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*RESOLVED –
 

1.  
That the budget savings proposals described in
paragraph 4.54 of the officer’s report are approved for
immediate implementation.
 
That it be recommended that
Council;
 

2.  
Notes the forecast outturn for 2023/24 which
presents a deficit for the year of £282k to period 8
(paragraph 4.18) and the further management controls proposed to
achieve a balanced outturn position for 2023/24 by year
end.
 

3.  
Approves the overall revenue budget for 2024/25
(table 4 and Appendix B in the officer’s report).
 

4.  
Approves the use of £214k from the Budget Risk
Reserve to balance the 2024/25 revenue budget (paragraph
4.66)
 

5.  
Approves the submission of a proposal to employ
flexible use of capital receipts in the financial years 2023/24 and
2024/25 and to delegate the amendment and final approval of this
proposal to the Service Director – Finance (CFO), in
consultation with the Deputy Leader and Cabinet Member for Finance
and Asset Management (paragraph 4.90 to 4.92).
 

6.  
Approves the 2024/25 Council Tax Requirement and
financing (Appendix H and I in the officer’s
report).
 

7.  
Increases the Council’s share of Council Tax
for properties in each band, a 2.99% increase for a Band
‘D’ property in 2024/25 to £190.81 (paragraph
4.61).
 

8.  
Approves the Local Council Tax Support scheme which
remains unchanged for 2024/25 (paragraph 4.64).
 

9.  
Notes the Collection Fund and the Tax Base forecasts
(paragraphs 4.60, 4.63 and 4.33).
 
10.  
Notes the financial projections in the Medium-Term
Financial Plan (MTFP) for 2025/26 to 2027/28 (Table 4 and paragraph
4.68).
 
11.  
Approves the estimates of reserves including
maintaining the General Working Balance at £1.5m (paragraphs
4.70 – 4.72).
 
12.  
Notes the budget risks and sensitivity analysis
(Appendix D) and the Chief Finance Officer’s assurances
(paragraphs 4.73 – 4.88).
 
13.  
Notes that Cabinet (or the Joint Cabinet and
Employment and General Committee) has still to make final decisions
on the budget savings proposals described in paragraph 4.55 of the
officer’s report.
 
REASON FOR RECOMMENDATIONS
 
For the Council to meet the
statutory requirements relating to setting the General Fund revenue
budget and the level of Council Tax for 2024/25.