Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: February 10, 2025

Purpose:

Content: That Cabinet is recommended to consider this report, and make the following recommendations to Full Council for approval, for the reasons set out in this report and appendices: To approve a balanced budget for 2025/26 as set out in the report, including the underlying principles and assumptions.   To approve £12.3m of new investment on key services for residents. To increase the Hammersmith & Fulham element of Council Tax by 2.99% as modelled by the Government in its spending power calculations for local government.   To apply the Adult Social Care precept levy of 2% as modelled bythe Government in its spending power calculations for local government.   To approve fees and charges, as set out in Appendix E, including freezing charges in adult social care, children’s services, and General Fund housing. To approve the Medium-Term Financial Strategy and to note the proposed funding reforms from 2026/27 onwards and budget projections to 2028/29 made by the Executive Director of Finance and Corporate Services in consultation with the Strategic Leadership Team. (Appendix B) To note the statement of the Executive Director of Finance and Corporate Services, under Section 25 of the Local Government Act 2003, regarding the adequacy of reserves and robustness of estimates (paragraph 66). To approve the reserves strategy and forecast as set out in Appendix H. To require all Directors to report on their projected financial position compared to their revenue estimates in accordance with the Corporate Revenue Monitoring Report timetable. To authorise Directors to implement their service spending plans for 2025/26 in accordance with the recommendations within this report, the council’s Standing Orders, Financial Regulations, relevant Schemes of Delegation and undertake any further consultation required regarding the Equalities Impact Assessment. Set the council’s element of Council Tax for 2025/26 for each category of dwelling, as outlined in the table below and in full in Appendix A and calculated in accordance with Sections 31A to 49B of the Localism Act 2011. Category of Dwelling A B C D E F G H Ratio 6/9 7/9 8/9 1 11/9 13/9 15/9 18/9 H&F (£) 640.69 747.47 854.25 961.04 1,174.60 1,388.16 1,601.73 1,922.08   To note, based on the Mayor of London’s draft consolidated budget, the element of Council Tax to be charged by the Greater London Authority in accordance with Section 40 of the Local Government Finance Act 1992 for each of the categories of dwellings as shown in the table below. Category of Dwelling A B C D E F G H Ratio 6/9 7/9 8/9 1 11/9 13/9 15/9 18/9 b) GLA (£)      326.92        381.41         435.89   490.38      599.35        708.33        817.30        980.76     13.That the overall Council Tax to be set at £1,451.42 per Band D property as follows: Category of Dwelling A B C D E F G H Ratio 6/9 7/9 8/9 1 11/9 13/9 15/9 18/9 a) H&F (£) 640.69 747.47 854.25 961.04 1,174.60 1,388.16 1,601.73 1,922.08 b) GLA (£) 326.92 381.41  435.89 490.38 599.35 708.33 817.30 980.76 c) Total (£) 967.61 1,128.88 1,290.14 1,451.42 1,773.95 2,096.49 2,419.03 2,902.84   14.To authorise the Executive Director of Finance and Corporate Services to collect and recover National Non-Domestic Rate and Council Tax in accordance with the Local Government Finance Act 1988 (as amended), the Local Government Finance Act 1992 and the Council’s Scheme of Delegation. 15.To note the Council’s estimated position on the Collection Fund (as set out in paragraph 60). 16.To note the performance on the management of arrears across the Council on all debts due (as set out from paragraph 71).