Purpose

The Executive will meet to consider the launch of the public budget consultation.

Content

Recommendations of the Executive, which met on 10 February
2025, are set out in the Budget Setting Report which went to Strategy &
Resources Scrutiny Committee also held on 10 February before the meeting of the
Executive. The Executive noted the summary of changes on the General Fund
revenue positions which had been highlighted at the Strategy & Resources
Scrutiny Committee. Unless otherwise specified, all references in the
recommendations to appendices, pages and sections relating to the
Budget-Setting Report which can be found via the Council agenda page: Agenda
for Council on Monday, 24th February, 2025, 6.00 pm - Cambridge Council As the
meeting immediately followed the meeting of the Strategy and Resources where
the Budget-Setting Report had been scrutinised there was no further debate, and
the Chair went straight to the vote. The Executive resolved unanimously to:
General Fund Revenue Budgets: a) Recommend to Council for approval the revenue
pressures and bids shown in Appendix D(a) and the revenue savings and increased
income shown in Appendix D(b). b) Recommend that Council confirms delegation to
the Chief Finance Officer of the calculation and determination of the council
tax taxbase which is set out at Appendix A(a). c) Recommend that Council
approves the increase to the city council share of council tax for 2025/26 at
2.99%, and the updated council tax levels as set out on page 17 of the attached
Budget Setting Report 2025/26. Note that the council’s preceptors
(Cambridgeshire Police & Crime Commissioner, Cambridgeshire &
Peterborough Fire Authority, 5 The Executive CmSrvc/6 Monday, 10 February 2025
Cambridgeshire County Council and Cambridgeshire & Peterborough Combined
Authority) will meet to confirm their precepts on or before 13 February 2025,
following which the formal council tax calculation will be carried out for
approval by Council. d) Recommend that Council delegates authority to the Chief
Finance Officer to reallocate budgets between services in relation to corporate
and/or departmental restructuring, and any reallocation of support service and
central costs in accordance with the CIPFA Service Reporting Code of Practice
for Local Authorities (SeRCOP). General Fund Capital Plan: e) Recommend that
Council approves the capital proposals set out at Appendix E(a), the revised
capital plan set out at Appendix E(c), and the revised capital funding approach
set out on page 28 of the attached Budget Setting Report 2025/26. f) Recommend
that Council approves the Capital Strategy 2025/26 attached at Appendix H.
General Fund Reserves: g) Recommend that Council note the impact of budget
proposals upon General Fund unallocated reserves, as set out on page 34 of the
attached Budget Setting Report 2025/26. h) Recommend that Council note the key
risks to the council’s financial sustainability highlighted in the table on
pages 30-31 of the attached Budget Setting Report 2025/26. i) Recommend that
Council approve in principle a contribution to the Civic Quarter Development
Reserve equivalent to the net underspend against budget for the 2024/25
financial year (currently forecast at £4.0 million). j) Recommend that Council
approve the transfers to earmarked reserves totalling £6.602 million in 2025/26
as set out on pages 32-33 of the attached Budget Setting Report 2025/26.
Section 25 Report: k) Recommend that Council note the Chief Finance Officer’s
Section 25 Report, covering the robustness of estimates and adequacy of
reserves, included at section 7 of the attached Budget Setting Report 2025/26.
6 The Executive CmSrvc/7 Monday, 10 February 2025 Treasury Management Strategy:
l) Recommend that Council approves the Treasury Management Strategy 2025/26
attached at Appendix G, including the prudential and treasury management
indicators set out at Annexe C. m) Recommends that Council approves a change to
the maturity structure prudential indicator, such that all new borrowing will
have a maturity of at least 5 years (rather than the previous 10 years), as
explained at paragraph 3.8 of Appendix G. Other: n) Recommend that Full Council
reconfirm that the incomes below will be disregarded (if above the £10
statutory disregard) when calculating entitlement to housing benefit and/or
council tax reduction. These schemes are often called local or modified
schemes: · War
disablement pension · War
widow, widower or surviving civil partner pension · Armed Forces Independence
Payment Note that the estimated cost to the council for payments of housing
benefit made under the local scheme is £1,777.50 and for council tax reduction
less than £50. o) Recommend that Council note the Equality Impact Assessment in
Appendix F covering all General Fund budget proposals. p) Recommend that Council
note the schedule of proposed fees and charges for 2025/26 in Appendix I(i) and
Confidential Appendix I(ii)