Agenda item

Pursuant to Cabinet Minute No. 77 (2023/24), the Service Director - Finance submitted a report on the General Fund revenue budget, the proposed budget allocations and recommended Council Tax level for approval for the financial year 2024/25.

In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a recorded vote was taken for this item as follows:

FOR –

AGAINST –

ABSTENTIONS –

None

RESOLVED –

1.   That the budget savings proposals as detailed in section 4.54 of the officer’s report be approved and implemented immediately.

2.   That the updated forecast outturn for 2023/24, which currently presents a deficit position for the financial year of £282k be noted.

3.   That the overall revenue budget for 2024/25, as detailed in table 4 and Appendix B of the officer’s report, be approved.

4.   That the use of £214k from the Budget Risk Reserve to balance the 2024/25 revenue budget be approved.

5.   That the submission of a proposal to employ flexible use of capital receipts in the financial years 2023/24 and 2024/25 and to delegate the amendment and final approval of this proposal to the Service Director – Finance (CFO), in consultation with the Deputy Leader and Cabinet Member for Finance and Asset Management be approved.

6.   That the 2024/25 Council Tax Requirement and financing be approved.

7.   That the recommended increase of the Council’s share of Council Tax in each band be approved on the basis of a 2.99% increase for a Band ‘D’ property, in 2024/25 to £190.81.

8.   That the Local Council Tax Support scheme which remains unchanged for 2024/25 be approved.

9.   That the Collection Fund and the Tax Base forecasts be noted.

10.   That the financial projections in the Medium-Term Financial Plan (MTFP) for 2025/26 to 2027/28 be noted.

11.   That the estimates of reserves including maintaining the General Working Balance at £1.5m be approved.

12.   That the budget risks and sensitivity analysis, as detailed in Appendix D of the officer’s report, and the Chief Finance Officer’s assurances be noted.

13.   That it be noted that Cabinet (or the Joint Cabinet and Employment and General Committee) still have to make final decisions on the budget savings proposals described in paragraph 4.55 of the report.