Purpose

To recommend to Council the annual
budget

Decision

RECOMMENDED that the Executive, in
recommending to Council a budget and Council Tax level for
2024/25:
 
      
i.        
Agrees the provision for inflation of £4.507m
(section8.2);
 
    
ii.        
Approves a further council tax discount funded by
Bracknell Forest Council in 2024/25 of £75 for working age
households receiving council tax support as summarised in paragraph
8.3.1a);
 
   
iii.        
Confirms its support for the draft budget proposals
as set out in the report presented to the Executive’s meeting
in December 2023, subject to the revisions in section 8.3.1b) to
8.3.1k) and those decisions to be taken elsewhere on this agenda on
the capital programme;
 
   
iv.        
Agrees the additional budget proposals as set out in
Annexe A and Annexe D and in sections 6.2 (Revenue Support Grant),
6.3 (specific grants), 6.4 (business rates), 7.3 (collection fund)
, 8.2 (inflation) and 8.3 (updated pressures &
savings);
 
    
v.        
Agrees that the additional grant funding received in
the Final Local Government Finance Settlement announced on 5
February 2024 be allocated to social care services (£0.754m
in Social Care Grant) and to Special Educational Needs and
Disabilities services (£0.268m in Funding Guarantee and
£0.010m in Services Grant) with no net budget
impact;
 
   
vi.        
Agrees that the Executive Member for Children, Young
People and Learning approves the detailed budget allocations for
High Needs pupils and Early Years provisions, up to the estimated
level of available resources;
 
  
vii.        
Includes a general contingency totalling
£4.000m (section 10.7) use of which is to be authorised by
the Chief Executive in consultation with the Executive Director:
Resources in accordance with the delegations included in the
Council’s constitution;
 
 viii.        
Approves the proposed Net Revenue Budget including
the contribution of £1.509m from the Future Funding Reserve
(including £0.038m additional interest from the use of
balances) to support revenue expenditure, as set out in Annexe
G;
 
   
ix.        
Recommends a 4.99% increase in the Council Tax for
the Council’s services and that the Council Tax requirement,
excluding Parish and Town Council precepts, be set as
£80.312m;
 
    
x.        
Recommends that the Council Tax for the
Council’s services and that each Valuation Band is set as
follows:
 

Band

Tax Level Relative to Band D

£

A

6/9

1,077.42

B

7/9

1,256.99

C

8/9

1,436.56

D

9/9

1,616.13

E

11/9

1,975.27

F

13/9

2,334.41

G

15/9

2,693.55

H

18/9

3,232.26

 
   
xi.        
Recommends that the Council approves the following
indicators, limits, strategies and policies included in Annexe
E:
 

·    
The Prudential Indicatorsand Limitsfor 2024/25to
2026/27contained within AnnexeE(i);

·    
The Minimum Revenue Provision (MRP) Policy contained
within Annexe E(ii);

·    
The Treasury Management Strategy Statement, and the
Treasury Prudential Indicators contained in
AnnexeE(iii);

·    
The Authorised Limit Prudential Indicator in
AnnexeE(iii);

·    
The Investment Strategy 2024/25 to 2026/27 and
Treasury Management Limits on Activity contained in
AnnexeE(iv).
 

  
xii.        
Recommends to Council that the following additional
Council Tax premiums be applied from 1 April 2025:

 

•    A
100% premium for properties which have been empty and unfurnished
for longer than one year (rather than 2 years as currently)
and;

•    A
100% premium for second homes.

 
 xiii.        
Approves the virements relating to the 2023/24
budget as set out in Annexe H and recommends those that are over
£0.100m for approval byCouncil.