Decision details

Cabinet considered recommending to Council the capital and revenue budgets proposals together with the Capital Strategy, Prudential Indicators, Treasury Management Strategy, Investment Strategy and General Fund Medium Term Financial Strategy. The service and financial plans were considered as an integral part of the budget setting process by the Overview and Scrutiny Committee on 20 and 21 January 2025.

RESOLVED that:

1.         The business plans for the Council’s corporate priorities and support service functions, subject to amendment as a result of any budget decisions still to be taken by Council as recommended by Cabinet be approved.

RECOMMENDED to Council that:

2.         The Housing Revenue Account budgets as submitted be approved.

3.         The General Fund revenue budgets as submitted be approved.

4.         The capital submissions and priorities within them be approved and that the Deputy Chief Executive be authorised to arrange the financing of the Capital Programme as necessary.

5.         An amount of £50,000 be provided for a General Fund Contingency in 2025/26.

6.         The Council Tax Requirement for 2025/26 including special expenses (but excluding local precepting requirements) be £6,862,179.

7.         An amount of £1,277,216 be withdrawn from the General Fund Reserve in 2025/26.

8.         An amount of £55,343 be taken from the General Fund earmarked reserves in 2025/26.

9.         The Capital Strategy 2025/26 to 2027/28 be approved.

10.       The Minimum Revenue Provision policy as set out be approved.

11.      The Treasury Management Strategy Statement 2025/26 to 2027/28 be approved.

12.       The Investments Strategy 2025/26 to 2027/28 be approved.

The General Fund Medium Term Financial Strategy to 2028/29 be approved.

Reason

The proposals were in accordance with the relevant legislation, Council policy and procedures, and the Council’s statutory and fiduciary powers.