Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: January 15, 2025

Purpose:

Content: Cabinet received a report updating members on next year’s draft General Fund budget including the Government finance settlement and the level of savings required and achieved through the Making Stevenage Even Better Balancing the Budget Programme.   Members were advised that none of the savings proposed would result in any cuts to services.  The proposed increase to Council tax was 2.99% equating to £7.15 per year on a band D rated property.   Members were also pleased to support a number of growth bids including one related to the important graffiti removal programme and the partnership with Junction 7 Creatives to produce a programme of art around the Town, alongside a much needed apprentice and graduate programme.    It was RESOLVED that:       1.    The 2024/25 revised net expenditure on the General Fund of £12,248,970 be approved as set out in paragraph 4.8.1. 2.    The draft General Fund Budget for 2025/26 of £9,910,330 be proposed for consultation purposes, with a contribution from balances of £77,949 and a Band D Council Tax of £246.41, (assuming a 2.99% Council Tax increase). 3.    The updated position on the General Fund Medium Term Financial Strategy (MTFS) as summarised in section 4.10 be noted. 4.    The minimum level of General Fund reserves of £3,421,625, which is in line with the 2025/26 risk assessment of balances, as shown at Appendix E to this report, be approved. 5.    The contingency sum of £500,000 within which the Cabinet can approve supplementary estimates, be approved for 2025/26, (reflecting the level of balances available above the minimum amount). 6.    The 2025/26 Balancing the Budget options as set out in section 4.5 and Appendix A, totalling £275,907 and £29,651 for the General Fund and HRA respectively, be included into the Council’s budget setting processes for consideration by the Overview & Scrutiny Committee. 7.    The new food waste collection and legal fees and charges as set out in paragraph 4.5.6 (and Appendix B) be approved. 8.    The use of Business Rate reserve to fund a Graduate and Apprentice scheme as set out in section 4.6 be approved for inclusion in the 2025/26 General Fund (£202,760). 9.    That a first call on underspends of £150,000 (in total from the General Fund and HRA) be approved to support the Graduate and Apprentice scheme as set out in section 4.6. 10. That the growth bid for graffiti removal of £75,000 as set out in section 4.6 be approved. 11. That the pressures identified in sections 4.2 and 4.7 to this report be noted. 12. That the Section 25 Statement on Robustness of Estimates and Adequacy of Reserve as set out in Appendix F be approved. 13. That the decisions taken on recommendations 2.2 – 2.11 above be referred to the Overview and Scrutiny Committee for consideration in accordance with the Budget and Policy Framework rules in the Council’s Constitution. 14. That the Equalities Impact Assessment appended to this report for the new fees and charges (Appendix C & D) be noted. 15. That engagement to take place with key partners and other stakeholders in order for their views to be considered as part of the 2025/26 budget setting process be approved.