Agenda item

The Report of the Head of Finance/Section 151 Officer.

Presented by the Corporate Portfolio Holder.

The Corporate Portfolio Holder presented the report, and highlighted the impact of inflationary pressures, which had been impossible to predict. It was noted that there would be a proposal not to increase council tax again next year which had been a huge achievement given the financial pressures faced. It was observed that the council tax freeze is something of which the administration was proud and was the longest of any council tax freeze ever, as confirmed by the House of Commons library.

The financial success attained by the provision of more new homes and more new jobs was highlighted and this was attributed as the reason behind not needing to raise additional funds by raising council tax.

It was moved by Councillor N Rushton, seconded by Councillor A Woodman and

RESOLVED THAT:

1. The 2023/24 Draft General Fund Revenue, Capital and Special Expenses Budget, the Medium Term Financial Plan (MTFP) for 2023/24 to 2027/28 and the budget proposals contained within the report and the proposed fees and charges for the 2023/24 for statutory consultation be proposed.
2. The statutory requirement to set a balanced budget for the special expenses accounts be acknowledged.
3. Direction on the balance between increasing council tax and reducing costs for the special expense accounts be provided
4. The Council’s key risks to the budget be noted.
5. Revised funding figures following the announcement of the provisional local government finance settlement be noted.
6. Comments from Corporate Scrutiny be noted.

Reason for decision: Required as part of the 2023/24 budget setting process.