reimburse authorised travel, accommodation and subsistence costs for attendance at approved business meetings and training events. The Council does not regard such costs as remuneration but as non-pay operational costs.

5. Pay of the Council’s Lowest Paid Employees

5.1 The total number of Council employees is presently 320. The Council has defined its lowest paid employees by taking the average salary of five permanent staff on the lowest pay grade the Council operates, who are not undergoing an apprenticeship. On this basis the lowest paid full-time equivalent employee of the Council earned £24,521. The Council currently pays £12.71 per hour for its lowest paid employees, but this will increase once the 2026/27 annual pay award is agreed..

5.2 The Council does not explicitly set the pay of any individual or group of posts by reference to a pay multiple. The Council feels that pay multiples cannot capture the complexity of a dynamic and highly varied workforce in terms of job content, skills and experience required. In simple terms, the Council sets different levels of basic pay to reflect differences in levels of responsibility. Additionally, the highest paid employee of the Council’s salary does not exceed 10 times that of the lowest paid group of employees.

5.3 The Head of Paid Service, or their delegated representative, will give due regard to the published Pay Policy Statement before the appointment of any Officers. Full Council will have the opportunity to discuss any appointment of Statutory Officer roles before an offer of appointment is made, in line with the Council’s Officer Employment procedure rules within Part 4 of the Council’s Constitution. Appointment to Director level is via a member employment panel.

6. Additional Payments Made to Chief Officers – Election Duties

6.1 The Chief Executive is nominated as the Returning Officer. In accordance with the national agreement, the Chief Executive is entitled to receive and retain the personal fees arising from performing the duties of Returning Officer, Acting Returning Officer, Deputy Returning Officer or Deputy Acting Returning Officer and similar positions which they perform subject to the payment of pension contributions thereon, where appropriate.

6.2 The role of Deputy Returning Officer may be applied to any other post and payment may not be made simply because of this designation. Payments to the Returning Officer are governed as follows:

for national elections, fees are prescribed by legislation; for local elections, fees are determined within a local framework used by other district councils within the county. This framework is applied consistently and is reviewed periodically by lead Electoral Services Officers within Nottinghamshire. This includes proposals on fees for all staff employed in connection with elections. These fees are available for perusal on the Council’s Election Fees page.

6.3 As these fees are related to performance and delivery of specific elections duties, they are distinct from the process for the determination of pay for Senior Officers. The fees have been reviewed for 2026/27 and agreement made that the fees will increase annually in line with the national pay award.

Appendix to the Pay Policy - Policies on other aspects of pay

Process for setting the pay of Senior Officers

The pay of the Chief Executive is based on an agreed pay scale which is agreed by Council prior to appointment. Changes to this are determined by the Leader, Deputy Leader and Leader of the Opposition, who are advised by an agreed external professional and the Strategic Human Resources Manager.

The pay of all Officers including Senior Officers is determined by levels of responsibility, job content and the skills and experience required. Consideration is also given to benchmarking against other similar roles, market forces and the challenges facing the authority at that time and to maximise efficiency. The pay of these posts is determined through the Chief Executive, or their nominated representative, in consultation with the Strategic Human Resources Manager and in line with the Council’s pay scales and its agreed scheme of delegation.

The Council moved away from the national conditions of service in 1990 and pay scales are set locally.

As with all employees, the Council would look to appoint on the best possible terms to secure the best candidate for the job. However, there are factors that could influence the rate offered to an individual, including the relevant experience of the candidate, their current rate of pay and market forces.

All Senior Officers are expected to devote the whole of their service to the Authority and are excluded from taking up additional business, ad hoc services or additional appointments without consent as set out in the Councils code of conduct.

Terms and Conditions - All Employees

All employees are governed by the local terms and conditions as set out in the Employee handbook on the Intranet.

Local Government Pension Scheme

Every employee is automatically enrolled into the Local Government Pension Scheme. Employer and employee contributions are based on pensionable pay, which is salary plus, for example, shift allowances, bonuses, contractual overtime, statutory sick pay, and maternity pay as relevant.

For more comprehensive details of the local government pension scheme see: Local Government Pension Scheme and Nottinghamshire Pension Fund.

Neither the scheme nor the Council adopt different policies with regard to benefits for any category of employee and the same terms apply to all staff. It is not normal Council policy to enhance retirement benefits but there is flexibility contained within the policy for enhancement of benefits and the Council will consider each case on its merits.

Car Allowances

The Council pays mileage rates at HMRC recommended rates.

Pay Increments

Where applicable pay increments for all employees are paid on an annual basis until the maximum of the scale is reached. The Chief Executive, or their nominated representative, has the discretion to award and remove increments of officers’ dependant on satisfactory or unsatisfactory performance.

Relocation Allowance

Where it is necessary for a newly appointed employee to relocate to take up appointment, the Council may make a contribution towards relocation expenses. The same policy applies to Senior Officers and other employees. Payment will be made against a range of allowable costs for items necessarily incurred in selling and buying a property and moving into the area. The costs include estate agents’ fees, legal fees, stamp duty, storage and removal costs, carpeting and curtains, short term rental etc. The Council will pay 80% of some costs and 100% of others or make a fixed sum available. If an employee leaves within two years of first employment, they may be required to reimburse a proportion of any relocation expenses.

Professional fees

The Council currently meets the cost of professional fees and subscriptions for employees where it is a requirement of their employment or their contract.

Returning Officer Payments

In accordance with the national agreement the Chief Executive is entitled to receive and retain the personal fees arising from performing the duties of returning officer, acting returning officer, deputy returning officer or deputy acting return officer and similar positions which they perform subject to the payment of pension contributions thereon, where appropriate.

Fees for returning officer and other electoral duties are identified and paid separately for local government elections, elections to the UK Parliament and other electoral processes such as referenda. As these relate to performance and delivery of specific elections duties, they are distinct from the process for the determination of pay for Senior Officers

Managing Organisational Change Policy

The Council has a Managing Organisation Change Policy which was originally agreed by Council in March 2007 and is regularly reviewed. The Council also has policies related to redundancy payments which is based on the length of continuous local government service, which is used to determine a multiplier, which is then applied to actual pay.

The policy provides discretion to enhance the redundancy and pension contribution of the individual, and each case would be considered taking into account individual circumstances. Copies of the policies are available on the Council’s website.

Payments on termination

The Council does not provide any further payment to employees leaving the Council’s employment other than in respect of accrued leave, which by agreement is untaken at the date of leaving, or payments that are agreed or negotiated in line with current employment law practices.

Publication of information relating to remuneration of Senior Officers

The Pay Policy Statement will be published annually on the Council’s website following its approval by full Council each year.

Gender Pay gap reporting

The Council publishes its Gender Pay Gap information annually on the Council’s website and on the Government's website.

Appendix 9 - Capital and Investment Strategy 2026/27 - 2030/31

Introduction

The Local Government Act 2003 requires the Council to comply with the CIPFA Prudential Code for Capital Finance in Local Authorities (the CIPFA Code) when carrying out capital and treasury management activities.
The Ministry of Housing Communities and Local Government (MHCLG) has issued Guidance on Local Council Investments that requires the Council to approve an investment strategy before the start of each financial year.
This report fulfils the Council’s legal obligation under the Local Government Act 2003 to have regard to both the CIPFA Code and the MHCLG Guidance.

The Capital Strategy

The Council’s capital expenditure plans are summarised below and forms the first of the prudential indicators. Capital expenditure needs to have regard to:

Corporate objectives (e.g. strategic planning);
Stewardship of assets (e.g. asset management planning);
Value for money (e.g. option appraisal);
Prudence and sustainability (e.g. implications for external borrowing and whole life costing);
Affordability (e.g. implications for council tax);
Practicability (e.g. the achievability of the Corporate Strategy);
Proportionality (e.g., risks associated with investment are proportionate to financial capacity); and
Environmental Social Governance (ESG) (e.g., address environmental sustainability in a manner which is consistent with our corporate policies. This is now a requirement of the Treasury Management Code)

Each year the Council will produce a Capital Programme to be approved by Full Council in March as part of the Council Tax setting.
Each scheme is supported by a detailed appraisal (which may also be a Cabinet Report), as set out in the Council’s Financial Regulations. The capital appraisals will address the following:

A detailed description of the project;
How the project contributes to the Council’s s Corporate Priorities and Strategic Commitments (particularly the Council’s environmental and carbon policies);
Anticipated outcomes and outputs;
A consideration of alternative solutions;
An estimate of the capital costs and sources of funding;
An estimate of the revenue implications, including any savings and / or future income generation potential;
A consideration of whether it is a new lease agreement (IFRS 16);
How the project affects the Council’s Environmental targets;
Any other aspects relevant to the appraisal of the scheme as the S151 Officer may determine.

The appraisal requirement applies to all schemes except where there is regular grant support and if commercial negotiations are due to take place and further reporting to Cabinet or Full Council is therefore required.

From time-to-time unforeseen opportunities may arise, or new priorities may emerge, which will require swift action and inclusion in the Capital Programme. These schemes are still subject to the appraisal process and the Capital Programme will contain a contingency sum to allow such schemes to progress without disrupting other planned capital activity.

Capital Prudential Indicators

Capital Expenditure Estimates

Capital expenditure can be financed immediately through the application of capital resources, for example, capital receipts, capital grants or revenue resources. However, if these resources are insufficient or a decision is taken not to apply resources, the capital expenditure will give rise to a borrowing need. The table below summarises the capital expenditure projections and anticipated financing. The detail behind the schemes are included in the Medium Term Financial Strategy (MTFS) presented to Full Council.

Projected Capital Expenditure and Financing
Category	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Capital Expenditure	£14,186,000	£6,898,000	£5,703,000	£4,472,000	£4,740,000	£3,283,000
Less Financed by:	-	-	-	-	-	-
Capital Receipts	£4,460,000	£325,000	£625,000	£315,000	£915,000	£435,000
Capital Grants / Contributions	£3,720,000	£2,224,000	£3,350,000	£2,487,000	£1,850,000	£870,000
Reserves	£6,006,000	£4,349,000	£1,728,000	£1,670,000	£1,975,000	£1,978,000
Total Financing	£14,186,000	£6,898,000	£5,703,000	£4,472,000	£4,740,000	£3,283,000
Underlying need to Borrow	0	0	0	0	0	0

The key risks to the capital expenditure plans are that the level of grants estimated is subject to change, anticipated capital receipts are not realised / deferred or spend is more than expected in the medium term. we now know New Homes Bonus has been discontinued in the 2026/27 finance settlement.

b. The Council’s Underlying Need to Borrow and Investment position

The Council’s cumulative outstanding amount of debt finance is measured by the Capital Financing Requirement (CFR) which remains a key indicator under the Prudential Code. The CFR increases with new debt-financed capital expenditure and reduces with Minimum Revenue Provision (MRP) and capital receipts used to replace debt. In addition, the CFR will reduce with any voluntary contributions (VRP) made.
The Council also holds usable reserves and working capital which represent the underlying resources available for investment. The Council’s current strategy is to use these resources, by way of internal borrowing, to avoid the need to externalise debt.
The table summarises the overall position regarding borrowing and available investments. It shows a decrease in CFR as the final residual MRP payment in relation to the Arena is made in 2026/27.

Capital Financing Requirement and Investment Resources

Capital Financing Requirement and Investment Resources
Description	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Opening CFR	£10,010,000	£8,362,000	£7,125,000	£6,693,000	£6,381,000	£6,063,000
CFR in year	-	-	-	-	-	-
Less MRP, VRP, IFRS16 MRP	(£1,648,000)	(£1,237,000)	(£432,000)	(£312,000)	(£318,000)	(£325,000)
Closing CFR	£8,362,000	£7,125,000	£6,693,000	£6,381,000	£6,063,000	£5,738,000
Less External Borrowing	-	-	-	-	-	-
Internal Borrowing	£8,362,000	£7,125,000	£6,693,000	£6,381,000	£6,063,000	£5,738,000
Less Usable Reserves	(£33,573,000)	(£32,705,000)	(£33,105,000)	(£32,856,000)	(£30,937,000)	(£30,466,000)
Less Working Capital	(£46,301,000)	(£44,301,000)	(£42,301,000)	(£40,301,000)	(£38,301,000)	(£38,301,000)
Available for Investment	(£71,512,000)	(£69,881,000)	(£68,713,000)	(£66,776,000)	(£63,175,000)	(£63,029,000)

The Council is is currently debt free and the assumption in the capital expenditure plan is that the Council will not need to externally borrow over the period of the MTFS predominantly due to the ability to internally borrow using Community infrastructure Levy (CIL) and S106 monies. Available resources (usable reserves and working capital) gradually reduce with usable reserves being used over the medium term to finance both capital and revenue expenditure. Reserves will decrease further when spending plans are finalised and unknown costs such as those relating to Local Government Reorganisation impact on the Council. Working capital is projected to steadily reduce as S106 monies in relation to education are no longer paid to the Council and monies from developers are released.
Projected levels of the Council’s total outstanding debt are shown below, compared with the capital financing requirement (see above). Statutory guidance is that debt should remain below the CFR, except in the short term. As can be seen from the table below, the Council expects to comply with this. A reducing CFR is also positive as the Council’s underlying need to borrow reduces.

Prudential Indicator: Gross Debt and Capital Financing Requirement

Gross Debt and Capital Financing Requirement
Description	2025/26 Forecast	2026/27 Forecast	2027/28 Forecast	2028/29 Forecast	2029/30 Forecast	2030/31 Forecast
Debt (IFRS16 lease liability)	£2,321,000	£1,848,000	£1,350,000	£1,093,000	£955,000	£811,000
Capital Financing Requirement	£8,362,000	£7,125,000	£6,693,000	£6,381,000	£6,063,000	£5,738,000

Minimum Revenue Provision Policy

MHCLG Regulations require the Governance Scrutiny Group to consider a Minimum Revenue Provision (MRP) Statement in advance of each year. Further commentary regarding financing of the debt is provided in paragraphs 27-32. A variety of options are provided to Councils, so long as there is prudent provision. As with previous strategies, the Council implements the Asset Life Method (Option 3 within the Guidance) with the following recommended MRP Statement:

MRP will be based on the estimated life of the assets, in accordance with Option 3 of the regulations. Estimated life periods within this limit will be determined under delegated powers, subject to any statutory override. (MHCLG revised guidance states maximum asset lives of 40 and 50 years for property and land respectively)

As some types of capital expenditure incurred by the Council are not capable of being related to an individual asset, asset lives will be assessed on a basis which most reasonably reflects the anticipated period of benefit that arises from the expenditure. Also, whatever type of expenditure is involved, it will be grouped together in a manner which reflects the nature of the main component of expenditure and will only be divided up in cases where there are two or more major components with substantially different useful economic lives.

This option provides for a reduction in the borrowing need over approximately the asset’s life.

As well as the need to pay off an element of the accumulated General Fund borrowing requirement, used to fund capital expenditure each year (the CFR), through a revenue charge (the MRP), the Council is also allowed to make additional voluntary contributions (VRP). In times of financial crisis, the Council has the flexibility to reduce voluntary contributions. Once payments in relation to the Arena finish (2026-27) the Council does not envisage making VRP contributions on any other scheme. The CFR table above includes the use of capital receipts to bring the CFR down by funding capital expenditure.

Treasury Management Strategy 2025/26 to 2029/30

The CIPFA Treasury Management Code (2021) defines treasury management activities as:

“The management of the local authority’s investments and cash flows, its banking, money market and capital market transactions; the effective control of the risks associated with those activities; and the pursuit of optimum performance consistent with those risks.

The code also covers non-cash investments which are covered at paragraph 70 below. Under the revised Prudential code, investments are separated into categories for Treasury Investment, Service Investment and Commercial Investment.

The CIPFA Treasury Management Code and the CIPFA Prudential Code require local authorities to produce a Treasury Management Strategy Statement before the start of each financial year.
This Strategy includes those indicators that relate to the treasury management functions and help ensure that the Council’s capital investment plans are affordable, prudent, and sustainable, while giving priority to the security and liquidity of those investments. Treasury Management Practices (TMP 1) sets out the Council’s practices relating to Environmental Social Governance (ESG) and is a developing area.

The Current Economic Climate and prospects for Interest Rates

The impact on the UK from the government’s Autumn Budget, is an influence on the Council’s treasury management strategy for 2026/27. Other influences will include lower short-term interest rates alongside higher medium and longer-term rates, modest economic growth, together with ongoing uncertainties around the global economy, stock market sentiment, and ongoing geopolitical issues.
The Bank of England’s (BoE) reduced the base rate to 3.75% at its meeting in December 2025, down 25 basis points from 4%. This follows multiple cuts during 2025. The Council’s treasury advisors are expecting this downward trend to continue over the medium turn with the next cut anticipated in February 2026 and rates expected to stabilise around 3.25%.
The Consumer Prices Index (CPI) was 3.2% in November, down from 3.8% in September and lower than the 3.5% expected. Core CPI eased to 3.2% from 3.5%, against forecasts of it being 3.6%. The BoE projects inflation to reach the 2% target by late 2026 or early 2027.
The labour market continues to ease with rising unemployment, falling vacancies and flat inactivity. In the three months to October 2025, the unemployment rate increased to 5.1%, while the employment rate slipped to 74.9%. Going forward, the Bank predicts the unemployment rate will remain around 5.0% before trending downwards in 2026 at a gradual pace over the rest of the time horizon.
The table below shows the assumed average interest (which reflects a prudent approach) that will be made over the next five years for budget setting purposes.

Budgetary Impact of Assumed Interest Rate
Category	2026/27	2027/28	2028/29	2029/30	2030/31
Anticipated Interest Rate	3.31%	3.25%	3.00%	3.00%	3.00%
Expected Interest from Investments	£1,263,100	£1,235,200	£1,163,300	£1,091,900	£1,033,900
Other Interest	£54,400	£48,800	£44,300	£39,900	£35,200
Total Interest	£1,317,500	£1,284,000	£1,207,600	£1,131,800	£1,091,900
Sensitivity	-	-	-	-	-
- 0.25% Interest Rate	£82,100	£78,600	£84,700	£77,800	£83,100
+ 0.25% Interest Rate	(£82,100)	(£78,600)	(£84,700)	(£77,800)	(£83,100)

In the event that a bank suffers a loss, the Council could be subject to bail-in to assist with the recovery process. The impact of a bail-in depends on the size of the loss incurred by the bank or building society, the amount of equity capital and junior bonds that can be absorbed first and the proportion of insured deposits, covered bonds and other liabilities that are exempt from bail-in
The Council has managed bail-in risk by both reducing the amount that can be invested with each institution to £10,000,000 and by investment diversification between creditworthy counterparties.

Borrowing Strategy 2026/27 to 2030/31

Prudential Indicators for External Debt

27. The Capital Financing table above identifies that the Council will not need to externally borrow over the MTFS instead choosing to internally borrow. Whilst this means that no external borrowing costs (interest / debt management) are incurred, there is an opportunity cost of using internal borrowing by way of lost interest on cash balances.

28. The approved sources of long term and short term borrowing are:

HM Treasury’s Public Works Loan Board lending facility
National Wealth Fund (formerly UK Infrastructure Bank)
Any institution approved for investments
Any other bank or building societies authorised to operate in the UK
Any other public sector body
UK public and private sector pension funds
Capital market bond investors
Retail investors via a regulated peer-to-peer platform
Special purpose companies created to enable local authority bond issues

Public Works Loan Board (PWLB) borrowing is at Gilts +80 basis points (certainty rate). If applying, there is the need to categorise the capital programme into five categories including service, housing and regeneration (not anticipated). If any Council has assets that are being purchased ‘primarily for yield’ anywhere in their capital programme they will not be able to access PWLB funding.

Other sources of debt finance, in addition to the above, that are not borrowing but may be classed as other debt liabilities are listed below. These options would be subject to due diligence in the event that any are proposed methods to finance Council debt.

- Hire purchase
- Leasing
- Private Finance Initiative
- Sale and leaseback
- Similar asset-based finance

a) Authorised Limit for External Debt

The authorised limit is the “affordable borrowing limit” required by section 3 (1) of the Local Government Act 2003 and represents the limit beyond which borrowing is prohibited. It shows the maximum amount the Council could afford to borrow in the short term to maximise treasury management opportunities and either cover temporary cash flow shortfalls or use for longer term capital investment. It should be set higher than the CFR (see table for Gross Debt and Capital Financing Requirement) plus a safety margin of £10,000,000 to £15,000,000. The limits below satisfy this requirement.

Authorised Limit for External Debt
Description	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Authorised Limit	£20,000,000	£20,000,000	£20,000,000	£20,000,000	£20,000,000	£20,000,000

b) Operational Boundary for External Debt

The operational boundary is the expected borrowing position of the Council during the year. The operational boundary is not a limit and actual borrowing can be either below or above the boundary subject to the authorised limit not being breached. The Operational Limit has been set at £15,000,000 (see table below) and, whilst the Council is not expected to externally borrow over the period of the MTFS, this provides a cushion and gives flexibility should circumstances significantly change.

Operational Boundary for External Debt
Category	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Operational Boundary	£15,000,000	£15,000,000	£15,000,000	£15,000,000	£15,000,000	£15,000,000

The Council's is required to show the maturity structure of borrowing. The Council had no debt and is unlikely to need to borrow over the medium term and if it did, it would only be for small amounts so there is no significant refinancing risks and therefore the limits in the strategy do not need to be restrictive.

The Prudential indicators for debt discussed are shown in the table below:

Prudential Indicators - refinancing risk
Refinancing rate risk indicator	Upper limit	Lower limit
Under 12 months	100%	0%
12 months and within 24 months	100%	0%
24 months and within 5 years	100%	0%
5 years and within 10 years	100%	0%
10 years and above	100%	0%

The Liability Benchmark reflects the real need to borrow and can be seen in the table below. In accordance with the Code this must also be shown graphically (see below). The Council’s CFR is reducing due to MRP repayments, reserves are being used to fund future capital expenditure and working capital / S106 monies are returning to a normal level. As demonstrated by the credit figures below, the Council expects to be a long-term investor and has no need to borrow over the medium term.

Prudential Indicator: Liability Benchmark

Liability Benchmark
Category	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Closing CFR	£8,362,000	£7,125,000	£6,693,000	£6,381,000	£6,063,000	£5,738,000
Less:	-	-	-	-	-	-
Usable reserves	(£33,573,000)	(£32,705,000)	(£33,105,000)	(£32,856,000)	(£30,937,000)	(£30,466,000)
Working capital	(£46,301,000)	(£44,301,000)	(£42,301,000)	(£40,301,000)	(£38,301,000)	(£38,301,000)
Plus minimum investments	£10,000,000	£10,000,000	£10,000,000	£10,000,000	£10,000,000	£10,000,000
Liability Benchmark	(£61,512,000)	(£59,881,000)	(£58,713,000)	(£56,776,000)	(£53,175,000)	(£53,029,000)

The Prudential Indicators for Affordability

Affordability indicators provide details of the impact of capital investment plans on the Council’s overall finances.

a) Actual and estimates of the ratio of net financing costs to net revenue stream

This indicator identifies the trend in net financing costs which include borrowing costs (MRP and IFRS16 interest for Rushcliffe) less investment income, against net revenue income. The purpose of the indicator is to show how the proportion of net income used to pay for financing costs is changing over time.
A credit indicates net interest earned rather than an interest cost. The figures fluctuate over the MTFS period, but all figures after 2026/27 are a credit. This is reflective of the reducing MRP payments, as payments in relation to Rushcliffe Arena finish in 2026/27. There are other non-treasury capital commitments in relation to Rushcliffe Oaks Crematorium and Bingham Arena and Enterprise Centre which give rise to further MRP, but repayments are lower because they are spread over a longer period.
Net revenue streams fluctuate over the period. Following the Fair Funding Review, individual income streams (such as New Homes Bonus) have now been replaced with a single Revenue Support Grant to support transition and provide a funding ‘floor’. Allocations are confirmed until 2028/29 after which it is expected that this will reduce. Later years also reflect both the downward trend in interest from lower investment balances and fluctuating net revenue streams from Council Tax and Localised Business Rate changes.

Proportion of Financing Costs to Net Revenue Stream
Description	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Net Interest Payable / (Receivable)	£34,000	(£762,000)	(£831,000)	(£762,000)	(£669,000)
Net Revenue Stream	£17,907,000	£17,705,000	£15,445,000	£16,394,000	£17,057,000
Financing Costs: Net Revenue Stream	0.19%	Minus 4.30%	Minus 4.76%	Minus 4.65%	Minus 4.10%

b. Estimates of net income to net revenue stream

This indicator that looks at net income from commercial and service investments (for example it includes Rushcliffe Oaks Crematorium and Bingham Market) and expresses it as a percentage of net revenue streams. The increase reflects rent increases and improved commercial performance of the crematorium.

Proportion of Net Income to Net Income Stream

Proportion of Net Income to Net Revenue Stream
Description	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Net Income from investments	(£2,094,000)	(£2,284,000)	(£2,345,000)	(£2,411,000)	(£2,482,000)
Net Revenue Stream	£17,907,000	£17,705,000	£17,445,000	£16,394,000	£17,057,000
Net Income to Net Revenue Stream	11.7%	12.9%	13.4%	14.7%	14.6%

Investment Strategy 2026/27 to 2030/31

The table below shows the Council's investment projections. The downward movement reflects the use of capital receipts to finance capital expenditure. In addition, it reflects the release of S106 monies and the loss of S106 receipts for Education which are no longer paid to the Council.

Investment Projections

Investment Projections
Description	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Investments at 31 March	£71,500,000	£69,900,000	£68,700,000	£66,800,000	£63,200,000	£63,000,000

The CIPFA Code requires the Council to invest its funds prudently, and to have regard to the security and liquidity of its investments before seeking the highest rate of return. The Council’s objective when investing money is to strike an appropriate balance between risk and return, minimising the risk of incurring losses from defaults and the risk of receiving unsuitable low investment income.

Where balances are expected to be invested for more than one year, the Council will aim to achieve a total return that is equal or higher than the prevailing rate of inflation, to maintain the spending power of the sum invested. The Council aims to be a responsible investor and will consider environmental, social and governance (ESG) issues when investing (see paragraph 41). The Council ensures that robust due diligence procedures cover all external investments.

As demonstrated by the liability benchmark above (paragraph 32), the Council expects to be a long-term investor and treasury investments will therefore include both short-term low risk instruments to manage day to day cash flows and longer-term instruments where limited additional risk is accepted in return for higher investment income to support the services the Council provides.

ESG Policy: Environmental, social and governance (ESG) considerations are increasingly a factor in global investors’ decision making, but the framework for evaluating investment opportunities is still developing and therefore the Council’s ESG policy does not currently include ESG scoring or other real-time ESG criteria at an individual investment level. When investing in banks and funds, the Council will (in accordance with treasury advice) prioritise banks that are signatories to the UN Principles for Responsible Banking and funds operated by managers that are signatories to the UN Principles for Responsible Investment, the Net Zero Asset Managers Alliance (NZAM) and/or the UK Stewardship Code. Note that the NZAM is currently suspended but has announced a resumption from January 2026. Ultimately security, liquidity and yield are the overriding principles that drive where the council invests its resources.

The Council will keep under review the sensitivity of its treasury assets and liabilities to inflation and will seek to manage the risk accordingly in the context of the whole of the Council’s inflation exposures.

The Council will invest its surplus funds with any of the counterparty types in the table below, subject to the limits shown and counterparties included at Appendix i.

Counterparty Details
Sector	Time Limit	Counterparty Limit	Sector Limit
UK Government	50 years	Unlimited	not applicable
Local Authorities and other government entities	25 years	£10,000,000	Unlimited
Secured investments - Government collateral	25 years	£10,000,000	Unlimited
Secured investments - other collateral	10 years	£10,000,000	Unlimited
Banks (unsecured) (see note below table)	13 months	£5,000,000	Unlimited
Building Societies (unsecured) (see note below table)	13 months	£5,000,000	£5,000,000
Registered provider (see note below table)	5 years	£5,000,000	£5,000,000
Money market funds (see note below table)	not applicable	£10,000,000	Unlimited
Strategic pooled funds (see note below table)	not applicable	£10,000,000	£30,000,000
Real estate investment trusts	not applicable	£5,000,000	£10,000,000
Other investments (see note below table)	5 years	£5,000,000	£10,000,000

Note: Refer to Glossary at Appendix (iv)

Although the above table details the counterparties that the Council could invest funds with, it would not invest funds with counterparties against the advice of Arlingclose (the Council’s Treasury Management Advisors) even if they met the criteria above.

Credit rating information is provided by Arlingclose on all active counterparties that comply with the criteria above. A counterparty list will be maintained from this information and any counterparty not meeting the criteria will be removed from the list.

Where an entity has its credit rating downgraded so that it fails to meet the approved investment criteria then:
- no new investments will be made,
- any existing investments that can be recalled or sold at no cost will be, and
- full consideration will be given to the recall or sale of all other existing investments with the affected counterparty.

Where a credit rating agency announces that a credit rating is on review for possible downgrade (also known as “rating watch negative” or “credit watch negative”) so that it may fall below the approved rating criteria, then only investments that can be withdrawn (on the next working day), will be made with that organisation until the outcome of the review is announced. This policy will not apply to negative outlooks, which indicate a long-term direction of travel rather than an imminent change of rating.
The Council understands that credit ratings are good, but not perfect, predictors of investment default. Full regard will be given to other available information on the credit quality of the organisations in which it invests, including financial statements, information on potential government support, reports in the quality financial press and analysis and advice from Arlingclose.

The Council is aware that investments with certain counterparties, while considered secure from a purely financial perspective, may leave it open to criticism that may affect its public reputation, and this risk will also be considered when making investment decisions. Many local authorities are not rated by credit rating agencies, although some are. The Council will always take reasonable steps as mentioned in paragraph 47 and carry out due diligence before investing.

Although the Council has never made use of financial derivatives and has no current plans to do so, in line with the CIPFA code, the Council would seek external advice before entering into such an agreement to ensure that it fully understands the implications (see paragraph 64 for more detail).

Credit Risks

The CIPFA Treasury Management Code recommends that organisations should clearly specify the minimum acceptable credit quality of its counterparties; however, they should not rely on credit ratings alone and should recognise their limitations. Full regard will therefore be given to other available information on the credit quality of the organisations, in which it invests, including credit default swap prices, financial statements, information on potential government support and reports in the quality financial press. No investments will be made with an organisation if there are substantial doubts about its credit quality, even though it may meet the credit rating criteria..

When deteriorating financial market conditions affect the credit worthiness of all organisations, as happened in 2008 and 2011, this is not generally reflected in credit ratings, but can be seen in other market measures. In these circumstances, the Council will restrict its investments to those organisations of higher credit quality and reduce the maximum duration of its investments to maintain the required level of security. The extent of these restrictions will be in line with prevailing financial market conditions. If these restrictions mean that insufficient commercial organisations of high credit quality are available to invest the Council’s cash balances, then the surplus will be deposited with the UK Government, via the Debt Management Office or invested in government treasury bills for example, or with other local authorities. This will cause a reduction in the level of investment income earned but will protect the principal sum invested.

Current Investments

The Council uses its own processes to monitor cash flow and determine the maximum period for which funds may prudently be committed. The forecast is compiled on a prudent basis to minimise the risk of the Council being forced to borrow on unfavourable terms to meet its financial commitments. Limits on long-term investments are set by reference to the Council’s medium term financial strategy and cash flow forecast.

Surplus funds are invested in accordance with the Council’s cash flow requirements in order to gain the maximum benefit from the Council’s cash position throughout the year. Generally speaking, in times of declining interest rates it is prudent to lock into longer deals to take advantage of higher rates, whilst also ensuring a diversified portfolio. Funds are separated between service investment and non-specified investments as detailed in paragraphs 57 to 59 below.

The Council currently holds a total of £15m in pooled/diversified funds. The fair value of these funds fluctuates, and the current value of these investments can be seen in Appendix ii. The downward trend experienced in previous years is starting to reverse but these funds are still susceptible to global unrest, inflation and monetary policies.

The fluctuations in capital value of the pooled/diversified funds to date is a loss of £561,000. This is currently reversed by the statutory override preventing any accounting loss impacting on the revenue accounts. This is due to end 1 April 2029. The risk of this loss crystalising after this period has been mitigated by appropriations of £1,310,000 to the Treasury Capital Depreciation Reserve.

It should be noted that whilst the value of this type of investment can fluctuate, the revenue returns make up a significant proportion of the overall returns on investments (the fair value of these investments accounted for 19% of average investment balances in 2023/24 but generated 34% interest) and over the period of investment has returned £3,500,000 in interest. The Council will continue to monitor the position on these investments and take advice from the treasury advisors.

Service Investments

The Council invests its money for three broad purposes:
- because it has surplus cash as a result of its day-to-day activities (treasury management),
- to support local public services by lending to or buying shares in other organisations (service investments), and
- to earn investment income (or known as commercial investments where this is the main purpose).

The Council can lend money to its suppliers, parish councils, local businesses, local charities, employees, housing associations to support local public services and stimulate local growth, normally at market interest rates. The Council has existing loans to Nottinghamshire Cricket Club which not only stimulates the local economy but provides social outcomes. The Trent Bridge Community Trust delivers projects that have positive impacts on local communities such as tackling social exclusion and anti-social behaviour. The main risk when making service loans is that the borrower may be unable to repay the principal lent and/or the interest due. In order to limit this risk and ensure that total exposure to service loans remains proportionate to the size of the Council, the upper limit on any category of borrower will be £5,000,000.

Non-specified investments

Shares are the only investment type that the Council has identified that meets the definition of a non-specified investment in the government guidance. The Council does not intend to make any such investments, that are defined as capital expenditure by legislation.

Investment Limits

The Council's revenue reserves available to cover investment losses in a worst-case scenario are forecast to be around £17,500,000 on 31 March 2026. The maximum that will be lent unsecured to any one organisation (other than the UK Government) will be £10,000,000. This figure is constantly under review to assess risk in the case of a single default. A group of banks under the same ownership will be treated as a single organisation for limit purposes. Limits will also be placed on fund managers, investments in brokers’ nominee accounts, foreign countries, and industry sectors as below. Investments in pooled funds and multilateral development banks do not count against the limit for any single foreign country since the risk is diversified over many countries.

Investment Limits
Description	Cash Limit
Any group of pooled funds under the same management	£10,000,000 per manager
Investments held in a broker's nominee account	£10,000,000 per broker
Foreign Countries	£3,000,000 per country

Treasury Management limits on activity

The Council measures and manages its exposures to treasury management risks using the following indicators:

a) Interest Rate Exposure

This indicator is set to control the Council’s exposure to interest rate risk. The upper limits on fixed and variable rate interest rate exposure is usually expressed as a percentage of the amount of net interest payable. However, for the Council, interest costs on borrowing are greatly exceeded by interest and investment income, therefore the upper limit for fixed and variable interest rate exposure in absolute terms will be negative. The Council has set a limit of 50% on fixed interest rate exposure. During a time of falling interest rates as forecast (paragraph 24) this indicator should not be restrictive or prevent the Council from locking more investments into higher interest rates. The definition of fixed rate investments and borrowings are those where the rate of interest is fixed for at least 12 months, measured from the start of the financial year or the transaction date if later. All other instruments are classed as variable rate.

Interest Rate Exposure
Category	2025/26	2026/27	2027/28	2028/29	2029/30	2030/31
Upper Limit on fixed interest rate exposure	50%	50%	50%	50%	50%	50%
Upper Limit on variable interest rate exposure	100%	100%	100%	100%	100%	100%

Principal Sums Invested over one year

This limit is intended to contain exposure to the possibility of any loss that may arise as a result of the Council having to seek early repayment of any investments made. It includes long-term investments with no fixed maturity date including strategic pooled / diversified funds. The limits on the long-term principal sum invested to final maturities beyond the period end are set at 50% of the sum available for investment (to the nearest £100,000), as follows:

Principal sums invested over one year
Description	2025/26 Estimate	2026/27 Estimate	2027/28 Estimate	2028/29 Estimate	2029/30 Estimate	2030/31 Estimate
Limit on Principal Invested over one year	£35,800,000	£34,900,000	£34,400,000	£33,400,000	£31,600,000	£31,500,000

Policy on the use of financial derivatives

Local authorities have previously made use of financial derivatives embedded into loans and investments both to reduce interest rate risk (for example, interest rate collars and forward deals) and to reduce costs or increase income at the expense of greater risk (for example, LOBO (Lender Option Borrowers Option) loans and callable deposits). The general power of competence in Section 1 of the Localism Act 2011 removes much of the uncertainty over local authorities’ use of standalone financial derivatives (i.e., those that are not embedded into a loan or investment).

The Council will only use standalone financial derivatives (such as swaps, forwards, futures, and options) where they can be clearly demonstrated to reduce the overall level of the financial risks that the Council is exposed to. Additional risks presented, such as credit exposure to derivative counterparties, will be considered when determining the overall level of risk. Embedded derivatives, including those present in pooled funds and forward starting transactions, will not be subject to this policy, although the risks they present will be managed in line with the overall treasury risk management strategy.

Financial derivative transactions may be arranged with any organisation that meets the approved investment criteria. The current value of any amount due from a derivative counterparty will count against the counterparty credit limit and the relevant foreign country limit.

Treasury Management Advisors

Arlingclose will act as the Council’s treasury management advisors until 31 October 2026 (with optional extension until 31 March 2028). The company provides a range of services which include:

•   Technical support on treasury matters and capital finance issues
•   Economic and interest rate analysis
•   Investment advice on interest rates, timing and investment instruments; and
•   Credit ratings / market information service comprising the three main credit rating agencies.

Whilst the treasury management advisors provide support to the internal treasury function, the current market rules and the CIPFA Treasury Management Code confirms that the final decision on treasury management matters rests with the Council. The service provided by the Council’s treasury management advisors is subject to regular review.

Other Options Considered

The MHCLG Guidance and the CIPFA Code do not prescribe any particular treasury management strategy for local authorities to adopt. The Director of Finance and Corporate Services, having consulted the Cabinet Member for Finance, believes that the above strategy represents an appropriate balance between risk management and cost effectiveness. Our policy is to have a feathered approach, meaning a range of counterparties spread over different time periods (short / medium / long term), this mitigates risk of changes in credit ratings and interest rates whether they go up or down.

Commercial Investments

The CIPFA’s definition of treasury management activities above (paragraph 17) covers all financial assets of the organisation as well as other non-financial assets which the organisation holds primarily for financial returns, such as investment property portfolios. This may therefore include investments which are not managed as part of normal treasury management or under treasury management delegations.

Under the updated Prudential Code, Local Authorities are no longer allowed to borrow to fund non-financial assets solely to generate a profit.

The Council will maintain a summary of current material investments, subsidiaries, joint ventures and liabilities, including financial guarantees and the organisation’s risk exposure. The current summary is included at Appendix iii.

The Council will also monitor past commercial property investments against original objectives and consider plans to divest as part of a biennial review. The last report was presented to Governance Scrutiny Group in February 2024 (see paragraph 83) with the next report due in June 2026.

Proportionality is included as an objective in the Prudential Code. Clarification and definitions to define commercial activity and investment are also included, and the purchase of commercial property purely for profit cannot lead to an increased capital financing requirement (CFR).

The Council must disclose its dependence on commercial income and the contribution non-core investments make towards core functions. This covers assets previously purchased through the Council’s Asset Investment Strategy (AIS), as well as other pre-existing commercial investments

a) Dependence on commercial income and contribution non-core investments make towards core functions

The expected contributions from existing commercial investments are shown in the table below. To manage the risk to the Council’s budget, the contribution from commercial investments should not account for a significant proportion of the Council’s total income. Over the medium term the contribution from commercial investments is around 10% each year leaving the Council less exposed to risks surrounding commercial property.

This percentage is declining over the medium term due to the Council’s budgeted total income increasing relative to rental income.
.

Commercial Investment income and costs
Category	2026/27	2027/28	2028/29	2029/30	2030/31
Commercial Property Income	(£1,837,000)	(£1,940,000)	(£1,940,000)	(£1,940,000)	(£1,940,000)
Running Costs	£503,000	£483,000	£492,000	£501,000	£510,000
Net Contribution to core functions	(£1,333,000)	(£1,457,000)	(£1,448,000)	(£1,439,000)	(£1,430,000)
Interest from Commercial Loans	(£55,000)	(£49,000)	(£44,000)	(£40,000)	(£35,000)
Total Contribution	(£1,388,000)	(£1,506,000)	(£1,492,000)	(£1,479,000)	(£1,465,000)
Sensitivity: +/- 10% Commercial Property Income	£184,000	£194,000	£194,000	£194,000	£194,000
Indicator: Total Contribution as a percentage of total Council income	10.0%	10.4%	10.0%	9.8%	9.5%
Total Income	£13,952,000	£14,441,000	£14,864,000	£15,147,000	£15,435,000

b) Risk exposure indicators

The Council can minimise its exposure to risk by spreading investments across sectors and by avoiding single large-scale investments. Generally there is a spread of investment across sectors in the Council's portfolio. The Council’s previous commitment to economic regeneration (not purely financial return) has meant that many of its investments have been in industrial units, which have been very successful. This is closely followed by income from Office accommodation which in some cases is linked to economic regeneration schemes. Bingham Enterprise is the latest investment which is now fully let and generating rental income of £108,000 per annum.

Income spread by sector:

Industrial sites - 41%
Offices - 40%
Retail - 7%
Other - 10%
Commercial loans - 3%

c) Security and liquidity

% Split by Asset Value (number of investments)

Under £500,000 - 56% (20 assets)
£500,000 to £1,000,000 - 19% (7 assets)
£1,000,000 to £2,000,000 - 19% (7 assets)
Over £2,000,000 - 6% (2 assets)

Commercial investments are held for longer term asset appreciation as well as yield. Investments or sales decisions will normally be planned as part of the consideration of the 5-year capital strategy to maximise the potential return. Nevertheless, the local and national markets are monitored to ensure any gains are maximised or losses minimised.

To help ensure asset values are maintained the assets are given quarterly inspections, together with a condition survey every three years. Any works required to maintain the value of the property will then form part of Council’s spending plans.

The liquidity of the assets is also dependent on the condition of the property, the strength of the tenants and the remaining lease lengths. The Council keeps these items under review with a view to maximising the potential liquidity and value of the property wherever possible.

The liquidity considerations for commercial investments are intrinsically linked to the level of cash and short-term investments, which help manage and mitigate the Council’s liquidity risk.

The Investments are subject to ongoing review with regards to their financial viability or indeed whether they are surplus to requirement. At the February 2024 Governance Scrutiny Group Meeting, details on the risks surrounding the Council’s commercial properties were reported, as well as providing a pathway to potential commercial asset disposal, if required.

Knowledge and Skills

The Treasury Management Code requires Local Authorities to document a formal and comprehensive knowledge and skills schedule reflecting the need to ensure that both members and officers responsible for treasury management are suitably trained and kept up to date (TMP 10). There will be specific training for members involved in scrutiny and broader training for members who sit on full Council. Training for Members was last delivered in January 2026. The Council specifically addressing this important issue by:

Periodically facilitating workshops for members on finance issues.
Interim reporting and advising members of Treasury issues when necessary via Governance Scrutiny Group.

With regards to officers the Council employs professionally qualified and experienced staff in senior positions and continues to support professional development by:

Attendance at training events, seminars, and workshops; and
Support from the Council’s treasury management advisors
Identifying officer training needs on treasury management related issues through the Performance Development and Review appraisal process

The Council will continue to have its Annual Treasury Management training session with Councillors provided by its Treasury advisers.

Appendix (i)

Counterparty Registrations under MIFID II (Markets in Financial Instruments Directive)

The Council is registered with the following regulated financial services organisations who may arrange investments with other counterparties with whom they have themselves registered:

BGC Brokers LP
Royal London Asset Management
Tradition UK Ltd
King & Shaxson
Aberdeen Asset Management
Aviva
Institutional Cash Distributors Ltd
Federated Investors (UK) LLP
Invesco Asset Management Ltd
CCLA
Goldman Sachs Asset Management
Black Rock
Aegon Asset Management
Ninety One
HSBC Asset Management
Imperial Treasury Services

Appendix (ii)

Pooled Funds - Changes in Fair Value since Acquisition

Changes in Fair Value since Acquisition
Fair Value	31.03.2025	31.12.2025	Difference from 31.03.2025	Amount Invested	Difference in Valuation from initial investment
Aegon (previously Kames)	£4,560,790	£4,955,654	Higher - £394,684	£5,000,000	Lower - £44,346
Ninety One (previously Investec)	£4,518,894	£4,621,171	Higher - £102,277	£5,000,000	Lower - £378,829
RLAM	£1,015,613	£1,026,717	Higher - £10,692	£1,000,000	Higher - £26,306
CCLA Property	£2,008,092	£2,011,052	Higher - £2,960	£2,000,000	Higher - £11,052
CCLA Diversified	£1,825,481	£1,824,177	Lower - £1,303	£2,000,000	Lower - £175,823
Total	£13,928,870	£14,438,360	Higher - £509,491	£15,000,000	Lower - £561,640

Appendix (iii)

Current Book Value of Non-Treasury Investments

Asset Valuations
Asset	Book Value 31.3.25	Book Value 31.3.24
The Point Office Accommodation	£3,282,000	£3,272,000
Hollygate Lane, Cotgrave Industrial Units	£2,944,000	£2,776,000
Unit 3 Edwalton Business Park	£2,194,000	£2,223,000
Bardon, Single Industrial Unit	£1,929,000	£1,929,000
Unit 1 Edwalton Business Park	£1,731,000	£1,787,000
Trent Boulevard	£1,414,000	£1,428,000
Colliers Business Park Phase 2	£1,511,000	£1,386,000
Cotgrave Phase 2	£1,231,000	£1,227,000
Bingham Hub Offices	£1,116,000	£1,112,000
Bridgford Hall Apart Hotel and Registry Office	£955,000	£1,061,000
Finch Close	£914,000	£911,000
Boundary Court	£742,000	£787,000
Colliers Business Park Phase 1	£863,000	£775,000
Cotgrave Precinct Shops	£526,000	£487,000
Mobile Home Park	£477,000	£477,000
New Offices Cotgrave	£504,000	£470,000
Total Investment Property - Values are at 31 March 2023 and 2022	£22,333,000	£22,108,000
Notts County Cricket Club Loan	£1,384,000	£1,499,000
Total	£23,717,000	£23,607,000

Appendix (iv)

Glossary of Terms

CPI: The consumer price index. A measure of the cost of living for the typical person.

Core CPI: The CPI for energy and food prices.

Minimum credit rating: Treasury investments in the sectors marked with an asterisk will only be made with entities whose lowest published long-term credit rating is no lower than [AA-]. Where available, the credit rating relevant to the specific investment or class of investment is used, otherwise the counterparty credit rating is used. However, investment decisions are never made solely based on credit ratings, and all other relevant factors including external advice will be considered.

For entities without published credit ratings, investments may be made either (a) where external advice indicates the entity to be of similar credit quality; or (b) to a maximum of £10,000,000 per counterparty as part of a diversified pool e.g. via a peer-to-peer platform.

Time limits: These start on the earlier of date that the Authority is committed to make the investment and the date that the cash is transferred to the counterparty.

UK Government: Sterling-denominated investments with or explicitly guaranteed by the UK Government, including the Debt Management Account Deposit Facility, treasury bills and gilts. These are deemed to be zero credit risk due to the government’s ability to create additional currency and therefore may be made in unlimited amounts for up to 50 years.

Local authorities and other government entities: Loans to, and bonds and bills issued or guaranteed by, other national governments, regional and local authorities and multilateral development banks. These investments are not subject to bail-in, and there is generally a lower risk of insolvency, although they are not zero risk. The counterparty limit for loans to local authorities will be increased to an unlimited amount where (a) the government has announced that the Council will merge with the borrowing authority and (b) the loan is scheduled to be repaid after the expected date of the merger.

Secured investments: Investments secured on the borrower’s assets, which limits the potential losses in the event of insolvency. The amount and quality of the security will be a key factor in the investment decision. Covered bonds, secured deposits and reverse repurchase agreements with banks and building societies are exempt from bail-in. Where there is no investment specific credit rating, but the collateral upon which the investment is secured has a credit rating, the higher of the collateral credit rating and the counterparty credit rating will be used. The combined secured and unsecured investments with any one counterparty will not exceed the cash limit for secured investments. A higher limit applies for investments fully secured on UK or other government collateral.

Banks and building societies (unsecured): Accounts, deposits, certificates of deposit and senior unsecured bonds with banks and building societies, other than multilateral development banks. These investments are subject to the risk of credit loss via a bail-in should the regulator determine that the bank is failing or likely to fail. See below for arrangements relating to operational bank accounts.

Registered providers (unsecured): Loans to, and bonds issued or guaranteed by, registered providers of social housing or registered social landlords, formerly known as housing associations. These bodies are regulated by the Regulator of Social Housing (in England), the Scottish Housing Regulator, the Welsh Government and the Department for Communities (in Northern Ireland). As providers of public services, they retain the likelihood of receiving government support if needed.

Money market funds: Pooled funds that offer same-day or short notice liquidity and very low or no price volatility by investing in short-term money markets. They have the advantage over bank accounts of providing wide diversification of investment risks, coupled with the services of a professional fund manager in return for a small fee. Although no sector limit applies to money market funds, the Council will take care to diversify its liquid investments over a variety of providers to ensure access to cash at all times.

Strategic pooled funds: Bond, equity and property funds, including exchange traded funds, that offer enhanced returns over the longer term but are more volatile in the short term. These allow the Council to diversify into asset classes other than cash without the need to own and manage the underlying investments. Because these funds have no defined maturity date, they can be either withdrawn after a notice period or sold on an exchange, their performance and continued suitability in meeting the Council’s investment objectives will be monitored regularly.

Real estate investment trusts: Shares in companies that invest mainly in real estate and pay the majority of their rental income to investors in a similar manner to pooled property funds. As with property funds, REITs offer enhanced returns over the longer term but are more volatile especially as the share price reflects changing demand for the shares as well as changes in the value of the underlying properties.

Other investments: This category covers treasury investments not listed above, for example unsecured corporate bonds and unsecured loans to companies and universities. Non-bank companies cannot be bailed-in but can become insolvent placing the Council’s investment at risk.

Operational bank accounts: The Council may incur operational exposures, for example though current accounts, collection accounts and merchant acquiring services, to any UK bank. These are not classed as investments but are still subject to the risk of a bank bail-in and balances will therefore be kept below £10,000,000 per bank. The Bank of England has stated that in the event of failure, banks with assets greater than £25,000,000 are more likely to be bailed-in than made insolvent, increasing the chance of the Council maintaining operational continuity.

Budget and Financial Strategy 2026-27