Decision Maker: Finance, Policy and Resources Committee

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: February 13, 2025

Purpose: This report sets out the budget strategy and Council Tax level for the coming year.

Content: RESOLVED:   The Committee resolved to:   a)  Consider the advice of the Executive Director of Finance in respect of Section 25 of the Local Government Act 2003 in setting the budget (see paragraphs 3.36 to 3.45);   b)  Recommend that Council agree the Revenue Budget for 2025/26;   c)  Recommend that Council agree that the Band D level of Council Tax for 2025/26, including the Council’s increase in Council Tax of 2.99%, the Social Care Precept of 2% and the GLA increase of 4.0%, be set at £2,372.07, an overall increase of 4.79% on 2024/25. The levels of Council Tax for all property bands are shown at Appendix A;   d)  Note that the Medium-Term Financial Strategy was approved by this Committee in September 2024 and a further update will be provided by September 2025; and   e)  Recommend that the Council apply the Government’s statutory exceptions in relation to the premiums for second homes and long-term empty properties from 1st April 2025, (see paragraphs 3.46 - 3.51).