Agenda item

To consider the Council's proposed 2023/24 General Fund Budget, Council Tax Support Scheme and proposals for the 2023/24 Council Tax for onward recommendation to Council.

The Executive considered a report in respect of the Council’s General Fund, Council Tax Support Scheme and proposals for the 2023/24 Council Tax for onward recommendation to Council.

It was RESOLVED:

1.          That Council be recommended to approve the 2022/23 net expenditure on the General Fund of £11,368,750, as set out in Paragraph 4.12.1 of the report.

2.          That Council be recommended to note the inclusion of the 2023/24 Fees and Charges of £325,840, including the 5% increase in market rents approved for inclusion at the December 2022 Executive (Appendix B to the report) in the draft 2023/24 budget.

3.          That Council be recommended to approve the draft General Fund Budget for 2023/24 of £12,463,780, with a contribution from balances of £572,268 and a Band D Council Tax of £232.31 (assuming a 2.99% increase), and as summarised in Appendix H to the report.

4.          That Council be recommended to note the updated position on the General Fund Medium Term Financial Strategy (MTFS), as summarised in Section 4.14 of the report.

5.          That Council be recommended to approve the minimum level of General Fund reserves of £3,419,753, in line with the 2023/24 risk assessment of balances, as shown at Appendix C to the report.

6.          That Council be recommended to approve for 2023/24 the contingency sum of £400,000 within which the Executive can approve supplementary estimates (reflecting the level of balances available above the minimum amount).

7.          That Council be recommended to approve the 2023/24 Council Tax Support Scheme, as set out in Section 4.4 of the report.

8.          That Council be recommended to approve the 2023/24 Making Your Money Count (MYMC) options, as set out in Section 4.9 and Appendix A to the report, totalling £1,341,999 and £32,502 (cost) for the General Fund and HRA respectively.

9.          That Council be recommended to approve the Growth options included in Section 4.10 of the report for inclusion in the 2023/24 General Fund (£73,150) and HRA (£56,892) budgets.

10.       That Council be recommended to note the pressures identified in Section 4.2 of the report.

11.       That Council be recommended to note that for 2023/24 a £300,000 budget to pump prime Transformation has been included in the General Fund budget to support efforts to realise the savings targets, as set out in Section 4.7 of the report.

12.       That Council be recommended to approve the use of the business rate gains only once they have been realised and that their use be ring fenced to maintain the financial resilience of the Council.

13.       That Council be recommended to note the comments from Overview and Scrutiny, as set out in Section 4.18 of the report.

14.       That Council be recommended to note the Equalities Impact Assessments appended to the report in Appendices D and E.

15.       That Council be recommended to note that key partners and other stakeholders are consulted and their views considered as part of the 2023/24 budget setting process.

16.       That the discretionary element of the funding for the Local Council Tax Top Up Scheme be awarded, as set in Paragraph 4.5.9 of the report, and any revisions to the scheme be delegated to the Strategic Director (S151 Officer), after consultation with the Portfolio Holder for Resources, Transformation and ICT.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.