Issue - decisions


28/02/2023 - REVENUE BUDGET 2023/24

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


(3)  Noted 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)  Approved the revenue savings and investments as detailed in Appendix B.


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


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


(7)  Approved that the revenue investment for leisure centre condition surveys (as detailed in Appendix B, reference R13) and £10k of the consultancy and legal support for the leisure contract (as detailed in Appendix B, reference R37) is brought forward so that it can be spent in 2022/23.


(8)  Approved 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.


(9)  Noted the staff resourcing issues that the Council faces, particularly in relation to planning and the strategic implementation of the Local Plan. Council further notes that Cabinet and the Head of Paid Service will look at options to make use of available resources (such as carry-forward of unspent salary budgets) to support the delivery of key Council functions and priorities.


REASON FOR DECISION: To ensure all relevant factors are considered in arriving at a budget and Council Tax level for 2023/24. To ensure that the budget is aligned to Council priorities for 2023/24 as set out in the Council Plan.