Issue - meetings
Draft Budget Proposals for 2024/2025
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Meeting: 18/01/2024 - Cabinet (Item 70)
70 Budget Proposals for 2024/25 and indicative budgets for 2025/26 and 2026/27 
PDF 510 KB
To present draft Budget proposals and estimates for 2024/25 for both the General Fund and the Housing Revenue Account.
Additional documents:
- Appendix A - General Fund Revenue Summary, item 70
PDF 193 KB
- Appendix A - HRA Summary OSC, item 70
PDF 197 KB
- Appendix B - Fees & Charges, item 70
PDF 833 KB
- Appendix C - General Fund Capital Programme and Financing Statement, item 70
PDF 22 KB
- Appendix C - HRA Capital Programme and Financing Statement, item 70
PDF 195 KB
- Appendix D - General Fund Reserves Statement, item 70
PDF 190 KB
- Appendix D - HRA Reserves Statement, item 70
PDF 184 KB
- Appendix E - Finance Risk Register, item 70
PDF 156 KB
- Appendix E - Risk Analysis of 24-25 Budget, item 70
PDF 432 KB
- Appendix F - Equality Impact Assessment, item 70
PDF 157 KB
- Webcast for Budget Proposals for 2024/25 and indicative budgets for 2025/26 and 2026/27
Minutes:
Purpose of report
To present the draft Budget proposals and estimates for 2024/25 for both the General Fund and the Housing Revenue Account.
Decision
That Cabinet:
1. Had considered, and noted the budget proposals for 2024/2025 in respect of the General Fund (Revenue and Capital), and the Housing Revenue Account (Revenue and Capital).
2. Approves a rent setting increase of 7.70% for 2024/2025.
3. Proposed an increase for garage rents and service charges of 6.7%.
4. Approves a consultation in accordance with the requirements of Section 65 of the Local Government Finance Act 1992 for the financial year 2024/2025.
Alternative options considered and rejected
The Council was legally required to set a balanced budget each financial year, therefore there had not been a ‘do nothing’ option.
Reasons for decision
The Council was legally required to set a balanced budget each year. The Budget Proposals would be further considered by Cabinet on 6 February 2024, and then go to Full Council for final approval on 29 February 2024.