Decision details

RESOLVED that all recommendations below be referred to Council on 31st January 2024;

1) that in the view of the Section 151 Officer, the estimates included in the Medium-Term Financial Plan 2023/24 to 2027/28, are robust and that the level of financial reserves, whilst at minimum levels are adequate, be accepted,

2) that officers report back to Executive and to the Finance and Corporate Overview Scrutiny Committee on a quarterly basis regarding the overall position in respect of the Council’s budgets.

GENERAL FUND

1. A Council Tax increase of £5.89 is levied in respect of a notional Band D property (2.99%).

2. The Medium-Term Financial Plan in respect of the General Fund as set out in Appendix 1 to the report be approved as the Revised Budget 2023/24, as the Original Budget in respect of 2024/25, and the financial projection in respect of 2025/26 to 2027/28.

3. That any further under spend in respect of 2023/24 is transferred to the Council’s General Fund Reserves.

4. On the basis that income from Planning Fees may exceed £0.500m in 2023/24, the Head of Paid Service, in consultation with the Leader, is granted delegated powers to authorise such additional resources as necessary to effectively manage the resultant increase in workload.

HOUSING REVENUE ACCOUNT

1. That Council increases its rent levels by 7.7% to apply from 1^st April 2024.

2. That the increases in respect of other charges as outlined in Appendix 4, Table 1 to the report be implemented with effect from 1^st April 2024.

3. The Medium-Term Financial Plan in respect of the Housing Revenue Account as set out in Appendix 3 and 4 to the report be approved as the Revised Budget in respect of 2023/24, as the Original Budget in respect of 2024/25, and the financial projection in respect of 2025/26 to 2027/28.

4. That under spends in respect of 2023/24 to 2027/28 are transferred to the HRA Revenue Reserve.

CAPITAL PROGRAMME

1. That the Capital Programme as set out in Appendix 5 to the report be approved as the Revised Budget in respect of 2023/24, and as the Approved Programme for 2024/25 to 2027/28.