Decision details

RESOLVED: That Council:

(1)   Noted the position on the Collection Fund and how it will be funded.

(2)   Noted the position relating to the General Fund balance and that due to the risks identified a minimum balance of £2.46 million is recommended.

(3)   Noted the net revenue savings that are likely to be required in future years, combined with the Chief Finance Officer’s section 25 report (Appendix D) which provides a commentary on the risks and reliability of estimates contained in the budget.

(4)   Approved the revenue savings and investments as detailed in Appendix B with the additional investments in 24/25 only of £25k for Area Forum grants and £10k for additional bee corridors.

(5)   Approved a net expenditure budget of £19.933m, as detailed in Appendix C adjusted to reflect the additional investments in 24/25 totalling £35k.

(6)   Approved a Council Tax increase of 2.99%, which is in line with the provisions in the Medium Term Financial Strategy.

REASON FOR DECISIONS: To ensure that all relevant factors are considered in arriving at a budget and Council Tax level for 2024/25. To ensure that the budget is aligned to Council priorities for 2024/25 as set out in the Council Plan.