Purpose

To approve the 2024/25 draft budget for
consultation.  This report provides an
estimated funding position, based on information known to date, and
sets out the key pressures and the savings proposals for each
Directorate.
 
The Council has a statutory responsibility to
set a Budget and Council Tax in advance of the commencement of the
new financial year. The 2024/25 Revenue Budget and Medium Term
Financial Strategy 2024/25 to 2027/28 will be approved by Council
in February 2024.
 

Decision

That Cabinet:
a)    
approves the 2024/25 draft revenue
budget, which includes the key pressures and savings proposals for
each Directorate, for consultation with Members, the
council’s relevant scrutiny committees, business rate payers
and the public; and
b)    
acknowledges that
until the Local Government Finance Settlement is published in late
December 2023, the funding assumed in the draft 2024/25 budget is
an estimate of expected funding.
 

Alternative options considered

1.               
It is open to Council to recommend alternative
spending proposals or           
strategies; however, given the legal requirement to set a balanced
budget, should additional expenditure be proposed compensatory
savings proposals            
must also be identified. If it is proposed to spend less, the
impact on service delivery of the proposed reduction should be
considered.
2.    
     
Council can agree a council tax increase above the referendum
principle         levels. This
is not recommended as doing so would require the increase to be
     subject to a local
referendum, incurring additional costs to the council