Purpose

Full suite of financial strategies and annual
budget reports covering 2024/25 and the medium term.

Content

RESOLVED: to
             
i.               
note and have regard to the section 25 report when
considering the budgets for 2024/25;
            
ii.               
note the risk assessment relating to the robustness
of estimates as set out at paragraph 9 of the section 25
report;
           
iii.               
recommend to Council that the working balances for
2024/25 be set at £1.909million for the General Fund and
£654,000 for the Housing Revenue Account;
          
iv.               
recommend to Council the approval of the Commercial
Strategy 2024-29;
            
v.               
note the key risks and assumptions set out at
paragraph 30 of the Medium Term Financial Strategy
2024-2029;
          
vi.               
recommend to Council the approval of the Medium Term
Financial Strategy 2024-2029 (as amended by the Addendum to this
report);
         
vii.               
recommend to Council the approval of an increase in
the sector limit for other investments from £2million to
£3million, as detailed at paragraph 50 of the Treasury
Management Strategy 2024/25;
        
viii.               
recommend to Council the setting of the treasury
management prudential indicators as set out at paragraphs 63-71 of
the Treasury Management Strategy 2024/25 (as amended by the
Addendum to this report);
          
ix.               
recommend to Council the approval of the Treasury
Management Strategy 2024/25 (as amended by the Addendum to this
report);
            
x.               
recommend to Council the approval of an increase in
both the authorised limit and operational boundary for other long
term liabilities from £5million to £10 million, as set
out in paragraphs 25-26 of the Capital Strategy 2024/25;
          
xi.               
recommend to Council the approval of the Minimum
Revenue Provision Statement 2024/25 as set out at Annexe
E1;
         
xii.               
recommend to Council the setting of the capital
prudential indicators as summarised at Annexe E2 (as amended by the
Addendum to this report);
        
xiii.               
recommend to Council the approval of the Capital
Strategy 2024/25 (as amended by the Addendum to this
report);
        
xiv.               
recommend to Council the approval of the Capital
Programme 2024/25 - 2028/29, including the planned application of
capital financing set out at Annexe F4;
         
xv.               
recommend to Council the approval of increases in
HRA rents as follows:
-      
General needs, supported accommodation and temporary
accommodation – a 7.7% increase in accordance with the cap
set by government for social rents;
-      
Garage rents – to be increased in line with
September 2023 CPI (6.7%)
 
           
xvi.               
recommend to Council the approval of the changes in
HRA support and service charges set out at paragraphs 21-27 of the
Housing Revenue Account budget report;
          
xvii.               
recommend to Council the approval of the proposed
HRA reserve movements for 2024/25 set out at paragraphs
47-50;
         
xviii.               
recommend to Council the approval of the Housing
Revenue Account Budget 2024/25;
           
xix.               
 recommend to Council the
approval of the Council Tax Requirement for 2024/25 of
£7,055,774, equivalent to £176.74 for a band D
property, representing a £5.13 increase on the 2023/24
amount;
            
xx.               
recommend to Council the approval of the proposed
General Fund reserve movements for 2024/25 as set out at paragraphs
63-66 of the General Fund budget report (as amended by the Addendum
to this report), including the use of £1.176million from the
Medium Term Financial Strategy reserve to balance the General Fund
budget;
           
xxi.               
recommend to Council the approval of the schedule of
fees and charges for 2024/25 as set out at Annexe H5 (as amended by
the Addendum to this report);
          
xxii.               
recommend to Council the delegation of authority to
the Strategic Director of Finance, Commercialisation and Corporate
Services (Section 151 Officer) to set and/or amend fees and charges
in relation to services which are operating in competition with
commercial providers, for example trade waste;
         
xxiii.               
recommend to Council the approval of the General
Fund budget for 2023/24 (as amended by the Addendum to this
report); and
         
xxiv.               
note the contents of the Budget Consultation Report
2024/25