Purpose

To approve the recommended package of budget
proposals to enable the Council to agree the: General Fund (GF)
Revenue Budget and Council Tax for 2024/25;
Housing Revenue Account (HRA) Budget for 2024/25; 5 Year General
Fund & HRA Capital Programme; 3 Year General Fund MTFS; and 5
Year HRA MTFS.
To comply with the requirement of the Council’s Treasury
Management Policy in reporting to Council the proposed strategy for
the forthcoming year and the Local Government Act 2003 with the
reporting of the Prudential Indicators and the requirement to
prepare an annual Corporate Capital Strategy.

Decision

Report of the
 
 

Resolved

that the committee
approved

 

 

1.

the Vision Statement, Priority
Themes, Corporate Priorities and Outcomes for 2025 – 2030
(Appendix 1);
 

2.

the proposed revisions to
Service Revenue Budgets (Policy Changes) (Appendix E of the
MTFS);
 

3.

the sum of £33,143 be
applied from Council Tax Collection Fund surpluses in reducing the
Council Tax demand in 2025/26 (Table 16, Section 7.8 of the
MTFS);
 

4.

the sum of £92,642 be
applied to Business Rates Collection Fund deficits in 2025/26
(Table 16, Section 7.8 of the MTFS);
 

5.

that on 12th December 2024, the
Cabinet calculated the Council Tax Base 2025/26 for the whole
Council area as 23,596 [Item T in the formula in Section
31B(3) of the Local Government Finance
Act 1992, as amended (the "Act")];
 

6.

that the Council Tax requirement for the
Council’s own purposes for 2025/26 is £4,925,901
(Appendix F and Appendix H of the MTFS);
 

7.

the following amounts as calculated for the
year 2025/26 in accordance with Sections 31 to 36 of the Act:
a.       £4,925,901
being the amount calculated by the Council in accordance with
Section 31A(4) of the Act as its Council
Tax requirement for the year (Item R in the formula in Section
31A(4) of the Act);
b.       £208.76 being
the amount at 6 (a) above (Item R), all divided by Item T (at 4
above), calculated by the Council, in accordance with Section
31B(1) of the Act, as the basic amount
of its Council Tax for the year;
 

8.

the Council Tax level for the Borough Council
for 2025/26 of £208.76 (an increase of £6.06 (2.99%) on
the 2024/25 level of £202.70) at Band D;
 

9.

an aggregate Council Tax (comprising the
respective demands of the Borough Council, Staffordshire County
Council, Office of the Police and Crime Commissioner Staffordshire
and Stoke-on-Trent and Staffordshire Fire and Rescue Authority) of
£2,209.81 at Band D for 2025/26 be noted (£2,107.68 in
2024/25) (Appendix H of the MTFS);
         

10.

the Council Tax levels at each band for
2025/26 (Appendix H of the MTFS);
 

11.

In accordance with Section 11c of the
Levelling Up and Regeneration Act     2023, a discretionary council
tax premium of 100% on second homes and  empty homes to be
implemented with effect from 1st April 2026;
 

12.

the sum of £148,939 be transferred to
General Fund Revenue Balances in 2025/26 (Appendix F of the
MTFS);
 

13.

the Summary General Fund Revenue Budget for
2025/26 (Appendix F of the MTFS);
 

14.

the Provisional General Fund Budgets for
2026/27 to 2027/28, summarised at Appendix F of the MTFS, as the
basis for future planning;
 

15.

minimum level for balances of £500k to
be held for each of the General Fund, Housing Revenue Account,
General Capital Fund and Housing Capital Fund;
 

16.

Cabinet be authorised to release funding from
the General Contingency budget and that the release of funding for
Specific Contingency items be delegated to the Corporate Management
Team in consultation with the Leader of the Council;
 

17.

proposed HRA Expenditure level of
£19,713,680 for 2025/26 (Appendix I of the MTFS);
 

18.

rents for Council House Tenants for 2025/26 be
set at an average of £110.40 (2024/25 £107.50), over a
48 week rent year (including a 2.7%
increase in line with the Government’s updated Rent Standard
for 2025/26);
 

19.

rents for Council House Tenants due for 52
weeks in 2025/26 be collected over 48 weeks;
 

20.

the HRA deficit of £409,240 be
transferred from the Housing Revenue Account Balances in 2025/26
(Table 18, Section 8.8 of the MTFS);
 

21.

the proposed 5 year
General Fund Capital Programme of £7,162,780, as detailed in
Appendix 1 to the MTFS;
 

22.

the proposed 5 year
Housing Capital Programme of £51,047,190, as detailed in
Appendix 1 to the MTFS;
 

23.

to delegate authority to Cabinet to
approve/add new capital schemes to the capital programme where
grant funding is received or there is no net additional cost to the
Council;
 

24.

the Treasury Management Strategy Statement,
the Treasury Management Policy Statement, Minimum Revenue Provision
Strategy and Annual Investment Statement 2025/26 (as detailed at
Appendix 3);
 

25.

the Prudential and Treasury Indicators and
Limits for 2025/26 to 2027/28 contained within Appendix 3 to the
MTFS;
 

26.

the detailed criteria of the Investment
Strategy 2025/26 contained in the Treasury Management Strategy;
and
 

27.

the Corporate Capital Strategy and associated
Action Plan (as detailed at Appendix 1 of the MTFS).
 

 

(Moved by
Councillor D Foster and seconded by Councillor L Smith)