Decision details

RECOMMENDED TO COUNCIL

i)      That the level of Council Tax for 2024/25 increases from £166.94 by £3.34 (2%) to £170.28 at Band D.

ii)     That the net revenue budget set out in Appendix A for 2024/25 of £14.538m is approved.

iii)    That £0.6m of the £3.55m Funding Guarantee grant received in 2024/25 is used in Revenue to balance the budget, £0.55m to be used to fund up to £195 for working age and pension age claimants on Council Tax Support, with the remainder earmarked against potential overspend in 2024/25 and as a reserve to help resolve future budget deficits in the Medium-Term Financial Strategy.

iv)    That Special Expenses of £456,865 set out in Appendix C and a Band D charge of £37.21 are agreed in respect of the unparished area for 2024/25

v)     That the capital programme for 2024/25 set out in Appendix D be approved and that the indicative capital budgets in the programme for future years be noted.

vi)    That the projected future budgets on the revenue account in 2025/26 to 2029/30 are noted and the Medium-Term Financial Strategy continues to be reviewed and refined to ensure that decisions are taken in 2024 to set a balanced budget in 2025/26.

vii)  That the Minimum Revenue Provision Statement set out in Appendix E is approved.

viii)That the Capital Strategy, Treasury Strategy, Investment Strategy and prudential indicators and limits for 2024/25 to 2027/28 set out in Appendix F are approved.

ix)    To note the statement on the robustness of the level of reserves in Appendix G.

x)     That the increases to fees and charges set out in Appendices H to H (iii) are approved.

REASON

To meet the Council’s statutory requirement to approve the budget and the prudential indicators before the start of a new financial year.