Purpose

Consider the General Fund Revenue Budget for 2024/25

Content

Cabinet:
 
a) Noted the detailed budgets
presented at Appendix B, and summarised at Appendix A, with an
estimated General Fund Gross Operating Expenditure for 2024/2025 of
£76.731 million, estimated Gross Operating Income of
£48.306 million and estimated General Fund Net Operating
Expenditure of £28.425 million.
 
b) Acknowledged the key factors
which have led to the proposed 2024/2025 General Fund Revenue
Budget, with service pressures summarised at Appendix C and
offsetting efficiency savings/policy options summarised at Appendix
D.
 
c) Acknowledged that the 2024/2025
General Fund Revenue Budget gross expenditure is covered by
forecast income sources (assuming no change in Government grant)
and, therefore, any addition(s) to expenditure that are made by the
Cabinet or Council will need to be met from the General Fund
Balance.
 
d) Approved the 2024/2025 General
Fund Revenue Budget taking into account the statement by the Chief
Finance Officer on the risks and robustness of the estimates as
required under Section 25 of the Local Government Act 2003
(reproduced at Appendix F).
 
e) Set the Council Tax Requirement
for 2024/2025 at £11,688,650.
 
f) Approved an increase in the
District element of the Council Tax of £5 per annum, giving
an average Band D Council Tax of £170.31, plus the relevant
amounts required by the precepts of the Parish Councils,
Cambridgeshire County Council, Cambridgeshire Police & Crime
Commissioner, the Cambridgeshire Fire Authority, and the
Cambridgeshire and Peterborough Combined Authority
Mayor.
 
g) Approved the estimates of the
amounts required to be made under the Non-domestic Rating (Rates
Retention) Regulations 2013 as set out in paragraphs 38 -
41.
 
h) Approved the use of the
additional income from the Business Rate Pool, estimated at
£1,100,000 in 2024/2025, for transfer to the established
Renewables Reserve for priority projects.
 
i) Recommended to Council that it
approves:
 

(i)           
The 2024/2025 General Fund Revenue Budget based on
known commitments at this time and planned levels of
Service/functions resulting in a Budget Requirement of
£37.125 million.

(ii)         
The District Council Precept on the Collection Fund
(Council Tax Requirement) of £11.689 million in 2024/2025
(based on the Provisional Government Settlement) and a Band D
Council Tax of £170.31.