Agenda item

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

The Lead Member for Financial Oversight & Council Assets summarised the revenue budget 2023/24 that was proposed to be recommended to full Council on 9^th March 2023.

The budget context, assumptions and key risks were summarised.  The Government had approved the Council’s request to raise Council Tax by a total of 9.99%, which was 5% more than the usual referendum threshold.  The additional income was important to increase the Council’s tax base and would have a significant impact on the savings plans.  A requirement of the proposed additional increase was that an enhanced Council Tax Reduction Scheme be put in place to protect the lowest income households and this scheme would be considered later in the meeting.

The two key parts of the Council’s financial strategy were delivering the proposed savings programme which totalled £22.4m in 2023/24 and continuing to dispose of assets.  The Lead Member explained the extensive and rigorous process to identify, test and agree each saving proposal.  It was emphasised that it was essential the savings programme was delivered and directorates would be expected to identify alternative savings during the year if those set out were not achieved.  Contingency against savings delivery had been made but non-delivery had to be avoided at all costs.  The pressures included high inflation and a provision had been made for pay settlement of 4.8% and 4.9% for contract inflation.  If the budget was successfully delivered the Council would already be on track to achieve almost half of the 2024/25 savings, with the remainder to be identified by May 2023.

The DLUHC Best Value Lead Commissioner addressed the Cabinet and highlighted the scale of the challenge the Council still faced.  He emphasised the importance of culture change in the organisation and that this was a whole council process whereby every officer must adhere to their budget limits.  The Commissioners had supported the Council Tax proposal, otherwise a higher savings target would have been required and there were no alternative proposals.  The Improvement & Recovery Board had spent considerable time validating every savings proposal.

The Leader commented that there had been some slippage in the current year’s savings programme, and although this had been offset by some corporate items to balance the budget overall, it was crucial that the Council improved its track record for savings delivery.  Further work with Slough Children First would also need to take place to address the company’s overspends.

At the conclusion of the discussion the Cabinet agreed to recommend the revenue budget to full Council.

Recommended –

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

Noted:

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.

Resolved –  That delegated authority be given to the Executive Director Finance & Commercial, in consultation with the Lead Member for Financial Oversight & Council Assets, to amend and finalise any of the budget reports prior to be submitted to full Council for approval on 9^th March 2023.