The Full Council meeting scheduled for Wednesday, 28 February 2024, was set to address the council's financial framework for the upcoming year and the subsequent three years, alongside strategies for treasury management and capital investment. Key discussions were also planned regarding the reactivation of an educational foundation and the council's pay policy.

Budget Framework 2024/25 and Medium Term Financial Strategy 2024/25 - 2027/28

The council was scheduled to discuss its proposed budgets for the 2024/25 financial year and the Medium Term Financial Strategy (MTFS) forecasts up to 2027/28. This comprehensive report, presented by the Cabinet Member for Finance, Growth and Core Services, outlined the formal allocation of funds to deliver council priorities and meet statutory obligations, including setting the Council Tax. Key themes underpinning the proposed budgets were value for money and financial prudence. The report detailed the need for a drawdown from reserves of £8.809m to balance the 2024/25 budget, after accounting for £15.595m in savings and £54.129m in growth. Members were asked to consider the Chief Financial Officer's opinion on the robustness of the budget proposals and the adequacy of reserves. The report also included the revised three-year Capital Programme to 2026/27 for approval. The council's participation in a new tri-borough Business Rates pool with Havering and Thurrock was also noted.

The report recommended an increase in the basic amount of Council Tax (Band D equivalent) by 2.99%, with an additional 2% for the Adult Social Care precept, bringing the total increase to 4.99%. This would result in a Council Tax of £1,531.35 for a Band D property. The Greater London Authority (GLA) precept was also noted to be £471.40 for a Band D property, an increase of 8.6%. The council's Council Tax Base for 2024/25 was set at 54,916.54, an increase of 1,589.69 on the previous year. The General Fund revenue budget for 2024/25 was set at £84.096m. The report also detailed savings and growth proposals, the use of reserves to fund the budget gap, and the proposed Capital Programme.

Treasury Management Strategy Statement 2024/25 and Capital Strategy 2024/25 to 2026/27

This report presented the annual Treasury Management Strategy Statement (TMSS), Treasury and Prudential Indicators, Annual Investment Strategy (AIS), and Capital Strategy for approval, as required by the Local Government Act 2003. The TMSS outlined the council's approach to managing its investments and borrowing, with a strong emphasis on security, liquidity, and yield. The report detailed the council's current treasury position, including external debt of £1.260bn, and projected increases in the Capital Financing Requirement (CFR) to over £2bn by March 2025. The strategy included recommendations for approving the Annual Investment Strategy, Borrowing Strategy, Capital Prudential and Treasury Indicators, the Operational Boundary Limit of £1.9bn and Authorised Borrowing Limit of £2.0bn for 2024/25, and the Capital Strategy. The report also noted that the Investment and Acquisitions Strategy (IAS) would be updated and presented in April 2024. The economic background and interest rate forecasts from treasury advisors Link Group were also provided, indicating an expectation of falling interest rates over the medium term.

Reactivation of Uphill and Waters Education Foundation

The council was asked to support the proposal to reactivate the Uphill and Waters Educational Foundation, a dormant trust fund established by Richard Uphill and Thomas Waters. The Foundation, historically used for educational purposes and financial assistance to young people, was deregistered in 2009 due to inactivity. Reactivating it would provide additional resources for disadvantaged young people in the borough, particularly those aged 16-25 with socio-economic disadvantages and Learning Difficulties and Disabilities (LDD), to support their entry into higher education and employment. The report proposed appointing Councillors Kangethe and Jones, alongside the Commissioning Director for Education, as Council-appointed Trustees. It also suggested inviting a Councillor from the London Borough of Redbridge and a local member of the clergy to serve as Trustees. The current value of the Foundation's assets was estimated at over £55,000, with further funds to be confirmed.

Pay Policy Statement 2024/25

The council was scheduled to approve its draft Pay Policy Statement for the 2024/25 financial year. This statement, a requirement under the Localism Act 2011, outlines the council's approach to the remuneration of its Chief Officers and other employees. It details salary levels, elements of remuneration, the relationship between chief officer pay and other staff, and policies on recruitment, performance-related pay, bonuses, and termination payments. The statement confirmed that the council's pay policy is based on fairness, equity, and the ability to recruit and retain staff, with pay levels determined through job evaluation systems. The report noted a reduction in the number of JNC officers and outlined the salary structure for Chief Officer posts, including a spot salary for the Chief Executive. The statement also confirmed that the council does not enhance pensionable service, except in specific ill-health retirement cases, and adheres to statutory redundancy pay calculations. Settlement agreements are subject to strict approval processes, and the pay ratio between the highest and lowest paid employees was reported as 1:8.1, with the Chief Executive's salary being 4.8 times the median salary.

Overview and Scrutiny Committee Annual Report 2022/23

The council was to receive the annual report from the Overview and Scrutiny Committee for the 2022/23 municipal year. This report detailed the committee's work, including reviews of the Early Help Improvement Progress Report, Fees and Charges 2022, Barking & Dagenham Trading Partnership: Repairs & Maintenance, Housing Regeneration, Economic Infrastructure, the Young People's Covenant & Employment for Young People with Special Educational Needs and Disabilities (SEND), Customer Services (Contact Centre), Controlled Parking Zone (CPZ) Project Update, Budget Strategy 2023/24 to 2026/27, Community Safety Partnership Plan 2023-26, Working with Faith Communities in Barking and Dagenham, OFSTED Inspection Readiness, a Pre-Scrutiny Briefing on the CQC Inspection, the Metropolitan Police Service Turnaround Plan 2023-25 and Baroness Casey Review Final Report, and a Pre-Scrutiny Briefing on the Development of the Corporate Plan 2023-27. The report highlighted the committee's role in providing constructive challenge, amplifying public concerns, and driving improvements in public services.