Purpose

To recommend to Council the annual
budget.

Decision

RECOMMENDED to Council:
 

1)   
That the Cabinet recommends to the Council a Net
Revenue Budget of £105.597m and Council Tax level for 2025/26
as set out in Annexe G, to include the proposals detailed in the
following recommendations i. to
vii.
 

i.      
The draft budget proposals as set out in the report
presented to the Cabinet’s meeting in December 2024, subject
to the revisions in section 9.3.1b) to 9.3.1g) and those decisions
to be taken elsewhere on this agenda on the capital
programme;
 

ii.    
The additional budget proposals as set out in Annexe
A and Annexe D and in sections 7.2 (Revenue Support Grant), 7.3
(specific grants), 7.4 and 7.5 (business rates), 8.3 (Council Tax
and collection fund) ,9.3 (updated pressures & savings) and
10.1 (Schools Budget);
 

iii.   
A provision for inflation of £4.616m (section
9.2);
 

iv.   
A general contingency totalling £3.992m
(section 11.10) 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;
 

v.    
A council tax discount of £50 for working age
households receiving council tax support (£0.170m) and a
one-off increase of £0.088m in the budget allocated for
Section 13A Council Tax reliefs and associated administrative
support (£0.045m), funded using the Financial Hardship
Reserve, as set out in paragraph 9.3.1a);
 

vi.   
A 4.99% increase in the Council Tax for the
Council’s services with the Council Tax requirement,
excluding Parish and Town Council precepts, of
£85.667m;
 

vii.  
A Council Tax for the Council’s services for
each Valuation Band as follows:
 
 
 

Band

Tax Level Relative to Band
D

£

A

6/9

1,131.18

B

7/9

1,319.71

C

8/9

1,508.24

D

9/9

1,696.77

E

11/9

2,073.83

F

13/9

2,450.89

G

15/9

2,827.95

H

18/9

3,393.54

 
 
 
 
 

2)   
That the Cabinet recommendsthat the Council approves the following indicators, limits,
strategies and policies included in Annexe E, following their
review by the Governance and Audit Committee at its meeting on 22
January 2025:
 
i.      
The Prudential Indicators and Limits for 2025/26 to
2027/28 contained within Annexe E(i);
 
ii.    
The Minimum Revenue Provision (MRP) Policy contained
within Annexe E(ii);
 
iii.   
The Treasury Management Strategy Statement, and the
Treasury Prudential Indicators contained in Annexe
E(iii);
 
iv.   
The Authorised Limit Prudential Indicator in Annexe
E(iii);
 
v.    
The Investment Strategy 2025/26 to 2027/28 and
Treasury Management Limits on Activity contained in Annexe
E(iv).
 

3)   
That the Cabinet recommends that the Council
approves the reserves and balances policy (Annexe F);
 

4)   
That the Cabinet delegates authority to the
Executive Director: Resources in consultation with the Cabinet
Members for Finance and Corporate Improvement and Environment,
Community and Housing to agree a policy for distribution of the
Section 13A budget (paragraph 9.3.1a);
 

5)   
That the Cabinet delegates authority to the Cabinet
Member for Children, Young People and Learning to approve the
detailed budget allocations for High Needs pupils and Early Years
providers, up to the estimated level of available resources
(section 10.1);
 

6)   
That the Cabinet approves a three-week consultation
on a draft new discretionary rates relief policy for charitable
organisations from 12 February to 4 March, as detailed in section
17 and Annexe Hii of this report, with the results of the
consultation to be reported to the Cabinet at its meeting in
March.