Decision details

The Council has a statutory responsibility to set a council tax and budget in advance of the commencement of the new financial year (1 April to 31 March). During the year, the Council will review its spending plans, consider options to amend spending to meet new priorities and consider comments received as part of the consultation process. This report will set the budget and level of council tax for the year taking into account the above factors.

RESOLVED

That the Full Council be recommended to approve the following items regarding the 2024/25 Budget:

a)      approve the proposed 2024/25 General Fund Budget which includes using £1,202,470 of general fund reserve as set out in Section 6 of report FIN/642,

b)      approve the proposed 2024/25 Housing Revenue Account Budget as set out in Appendix 5 of report FIN/642 which includes the savings and growth items as set out in Section 9 pf report FIN/642,

c)       approve the 2024/25 and future years Capital Programme and funding as set out in Section 10 of the report FIN/642,

d)      agree the transfers between reserves as outlined in Section 11 of report FIN/642.

e)      agree that the Council’s share of Council Tax for 2024/25 be increased by 2.99% an increase of £6.76 from £225.34 to £232.10 for a Band D property as set out in paragraph 5.11 of report FIN/642,

f)       approve the Pay Policy Statement for 2024/2025 as outlined in paragraph 12.4 and Appendix 8 of the report FIN/642noting that the pay award has yet to be agreed,

g)      approve the Capital Strategy as outlined in paragraph 10.1 and Appendix 9 of the report FIN/642

Reasons for the Recommendations

To provide adequate funding for the proposed level of services and to fulfil the statutory requirement to set a Budget and Council Tax and report on the robustness of estimates.