Purpose

To consider an update on the impacts of the 2024/25
Finance Settlement and medium-term financial position and to
approve revenue estimates and Council Tax for 2024/25.

Content

RESOLVED –
 
THAT the Council be recommended:
 

1.        
To note the information set out in the report.
 

2.        
To note that the Council has not received any feedback following
the consultation with Non-Domestic Ratepayers, and have due regard
to the results of the equality impact assessment in Appendix G.
 

3.        
To agree:
 

(a)  That the council tax requirement for the
year 2024/25 of £141,130,750 be approved.
 

(b)  That the calculations for determining the
council tax requirement for the year  2024/25 in
accordance with the Local Government Finance Act 1992 as set out in
Appendix B be approved.
 

(c)  To note that the Greater London Authority
(GLA) precept set out in this report is £471.40 for Band D
and as shown for all bands in Appendix B and is subject to Greater
London Authority approval of the budget on 27 February
2024.   
 

(d)  That the Council sets the amount of council
tax for 2024/25 as detailed in Appendix B and notes that this will
mean a Camden element of council tax of £1,539.17 (4.99%
increase) for Band D residents not in Garden Squares be
approved.  
 

(e)  That the Council hereby determines that its
basic amount of council tax for the financial year 2024/25 is not
excessive as outlined in paragraph 2.39 be approved.
 

            
(f)   That the budget summary as set out in
Appendix C be approved.
 

(g)  That the budget investments included in
paragraph 2.18 to 2.36. including the continuation of the
Cost-of-Living Crisis Fund be approved.
 

(h)  To note that the Section 25 notice detailed
in paragraphs 7.1 to 7.20 summarising the assurance that the budget
is set using sound assumptions and the level of reserves is deemed
adequate.
 

(i)    That the Garden Squares levy
requirement received for each Garden Square Committee for 2024/25
as shown in Appendix B be approved.
 

4.      In relation to fees
and charges;
 

(a) 
That the new fees and charges and those increasing above 7%
discussed in paragraphs 2.48 to 2.49 and in Appendix D1 and listed
in Appendix D2 be approved.
 

(b) 
Authority be delegated to the relevant Executive Director to decide
increases to existing fees and charges up to a maximum of 7%, in
consultation with the relevant portfolio holders.
 

5.        
That Council notes in paragraphs 2.55 to 2.62 the planned use of
reserves, and in Paragraph 7.20 the adequacy of reserves as stated,
and that no major allocations of general balances are being
considered at this stage.
 
6.        
That having due regard to the obligations set out in section 149 of
the Equality Act 2010 and having considered the results of the
equalities impact assessment at Appendix F1:

(i) 
That the new Council Tax second home 100% premium is chargeable on
qualifying properties from 1 April 2025 and supersedes the 0%
discount currently in place as detailed in paragraphs 2.63 to 2.64
and Appendix F be approved.
 
(ii) The qualifying
period to be charged the 100% Council Tax premium on long term
empty properties is reduced from 2 years to 1 year from April 2025
as detailed in paragraph 2.63 to 2.64 and Appendix F be
approved.