Decision details

REFERRED TO CABINET: That Finance, Audit and Risk comments on the budget process, assumptions and risks contained within this report, in the context that Cabinet recommend to Council that:

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

(2)   Notes the position relating to the General Fund balance and that due to the risks identified a minimum balance of £3.5 million is recommended.

(3)   Notes 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)   Approves the revenue savings and investments as detailed in Appendix B.

(5)   Approves the capital programme as detailed in Appendix C.

(6)   Approves a net expenditure budget of £27.321m, as detailed in Appendix E.

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

(8)   Approves bringing forward the capital budget for pool covers at the outdoor pools to 2025/26.

REASON FOR REFFERAL: To ensure that all relevant factors are considered in arriving at a budget (revenue and capital) and Council Tax level for 2026/27. To ensure that the budget is aligned to Council priorities for 2024-28 as set out in the Council Plan.