Decision details

RECOMMENDED TO COUNCIL: That Council

(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 risk identified a minimum balance of £2.5million was recommended.

(3)  Notes the net revenue savings that are likely to be required in future years, combined with the Chief Finance Officer’s commentary on the reliability of estimates and the resilience index.

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

(5)  Approves a net expenditure budget of £18.123m, as detailed in Appendix C.

(6)  Approves a Council Tax increase of 2.99%, which was in line with the provisions in the Medium term Financial Strategy.

(7)  Approves that the revenue investment for leisure centre condition surveys (as detailed in Appendix B, reference R13) was brought forward so that it can be spent in 2022/23.

(8)  Approves an additional revenue investment (for 2023/24 only) to create a Community Wealth Fund of £100k to support the local community in delivering projects that have wider community benefits.

REASON FOR REFERRALS:

(1)  To ensure that all relevant factors are considered in arriving at a budget and Council Tax level for 2023/24 as set out in the Council Plan.