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The recommendations in the Supplementary
Report in Addenda 4 were approved with 37 votes in favour, 18
abstentions and no votes against.
 
The
Council RESOLVED to:
 

a.    
have regard to the statutory report of
the Executive Director of Resources and Section 151 Officer set out
in Amended Section 3.1 in approving recommendations b to d
below;

b.   
(in respect of the budget and medium
term financial strategy – at Section 4) approve the
following:
 

(1)       
the council tax and precept calculations
for 2024/25 [at Cabinet Section 4.3] and in
particular:

(i)             
a precept of
£498,633,415;

(ii)            
a council tax for band D equivalent
properties of £1,820.56;

(2)       
a budget for 2024/25 [at Amended Cabinet
Section 4.4 which incorporates the changes set out in Labour &
Co-operative Group Section 4.2];

(3)       
a medium term financial strategy for
2024/25 to 2026/27 [at Amended Cabinet Section 4.1 (which
incorporates changes to the existing medium term financial strategy
as set out in Cabinet Section 4.2 and amended by Labour &
Co-operative Group Section 4.2)];

(4)       
the Financial Strategy for 2024/25 [at
Cabinet Section 4.5];

(5)       
the Earmarked Reserves and General
Balances Policy Statement 2024/25 [at Amended Cabinet Section 4.6
which incorporates Labour & Co-operative Group Section
4.6].  This includes:

(i)             
the Executive Director of Resources and
Section 151 Officer’s recommended level of General Balances
for 2024/25 [at Amended Cabinet Section 4.6], and

(ii)            
the planned level of Earmarked Reserves
for 2024/25 to 2026/27 [at Amended Cabinet Section 4.6.1 which
incorporates Labour & Co-operative Group Section
4.6].

c.    
 (in respect
of capital – at Section 5) approve:

(1)       
the Capital & Investment Strategy for 2024/25
to 2033/34 including the Prudential Indicators and Minimum Revenue
Provision Methodology Statement [at Amended Cabinet Section 5.1
which incorporates Labour & Co-operative Group Section
5.3];

(2)       
a Capital Programme for 2023/24 to 2033/34 [at
Amended Cabinet Section 5.4 which includes new capital proposals
set out in Cabinet’s Section 5.3 which incorporates Labour
& Co-Operative Group Section 5.3].

d.   
(in respect of treasury management
– at Section 5) approve:

(1)       
the Treasury Management Strategy Statement and
Annual Investment Strategy for 2024/25 [at Cabinet Section
5.2]
including the Treasury Management Prudential Indicators and the
Specified Investment and Non-Specified Investment
Instruments.

(2)       
that any further changes required to the 2024/25
Treasury Management Strategy be delegated to the
Executive Director of
Resources and Section 151 Officer in consultation
with the Leader of the Council and the Cabinet Member for
Finance.