Decision details

Council considered a report by the Portfolio Holder for Resources, Councillor Clive Moesby, in relation to the Medium Term Financial Strategy 2024/25 – 2027/28, which was attached to the report at Appendix 1.  The report was presented by the Service Director of Finance & Section 151 Officer.

The Medium Term Financial Strategy (MTFS) presented only related to the General Fund as the Housing Revenue Account (HRA) assumptions were based on the 30-year Business Plan.  It set out the Council’s strategic approach to the management of its finances and outlined the various factors and influences that may impact on the Council over the next few years.

The MTFS had been produced in a period where there remained a great deal of uncertainty regarding future funding of Local Government.  Once the details of the Spending Review were known, the implications for the Council would be included in the updated Medium Term Financial Plan, which would be presented to Members in February 2024.

Councillor Mary Dooley stated that the Council had become a dynamic self-sufficient, flexible Council, whilst delivering excellent services and adapting to local aspirations and acting as the economic and environmental driver of the District.  A leap of faith had been taken when Ward Recycling had gone into administration and the Council took over the refuse collection without any disruption to services.  When Woodhead Construction went into administration the Council yet again took immediate action and there was now Dragonfly, which was wholly owned by the Council, which would now go on to build homes for the ever-increasing housing list.  The Council was dynamic, and Councillors should all be proud of it.  Councillor Dooley concluded that she wanted families to live in homes in the District and businesses to thrive in the District.

Moved by Councillor Mary Dooley and seconded by Councillor Sandra Peake

RESOLVED that (1) the Medium Term Financial Strategy as set out at Appendix 1 to the report, be approved.

(2) the Council continued to fund the General Fund revenue base budget from the full amount of New Homes Bonus (and related grants such as Services Grant) allocated by Government.

(3) the Council set the strategic intention to continue to be a member of the Derbyshire Business Rates Pool while ever it was financially advantageous for the Council to do so.

(4) the Council set the strategic intention to raise Council Tax by the maximum allowed in any given year, without triggering a Council Tax referendum, to endeavour to continue to deliver services.  (The actual Council Tax for any given year will be decided by Council in the preceding March).

(5) the Council maintained a policy of a minimum level of Balances for the General Fund of £2m.

(Service Director for Finance & Section 151 Officer)