Issue - meetings

To consider and approve the revised General Fund Budget and Capital Programme for 2023/24 and to consider and recommend to Council the General Fund Budget Estimates 2024/25 and the Medium-Term Financial Strategy 2024/25 to 2028/29; the Council Tax levels for 2024/25; the Capital Programme 2024-2027, and the Treasury Management Strategy Statement, Capital Strategy and Annual Treasury Investment Strategy for 2024/25.

Members considered the Budget 2024/25 and Medium-Term Financial Strategy 2024/25 to 2028/29 report presented by Councillor Boden.

Councillor Boden wanted to put on record his thanks to Mark Saunders, Chief Accountant, for the work put in this and every year which is much appreciated by all members, to Peter Catchpole the S151 Officer, and to Sian Warren and the Finance team for the large amount of work put into producing these figures.

Councillor Boden added that it has been a difficult financial year for several reasons, not least the high level of inflation, excessive temporary staff costs, particularly in Planning, and continued excess costs for temporary accommodation under the Council’s homeless obligations. The Council is seeking to remedy the latter two, reducing staff costs through filling vacant posts, and the possibility of restructuring work to minimise the number of temporary staff, and a considerable amount of expenditure in purchasing 30 properties to be used for temporary accommodation to reduce the cost that the Council failed to recover from central Government. 

In presenting the report, Councillor Boden mentioned that in respect of council tax there is some moral issue about not taking more from the public than this Council needs to balance the books and should continue to fulfil the election promise that only the amount of council tax will be taken that is needed. However, there are challenges ahead, including that of the transformation necessary to continue to push through cost efficiency, savings, and rationalisation of the work the Council does and there will be some difficult decisions to make. Additionally, there will be the challenge of the capital programme, the way it will be funded and the extent to which it will be able to be implemented. But this council is in a far stronger position than many others around the country thanks to many years of prudence of councillors and the good guidance of officers.

Proposed by Councillor Boden, seconded by Councillor Mrs French and AGREED that:

(i)           The revised estimates for 2023/24 as set out in Section 7 and Appendix A showing an estimated shortfall of £548k (to be funded from the Budget Equalisation Reserve) be approved: and

AGREED to recommend to Council that:

(ii)          The General Fund revenue budget for 2024/25 as set out in Section 8 and Appendix A be approved.

(iii)        The Medium-Term Financial Strategy as outlined in this report and Appendix B be adopted.

(iv)        The Capital Programme and Funding Statement as set out in Appendix D be approved.

(v)          The adoption of the additional Business Rates Relief measures as detailed in Section 6 using Discretionary Relief Powers be approved.

(vi)        The expenses detailed in Section 11 be approved to be treated as general expenses for 2024/25.

(vii)       The Port Health levy for 2024/25 be set as shown in Section 12.

(viii)     The current working age Council Tax support Scheme be adopted with effect from 1 April 2024 as set out in Section 14, with appropriate changes to the prescribed pensioner scheme as  ...  view the full minutes text for item 55