Agenda item

Budget 2024/25 and Medium Term Financial Strategy 2024/25 to 2028/29

To consider the Cabinet recommendations in relation to 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 General Fund Budget Estimates 2023/24 and the Medium-Term Financial Strategy 2023/24 to 2027/28; and Capital Programme 2023/26 report presented by Councillor Boden.


Councillor Nawaz commented that it is pleasing to notice this council is not one of the one in five councils expecting to issue Section 114 notices and thanked the officers, Leader and Finance Portfolio Holder and all members involved in producing this report against so many budgetary pressures. He also thanked officers for their very good housekeeping.


Proposed by Councillor Boden, seconded by Councillor Tierney and AGREED that the following be approved:


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

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

(iii)        the Capital Programme and funding statement as set out in Appendix D be approved.

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

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

(vi)        the Port Health levy for 2024/25 be set as shown in Section 12;

(vii)       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 determined by regulations.


(viii)     the Long-Term Empty Premium and Second Homes premium be amended as detailed in Section 15 as follows:

(a)  to agree to shorten the period that a 100% Council Tax premium on long term empty dwellings is payable from the current 2 years (empty) to 1 year from 1 April 2024.

(b)  to agree to implement the 100% Council Tax premium on all second homes from 1 April 2025.

(c)  to agree that the classes of properties detailed in paragraph 15.10 do not attract the long-term empty premium for the periods specified.

(ix)        the Treasury Management Strategy Statement, Minimum Revenue Provision, Treasury Investment Strategy, Prudential and Treasury Indicators for 2024/25 and Capital Strategy 2024/25 as set out in Section 16 and Appendix E be approved.

(x)          the Band D Council Tax level for Fenland District Council Services for 2024/25 be set at £254.79, a decrease of 0.18% (£0.45) on the current year.


The Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014impose an obligation on Local Authorities (after 25 February 2014) to record all votes on decisionson budget andcouncil tax, with this inmind Membersvoted on thisitem as follows:


In Favour: Councillors Barber, Benney, Boden, Carney, Christy, J Clark, S Clark, Connor, Count, Cutler, Mrs Davis, Foice-Beard, Mrs French, Hicks, Hoy, Humphrey, Imafidon, Meekins, Murphy, Nawaz, Oliver, Patrick, Purser, Rackley, Roy, Seaton, Sennitt Clough, Summers, Taylor, Tierney, Wallwork, Woollard


Against: None


Abstentions: None


(Councillor Sennitt Clough declared an interest in this item by virtue of her husband being Class P but will remain open minded and will participate in the debate).

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