Issue - meetings

The Council is required to set a balanced budget and agree the level of Council Tax for 2023/24 and this report contains a summary of the proposals that have been considered for inclusion. The proposals were considered and scrutinised in detail by the Budget Joint Overview and Scrutiny Committee on 9 January 2023.  The proposals have been consulted upon by residents and businesses during the period 16 – 30 January 2023.

Purpose of report

The Council was required to set a balanced budget and agree the level of Council Tax for 2023/24 and this report contained a summary of the proposals that had been considered for inclusion. The proposals were considered and scrutinised in detail by the Budget Joint Overview and Scrutiny Committee on 9 January 2023. The proposals had been consulted upon by residents and businesses during the period 16 – 30 January 2023.

Decision

Cabinet recommended that Full Council:

1.    Set a General Fund budget requirement of £16.800m for 2023/24 detailed at section 2 of the report and shown in detail at Appendix A (inclusive of special expenses). 

2.    Propose a Council Tax level of £178.58 for 2023/24 (Band D property) after taking into consideration the consultation findings.

3.    Notes the indicative base estimates for 2024/25 and 2025/26 as detailed at Appendix A.

4.    Approves Housing Revenue Account (HRA) dwelling rent increases of 7% in accordance with Government guideline rent providing an average rent of £92.90 per week.

5.    Approves an increase in HRA garage rents of 5%.

6.    Approves an increase in shared ownership rents by 7%.

7.    Approves the HRA Revenue Summary for the year 2023/24 and notes the indicative budgets for 2024/25 and 2025/26 shown at Appendix A of the report.

8.    Approves the fees and charges detailed at section 4 of this report and shown at Appendix B.

9.    Approves the General Fund Capital programme for 2023/24 to 2025/26 as detailed at section 5 of this report and shown at Appendix C.

10. Approves the General Fund Capital Financing statement detailed at Appendix C of this report.

11. Approves the General Fund Capital Programme budget carry forward of £2.513m from 2022/23 shown at Appendix C of this report.

12. Approves the Housing Capital Investment programme for 2023/24 to 2025/26 detailed at section 5 of this report and as shown at Appendix C.

13. Approves the HRA Capital Financing statement detailed at Appendix C of this report.

14. Approves the Housing Revenue Account Capital Investment Programme budget carry forward of £3.515m from 2022/23 shown at Appendix C of this report.

15. Approves the movements in General Fund Revenue and Capital reserves and balances detailed at section 7 of this report and shown at Appendix D.

16. Approves the movements in HRA revenue and Capital reserves and balances detailed at section 7 of this report and shown at Appendix D.

Alternative options considered and rejected

There was no option not to set a Budget for 2023/2024.

Reason for decisions

The Council was legally required to set a balanced budget each financial year.

The Budget proposals were first scrutinised in detail by the Joint Budget Scrutiny Overview and Scrutiny Committee on 9 January 2023. Both the initial proposals, and proceedings from the Joint Budget Scrutiny meeting were then considered by Cabinet at their meeting on 10 January 2023.

The draft fees and charges increases were consulted upon during the period 16-30 January 2023 and the results from this  ...  view the full minutes text for item 79