Decision details

To recommend the revenue budget and medium term financial strategy to full Council.

Agreed to recommend to full Council the following:

1.  Approval of the 2023/24 budget to enable the Council Tax for 2023/24 to be set;

2.  Approval of the Model Council Tax Resolution 2023/24 as set out in Appendix B;

3.  Delegate authority to the Executive Director of Finance and Commercial, to place a notice in the local press of the amounts set under recommendation 2 within a period of 21 days following the Council's decision;

4.  Approve the Medium-Term Financial Strategy (MTFS) as based on the estimated financial deficit in the Capitalisation Direction and to be funded by capitalisation of:

a.  £267.1m up to 2022/23

b.  £31.6m for 2023/24

c.  £58.4m for beyond 2023/24

5.  Approve the overall General Fund revenue budget of £143.4m, to include:

a.  growth for pressures of £12.2m

b.  proposed savings by Directorates of £22.4m

6.  Approve measures to control spending and improve the finances of the Council at Appendix D

To note the following:

7.  The balanced budget position for 2023/24 requiring savings of £22.4m and the projected financial deficit between 2024/25 to 2027/28

8.  The intention to increase Council Tax by 7.99% in 2023/24

9.  The intention to increase Council Tax by a further 2% in 2023/24 in respect of the Adult Social Care Precept

10.The assumed funding for the protection of social care 2023/24 through the Better Care Fund

11.That due regard has been had to the s.25 report by the Executive Director of Finance and Commercial

12.The minutes from the 2023/24 Budget Scrutiny Sessions at Appendix H

13.Approve the process for access to contingency as set out in paragraphs 2.16.57 to 2.16.62