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The Cabinet received a report setting out
proposals to balance the budget for 2025/26 and updating
projections on funding for next year following the Autumn
budget.
 
Members noted that although the Council was
close to meeting its funding gap for next year it would continue to
focus on this over the next few weeks.
 
The Portfolio Holder for
Resources and Transformation reported a correction within the
report that the higher business rate multiplier applicable from
2026/27 announced in the Autumn budget affected 35 businesses and
not 15 as outlined.  She also thanked
the Finance Team for their hard work to get the Council to this
point.
 
The Strategic Director (CF)
advised that a further report would be brought back with further
savings options, to Cabinet in January 2025, and once the
prescribed levels in the increase in Council Tax were
known.
 
It was RESOLVED:
 

1.   
That the Balancing the Budget options as set out in the report and
Appendix A, totalling £184,749 (saving) for the General Fund
and £13,951 HRA respectively for 2025/26 be approved and
incorporated into the Council’s budget setting processes.

2.   
That the remaining savings target to find set out in paragraph
4.8.11 be noted and reported back to the Cabinet in December
2024.

3.   
That the revised GF MTFS financial summary, as shown in section
4.11 to this report be noted.

4.   
That the completion of the Business rates for 2024/25 (NDR 1) be
delegated to the Strategic Director (S151) after consultation with
the Resources and Transformation Portfolio holder (paragraph 4.3.5
refers).

5.   
That the Council’s recognised unions be consulted regarding
the proposed budget package.

6.   
That key partners and other stakeholders be consulted, and their
views considered as part of the 2025/26 budget setting process.