Agenda item

To recommend to Council the capital and revenue budget proposals together with the Capital Strategy, Prudential Indicators, Treasury Management Strategy, Investment Strategy and General Fund Medium Term Financial Strategy and to approve the Business Plans.

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 30/31 January 2023.

It was stated that the Council was in a good position, but was not immune to challenges ahead. The leisure centres had not received help with rising energy costs that other businesses received from the Government.

                        RESOLVED to approve the service plans for the Council’s corporate priorities and support functions, subject to amendment as a result of any budget decisions still to be taken by Council, recommended by the Overview and Scrutiny Committee.

RECOMMENDED to Council that:

1.         The Housing Revenue Account budget as submitted be approved (appendix 2)

2.         The General Fund revenue budgets as submitted be approved

(appendix 3).

3.         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 (appendix 4).

4.         An amount of £25,000 be provided for a General Contingency in

2023/24 (appendix 3).

5.         The Council Tax Requirement for 2023/24 including special expenses (but excluding local precepting requirements) be £6,372,250 (appendix 3).

6.         An amount of £938,181 be withdrawn from the General Fund reserve in 2023/24 (appendix 3).

7.         An amount of £252,561 be taken from the General Fund earmarked reserves in 2023/24 (appendix 3).

8.         The Capital Strategy 2023/24 to 2025/26 be approved (appendix 5)

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

(appendix 6).

10.       The Treasury Management Strategy Statement 2023/24 to 2025/26 be approved (appendix 6).

11.       The Investments Strategy 2023/24 to 2025/26 be approved (appendix 7).

12.       The General Fund Medium Term Financial Strategy to 2026/27 be approved (appendix 8).

Reason

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