Decision

The Cabinet:
 
2.1.        
Delegate to the Cabinet Member for Finance and Commissioning and
the Director – Finance, Regulation and Enforcement (Section
151) responsibility to update the MTFS prior to Council to reflect
any significant changes in the Final Local Government Finance
Settlement for 2025/26, and any other changes necessary to finalise
the Medium Term Financial Strategy prior to Full Council.
 
That Cabinet recommend to Council for
approval:
 
2.2.        
The 2025/26 Revenue Budget of £15,755,000, Council Tax
Requirement of £8,215,000 and a District Council proposed
Band D Council Tax for 2025/26 of £197.85 (an increase of
£5 or 2.59%).
2.3.        
The MTFS 2024-29 Revenue Budgets set out in APPENDIX A.
2.4.        
The MTFS 2024-29 Capital Strategy including the 25 year capital
investment model and the Capital Programme shown in APPENDICES B
& C.
2.5.        
The Minimum Level of General Reserves remaining at
£2,000,000.
2.6.        
The recommended approach to funding Business-as-Usual Capital
Investment in 2028/29.
2.7.        
The updated approach to budget pressures, additional income,
specific grants and spend plans, potential forward funding of
capital projects, the pay award in 2025/26 and Treasury Management
income.
2.8.        
The inclusion of an in-year growth/contingency budget of
£1,036,830 in 2025/26.
2.9.        
The Minimum Revenue Provision Statement for 2025/26, at APPENDIX D,
which sets out the Council’s policy of using the asset life
method for making prudent provision for debt redemption.
2.10.     
Treasury Management Strategy Statement for 2025/26 at APPENDIX
E.
2.11.     
The inclusion of a new limit of £5m for UK domiciled Money
Market Funds based on advice from Arlingclose in the Treasury
Management Strategy Statement at APPENDIX E
2.12.     
The Investment Strategy Report at APPENDIX F where no changes are
recommended for 2025/26.
2.13.     
The Capital and Treasury Prudential Indicators for 2024-29 in the
financial implications section.
2.14.     
The Authorised Limit Prudential Indicator shown within the
financial implications section.
2.15.     
2.15 The updated Corporate Fees and Charge Policy at APPENDIX
H.
 
That the Cabinet notes:
 
2.16.     
The requirements and duties that the Local Government Act 2003
places on the Authority on how it sets and monitors its Budgets,
including the CFO’s report on the robustness of the Budget
and adequacy of Reserves shown in APPENDIX G.
2.17.     
The results of the Budget Consultation summarised at APPENDIX
I.