Agenda item

Final Budget and Medium-Term Financial Plan including fees and charges

Tabled update added 08.02.2023

-       Appendix II – Revenue Budget Proposals – Detailed – REVISED

-       Appendix II – Revenue Budget Proposals – Summary – REVISED

Minutes:

The Director of Resources introduced the report which set out the Council’s Revenue and Capital budget proposals for 2023/24, the Medium-Term Financial Plan (MTFP) and the Capital Strategy. She referred to the tabled update that showed the final settlement figures from government that had been received, which created a small change to a couple of figures in the budget.

 

The Chair invited Members to make comments, which included:

 

·           Sought extra information with regard to the temporary accommodation projects for the Ukrainian homes funding and the bridging project for Afghan refugees;

·           sought clarification on the final position on reserves;

·           if Members had proposals for the fees and charges figures, what was the best way to make the proposals?

 

In response, the Director of Resources said that the Council had a budget of £11 million to help fund the two temporary accommodation schemes which could be used for match-funding of the main scheme.  The Local Authority Housing Fund grant conditions meant that match-funding of the grant had to be applied for the delivery of the schemes.  The main element of the grant awarded to support Ukranian refugees allocated 40% of costs, with the Council providing the 60%, and 50% had been allocated for the bridging project for Afghan refugees. The proposal for the bridging project was to provide that funding to an external provider who would then deliver the project.

 

The Director of Resources said that there was budget contingency reserve of £2 million and the Council were re-using £1.65 million in the current year. The predictions for 2022/23 were that reserves would be £400,000 due to overspend and transfer of project funding to balance the budget, as set out in the report.

 

Finally, the Director of Resources summed up by saying that if Members had any proposals for cuts in fees and charges figures there would need to be balanced proposals, outlining where savings could be made.

 

The Chair proposed the recommendations as set out in the report and this was seconded by the Vice-Chair.

 

Recommended:

 

(1)      That the 2023/24 revenue budget proposals be approved.

(2)      That the proposed Council Tax Band D increase for 2023/24 to £194.94, or £199.26 should legislation allow districts to increase by £10.00 be approved.

(3)      That the Medium-Term Financial Plan be noted.

(4)      That the Capital Strategy be approved.

(5)      That the capital programme proposals be approved.

(6)      That the additional amount of Council Tax for Parish Precepts be noted.

(7)      That the minimum revenue provision statement be approved.

(8)      That delegated authority be given to the Director of Resources to adjust charge out rates within fees and charges as appropriate, where they are based on costs incurred.

(9)      That the use of reserves statement, as detailed in appendix VI as to ensure reserves are valid and support the assumptions in the MTFS be approved.

 

Supporting documents:

 

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