Purpose

The Local Government Act 2003 requires the Chief Finance Officer (Deputy Chief Executive and CFO) to report to Members, when setting the level of Council Tax, on the robustness of the budget presented and adequacy of reserves. The CFO report highlights the strong financial management the Council. It also outlines the major financial issues facing the Council in the medium-term period, which without the Council taking a commercial approach could increase the reliance on council tax income as well as impact on the future delivery of Council services.

Decision

RESOLVED that the Executive:

1)    noted the Chief Finance Officer (CFO) report (Appendix A) and the issues contained within, including the local government finance settlement and the sections on key risks, and that they consider these when setting the council tax for 2024/25 and agreeing the Council’s medium term financial plan (MTFP);

2)    supported the Council’s response to the local government finance settlement as set out in Appendix 6 of the Chief Finance Officer report.