Sevenoaks District Council Forecasts £130,000 Overspend as Sunday Market and Car Park Income Fall Short

Sevenoaks District Council is forecasting a £130,000 overspend for the year to March 2027, according to the financial monitoring report its Cabinet noted on Tuesday 22 September. That is small against a £27.9 million capital programme, but the causes are worth knowing: a Sunday market charge waived to help a struggling operator, a new rival car park, and a building control service short of fee income.

The biggest single item is Building Control, forecast £96,000 over budget because fee income is lower than planned and the service has had extra staff, contractor and external audit costs. The Sunday market is £79,000 down on rent: the council has waived the Sunday market charge because the market operator is struggling financially, to protect Wednesday market income until the contract ends on 31 March 2027, and the loss is partly offset by extra income from the Wednesday markets. Income at Bradbourne car park is £60,000 down, with the report blaming a new Euro Car Park that opened in May for cutting day-ticket income, while season tickets are also below budget. Smaller items include £50,000 for the CCTV system's analogue transmission equipment, which is due to be upgraded by November, £50,000 because the council's vacancy saving target is not being met, and £51,000 on investment property from extra business rates and empty or rent-free units. The pay award, now approved at 3.3%, adds £71,000 above budget and is already counted in the total.

Two things stop the gap being bigger. Interest on the council's investments is forecast £165,000 better than budget, thanks to its mix of longer-term multi-asset income funds and short-term money market funds. And the waste service transition is £100,000 under budget because of unfilled posts.

Members used the discussion to ask about the future of Swanley Market, whose contract expires in March 2027 (the report gives 31 March 2027 as the end of the market contract). They asked whether other operators could be considered and whether Swanley Town Council could be involved, and suggested the Sunday market could work differently from the Wednesday one. No decision was taken.

Cabinet also approved the 2025/26 treasury management report. The council earned £748,000 in investment interest last year at a rate of 4.43%, and took out no new loans beyond short-term cash-flow ones. But officers said a £1.6 million gap in funding for capital spending is being covered by borrowing from the council's own cash, because there are few capital receipts, and there is no room left to do more of that. The council has approval to borrow up to £100 million externally for its capital plans, none of which has been drawn down. Officers said long-term borrowing is getting more expensive, with Public Works Loan Board rates currently "quite high", so each project will be judged case by case and some have already moved outside the council's appetite.

Asked about finances now that reorganisation has been paused, the Leader said the council had set a three-year budget that fitted neatly with the reorganisation timetable, and that with the unknowns now a range of options would be explored, resting on its ten-year budget. For comparison, the overspend forecast at Tunbridge Wells this week traced almost entirely to one collapsed leisure operator, whereas Sevenoaks's is a spread of smaller pressures.

On the Land East of the High Street scheme, members were told the development agreement with the council's development partner has not yet been signed. Our earlier report on the scheme covers the plans. A letter to businesses, members and local councillors setting out the engagement programme is due over the next few weeks. Sources: Sevenoaks District Council Cabinet draft minutes, 22 September 2026, Financial Monitoring report to end of July 2026