The Harrow Business Consultative Panel was scheduled to discuss the council's draft revenue budget for the upcoming financial year and the medium-term financial strategy. The meeting's agenda also included provisions for public questions and a review of the council's financial position.

Draft Revenue Budget and Medium Term Financial Strategy

A significant portion of the meeting was dedicated to reviewing the draft revenue budget for 2024/25 and the draft Medium Term Financial Strategy (MTFS) to 2026/27. This report, prepared by the Interim Director of Finance and Assurance, Sharon Daniels, outlines the council's financial plans and projected budget gaps.

The report highlights that Harrow Council faces a challenging financial position, with a projected budget gap of £0m for 2024/25, £12.466m for 2025/26, and £6.732m for 2026/27. To address these gaps, the council is proposing a core Council Tax increase of 2.99% for each of the three years, along with a 2% increase for the Adult Social Care Precept in 2024/25.

Key elements of the draft budget and MTFS include:

• Council Tax Increases: The proposed increases aim to generate necessary revenue, with the council relying heavily on Council Tax, which funded approximately 78% of the net revenue budget in 2023/24.
• Budget Gaps: The report details the estimated budget gaps for the coming years, driven by factors such as inflation, demand-led pressures, and reductions in government funding.
• Autumn Statement 2023: The report references announcements from the Chancellor of the Exchequer, Jeremy Hunt, regarding local government funding, housing, business rates, and pensions.
• Directorate Pressures and Savings: The document outlines proposed savings and growth across various directorates, with significant growth anticipated in Adult Social Care, accounting for £9.8m of the net growth over the MTFS period.
• Public Health Funding: The draft Public Health budget for 2024/25 is presented, based on an indicative grant allocation of £12.165m.
• Schools Funding: The report confirms the continued use of the National Funding Formula for distributing school budgets for 2024/25, with no proposed changes to the formula's structure.
• Better Care Fund: The framework for the Better Care Fund is discussed, which aims to support integrated health and care services.
• Reserves and Contingencies: The council's reserves and contingencies are reviewed in the context of financial risks and the need to manage unforeseen events.
• London Boroughs Grant Scheme: The council's contribution to this scheme is noted, with authorisation sought for the Interim Director of Finance and Assurance to agree the 2024/25 contribution.

The report also details the consultation process for the draft budget, which was scheduled to commence on 20 December 2023 and last for five weeks.

Public Questions

The agenda included a slot for public questions, with a deadline for submission set for 3:00 pm on Thursday, 18 January 2024. A time limit of 15 minutes was allocated for the asking and answering of these questions.

Other Agenda Items

The meeting was also scheduled to address the attendance of reserve members, the appointment of a Vice-Chair for the panel, and the receipt of any petitions or deputations. The minutes from the previous meeting held on 23 January 2023 were also to be reviewed.