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RECOMMENDED
TO CABINET: The Finance, Audit and Risk Committee commented
on the budget process, assumptions and risks contained within the
report, in the context that Cabinet recommend to Council that:
 

(1)  
Notes the position on the Collection Fund and how it will be
funded.

(2)  
Notes the position relating to the General Fund balance and that
due to the risks identified a minimum balance of £2.6 million
is recommended.

(3)  
Notes the net revenue savings that are likely to be required in
future years, combined with the Chief Finance Officer’s
section 25 report (Appendix D) which provides a commentary on the
risks and reliability of estimates contained in the budget.

(4)  
Approves the revenue savings and investments as detailed in
Appendix B.

(5)  
Approves the capital programme as detailed in Appendix C.

(6)  
Approves a net expenditure budget of £22.792m, as detailed in
Appendix E.

(7)  
Approves a Council Tax increase of 2.99%, which is in line with the
provisions in the Medium-Term Financial Strategy.

(8)  
Approves the Investment Strategy as detailed in Appendix F.

(9)  
Approve the adoption of the four clauses in relation to the Code of
Practice on Treasury Management (as detailed in paragraphs 8.32 to
8.35).
 
REASON
FOR DECISION:
 

(1)  
To ensure that all relevant factors are considered in arriving at a
budget (revenue and capital) and Council Tax level for 2025/26. To
ensure that the budget is aligned to Council priorities for 2024-28
as set out in the Council Plan.

(2)  
The Council’s Investment Strategy is set to comply with
relevant statutory guidance, including the CIPFA Prudential Code.
The Strategy also sets out the Council’s approach to risks in
relation to the investment of surplus cash.