Purpose

To recommend to Council the proposed 2025/26
revenue budget, Medium Term Financial Strategy and the Treasury
Management Strategy.

Decision

Recommendation(s) That Cabinet recommends to
Council for approval:
 

a)   
the council tax base of 72,816.74 Band D equivalents in
2025/26;
 

b)   
 an increase in core council tax for
2025/26 of 2.99%;
 

c)    
an additional precept in respect of adult social care costs of 2%
applied to council tax in 2025/26 resulting in a total council tax
increase of 4.99%, increasing the band D charge from
£1,875.76 to £1,969.36 for Herefordshire Council in
2025/26;
 

d)   
the balanced 2025/26 revenue budget proposal totalling £231.5
million, subject to any amendments approved at the meeting,
specifically the net spending limits for each directorate as at
appendix C;
 

e)   
delegates to the section 151 officer the power to make necessary
changes to the budget arising from any variations in central
government funding allocations via general reserves;
 

f)     
the Medium Term Financial Strategy
(MTFS) 2025/26 to 2028/29 at appendix A be approved;
 

g)   
the Treasury Management Strategy at appendix D be approved;  
 

h)   
the responses to scrutiny committee recommendations to follow in a
supplementary paper to be approved; and
 
Additional recommendation
(i) was also agreed at the meeting:
 

i)     
the allocation of additional funding, above that assumed in this
revenue budget and as confirmed in the Final Local Government
Finance Settlement, firstly to make provision to support the
development of the Local Plan and secondly, to be transferred to
the Financial Resilience Reserve to mitigate the potential
unfavourable outcome of the Fair Funding Review planned in
2025.