Council approves 3-year balanced budget
At the Special Council meeting held on 19 February 2025, a report on the Council’s financial strategy to 2027/28 was presented to Members for consideration.
The report provided an update on the Council’s budget position for 2025/26 and draft budgets for the two years beyond that. The report also contained the annual review of the Council Tax Reduction scheme and the Annual Procurement Plan.
Cllr Steve Mountford, Portfolio Holder for Resources, said: “This report highlighted the positive budget position that the Council is in. The Budget for 2025/26 is balanced, meaning that we do not need to rely on the use of the General Reserve to meet spending plans for this year. This, and the balanced long term financial position for the Council, is a fantastic achievement and a direct result of the efforts of Officers and Members.
Within the report is further detail on a proposed Council tax increase from Castle Point Borough Council of 2.97% for 2025/26. This proposed increase has been carefully considered and reflects a potential increase of £8.37 per year based on a Band D property.”
Cllr David Blackwell, Leader of Castle Point Borough Council, added: “Given the ongoing budget pressures and uncertainty that Local Government is facing, the Council finds itself in a sound financial position at this stage and with the budget needed in 2025/26 to continue to deliver the quality services that our residents deserve.
The draft budgets for 2026/27 and 2027/28 are also balanced based on current assumptions, and this position is a significant achievement for the Council, all whilst maintaining and improving services. These improvements include the important investment of £1m in a new Parks and Play Space Rejuvenation capital programme.”
The Special Council meeting was recorded and is available to watch on YouTube.