Content

Following consideration of the officer report,
appendices, and discussion, the Executive resolved to agree and
recommend to Full Council:
 
In respect of the Robustness of the
Budget  

Note the conclusions of the
Council’s Interim Chief Finance Officer (Section 151 Officer)
in their Section 25 report (Appendix A) confirming the robustness
of the Budget estimates and the adequacy of the level of reserves
for 2025/26 and their warning about the forecast deficits and the
lack of Financial Sustainability over the period 2026/27 to
2029/30. 

 
In respect of the General Fund Revenue
Budget 2025/26 

Having considered the detailed
Equalities Impact Assessments Appendix L, approve the Savings and
Income generation plans outlined in Appendices B(i) B(ii) and B(iii). 

Approve the additional funding for
new Growth requirements set out in Appendix C. 

Approve the General Fund Net Revenue
Budget for 2025/26 of £622.089m and the individual Executive
and Service Directorate Budgets for 2025/26 as outlined in
Appendix D. 

Note the MTFP Movements set out in
Appendix E from the report that was presented to Executive
in December 2024. 

Note the MTFP for the next five
years set out in Appendix F and the MTFS 2025/26 –
2029/30 Strategy Document set out in Appendix G. 

Approve the changes to the Fees and
Charges schedule for 2025/26 set out in Appendix
H. 

Note the Specific Revenue Grants
Schedule 2025/26 set out in Appendix I 

Note the Parking Account for 2025/26
set out in Appendix K 

Note the MTFP Cumulative Equalities
Impact Assessment set out in Appendix L. 

Note the 2025/26 Budget Consultation
Feedback set out in Appendix M 

Note and agree that the 2025/26
Budget has been balanced. The budget includes £43.000m of
Exceptional Financial Support from MHCLG in the form of a
Capitalisation Direction which enables operational expenditure to
capitalised. 

Note and accept that conditions will
be attached to the Exceptional Financial Support Capitalisation
Direction that Somerset Council will need to accept and
fulfil. 

 
In respect of the Dedicated Schools
Grant 

Note that the forecast spending on
the Dedicated Schools Grant, set out in Appendix J(i) is forecast to exceed the funding provided
by government by £33.914m in 2025/26 and is projected to
reach a cumulative deficit of £99.125m by 31 March
2026. 

Note the overall Dedicated Schools
Grant allocation of £481.393m for 2025/26 and breakdown by
block set out in Appendix J(ii). 

 
In Respect of the Earmarked
Reserves 

Note that the level of General
Reserves is maintained within the risk-based assessment range of
£31.104m minimum to £62.208m maximum level. 

Note the Earmarked Reserves
reprofiling as set out in Appendix N. 

Note the overall estimated position
of Earmarked Reserves outlined in Table 17 and the proposed use of
reserves detailed in Appendix N which includes the estimated use of
Earmarked Reserves during the year. 

 
In respect of the General Fund
Capital 

Consider and approve the Capital
Investment Strategy for 2025/26 to 2029/30 set out in Appendix
O 

Approve the £235.103m new
Capital proposals 2025/26 to 2029/30 set out in Appendix
P 

Approve the revised Capital
Programme of £1,077.384m 2024/25 to 2029/30, as set out in
Appendices Q(i) and
Q(ii). 

 
In respect of the Treasury Management
Strategy and Prudential Indicators 2025/26 

Approve the Treasury Management
Strategy 2025/26 set out in Appendix R(i) 

Approve the Minimum Revenue
Provision 2024/25 & 2025/26 set out in Appendix
R(i) 

Approve the Non
Treasury Investment Strategy 2025/26 set out in Appendix
T 

 
In respect of Council Tax 

Approve the calculations for
determining the Council Tax requirement for the year 2025/26 in
accordance with the Local Government Finance Act 1992 set out in
the Council Tax Resolution in Appendix U. 

Agree to continue the Council Tax
precept of £14.65, included in the overall band D Council Tax
for the shadow Somerset Rivers Authority (representing no increase
for 2025/26). This results in a Council Tax Requirement of
£3,112,887 for the Somerset Rivers Authority 

Approve the increase in Council Tax
for a band D property for Somerset Council, including the Somerset
Rivers Authority Precept, by £129.43 for 2025/26, giving a
Band D Council Tax of £1,857.61 per year, being: 

                                
i.        
The General Band D Council Tax by 5.49%, £94.87, being the
maximum permitted without a referendum and the additional 2.5%
permitted by the Ministry of Housing Communities and Local
Government as part of the Local Government Finance Settlement for
2025/26; and 
                               
ii.        
The Adult Social Care Precept by 2.00%, £34.56. 

Approve a Special Expenses rate of
£151,509 as detailed in Appendix U. 

Approve the precept requirement of
£394,863,503 (including Special Expenses Rate)
£394,711,994 (excluding Special Expenses Rates). 

Approve the 7.49% increase formal
Council Tax resolution, in Appendix U, for Council Tax
incorporating: 

 
·      
5.49% General Council Tax (including an additional 2.5% EFS)
and 
·      
2.00% Adult Social Care Precept and 
·      
Note the precepting bodies precepts on page 11 of Supplement
2 

Note the Council Tax Scenarios set
out in Appendix V