Social Value Ideas for Boston Borough Council

State Street LOBO Loan Repayment

Council successfully negotiated repayment of problematic State Street LOBO loan (originally £1m at 11.125% annual interest, dating from 1991). Loan had been transferred to Rolls-Royce pension fund. On…

“They offered um the council a once-in-a-lifetime offer as they called it of um a flat payment of 1.5 million pounds um which was £300,000 lower than t…”

Draft outturn underspend

The committee noted a draft outturn underspend of £104,153 for 2025/26 and an available reserve balance of £324,863 before a further £30,000 minimum reserve increase in 2026/27. Members discussed whet…

“This report starts on page 21 of your agenda pack and details the draft out term position for twenty fivetwenty six covering the period 04/01/2025 to …”

Q2 2025-26 Revenue Deficit Position

Q2 forecast shows revenue deficit of £571,000, an improvement from Q1 position of over £800,000. Various income pressures identified: planning services, crematorium services, commercial waste, and mar…

“Pleased to report that there is wh is still a deficit position of 571,000 on the revenue account. Uh that is an improved position from what was report…”

Section 151 Officer Appointment

Russell Stone appointed as Boston Council's new Section 151 Officer (Chief Finance Officer). He committed to ensuring financial specialist officers attend Audit and Governance Committee meetings and w…

“I'd like to introduce uh councilors to uh Russell Stone, the council's new section 151 officer, please... Yes, thank you, Mr. Mayor. Yes, I won't say …”

Treasury Management Loan Refinancing

State Street loan has been prematurely repaid and replaced with new loan at reduced interest rate. Interest rate reduced from over 11% to less than 5%, generating £28,000 annual saving which will carr…

“through the last uh quarter or so we have been looking at options to repay prematurely the the state street loan. um that has now been undertaken um g…”

LAHF round four homes

Cabinet approved participation in Local Authority Housing Fund round four, with a total scheme value of £667,000 made up of £302,000 government funding and £365,000 council reserve match funding. The …

“This report then seeks approval to accept the government's local authority housing fund round four allocation and provides the required match funding …”

Local Authority Housing Fund match

The council approved amendment of the 2026/27 capital programme to include Local Authority Housing Fund round four, with a scheme value of £667,000. Funding is split between grant support and council …

“This report seeks approval for the council to create the necessary capital budget to enable the council to participate in round four of government's l…”

Good Home Alliance funding

Cabinet approved accepting additional Disabled Facilities Grant funding and using £26,989 of it to continue the Good Home Alliance advice and casework service from 2026-07-01 to 2028-03-31. The report…

“To continue the service from July 26 to March 28, Boston Council is asked to contribute 26,989 which can be fully funded from the additional £55,211 d…”

Hackney carriage fare increase proposal

The committee reviewed a request to raise Boston’s maximum hackney carriage fares after an earlier deferral for more evidence. The discussion focused on cost inflation since 2022, including insurance,…

“This report asked the regulatory and appeals committee to consider evidence provided by the Boston Hackne carriage association in support of a request…”

Hackney fare review deferred

The committee did not approve the fare increase immediately. Members decided the issue should come back to committee at another date with a representative of the hackney carriage association present, …

“Okay, I I think it's I agree with some of the comments on here that you can't ask for something and the negotiation table if you don't turn up. And I …”