Final General Revenue & Capital Budget Proposals 2025-26 and Quarterly Budget Monitoring Report October-December 2024

February 18, 2025 Cabinet, Council (Other) Key decision Awaiting outcome View on council website
Full council record

Purpose

To consider the recommendations

Decision

RESOLVED THAT:  Cabinet recommends that Council:

  1. Approves the revised budget for 2024/25 which is reported as part of the budget monitoring process for 31 December 2024 in Section 6 and Appendix 17.
  2. Considers the budget assessment by the Section 151 Officer at Appendix 2 in agreeing the following recommendations.
  3. Approves the final budget proposals including a proposed council tax for the services provided by Cheltenham Borough Council of £244.79 for the year 2025/26 based on a Band D property (an increase of 2.99%), as detailed in paragraphs 9.1 to 9.6.
  4. Approves the savings / additional income totalling £1,130,000 and the budget strategy at Appendix 4.
  5. Approves the revenue growth items totalling £392,647 at Appendix 5.
  6. Approves the capital programme at Appendix 6.
  7. Approves the use of reserves and general balances and note the projected level of reserves, as detailed at Appendix 7.
  8. Approves the programmed maintenance programme at Appendix 8.
  9. Approves the Medium Term Financial Strategy (MTFS) detailed in Appendix 9.
  10. Approves the flexible use of capital receipts strategy as detailed in Appendix 10.
  11. Notes the Council position in relation to the Gloucestershire business rates pool for 2025/26.
  12. Approves the Pay Policy Statement for 2025/26, including the continued payment of a living wage supplement at Appendix 11.
  13. Notes the responses to the questions raised during the budget consultation in Appendix 12.
  14. Approves the proposed fees and charges schedule for 2025/26 at Appendix 13, subject to appropriate consultation where required.
  15. Approves the Minimum Revenue Provision Policy 2025/26 at Appendix 14;
  16. Approves a level of supplementary estimate of £100,000 for 2025/26 as outlined in Section 18.

Based on the information included in Section 15 of this report:

  1. 17. Approves the delivery of the Mobility Hub as a single-phase construction and increase the Councils commitment under the Development Funding Agreement to facilitate this change.
  2. 18. Notes that a single-phase delivery is forecast to generate a further £4.8m in land receipts to the Council.
  3. 19. Notes that despite an increased funding commitment under the Development Funding Agreement, this is more than offset by the provision of £20m in Levelling Up Funding; overall borrowing is circa £10.6m lower than previously approved.
  4. 20. Delegates authority to the Deputy Chief Executive (Section 151 Officer) in consultation with the Cabinet Member for Major Developments and Housing Delivery to finalise the terms of a Deed of Variation to the Development Funding Agreement.

Related Meeting

Cabinet - Tuesday, 18th February, 2025 6.00 pm on February 18, 2025

Supporting Documents

Final Budget Proposals 2025-26 - report.pdf
Appendix 8 - Planned Maintenance Programme.pdf
Appendix 5 - Growth Items.pdf
Appendix 12 - Budget Consultation 2025-26 Questions from the Public.pdf
Appendix 6 - General Fund Capital Programme.pdf
Appendix 11 - Pay Policy Statement 2025 -2026.pdf
Appendix 7 - Reserves Statement 24-25 25-26.pdf
Appendix 2 - Statement of Section 151 Officer.pdf
Appendix 10 - Flexible use of capital receipts strategy 2025-26.pdf
Appendix 9 - Medium Term Financial Strategy 2025-26.pdf
Appendix 3 - Net Budget Requirement.pdf
Appendix 16 - CIAT - Final budget proposal 2025-26 PDF.pdf
Appendix 13 - Fees Charges Schedule for 2025-26.pdf
Appendix 14 - MRP-Statement 2025-26.pdf
Appendix 15 - Equality Impact Assessment.pdf
Appendix 17 - Movement of 2024-25 Revised Budget.pdf
Appendix 4 - Proposed Budget Savings and Additional Income.pdf

Details

OutcomeFor Determination
Decision date18 Feb 2025
Effective from26 Feb 2025
Expected date21 Feb 2025
Originally due21 Feb 2025
Lead officerGemma Bell
Subject to call-inYes