Agenda item

That Cabinet agreed to recommend to Council that it:

1.  Notes the section 25 Report of the Executive Director of Finance and Commercial at Appendix A that confirms in particular the robustness of the estimates and the adequacy of the proposed financial reserves.

2.  Approve the 2024/25 budget on the basis of an increase in the general element of Council Tax of 7.99% and an increase in the Adult Social Care Precept element of 0.51%.

3.  Approves the Council Tax Resolution 2024/25 as set out in Appendix B on the basis that it is not excessive in accordance with the principles approved under section 52ZB and 52ZC of the Local Government Finance Act 1992 and as permitted by the proposed The Referendums Relating to Council Tax Increases (Principles) (England) Report 2024/25.

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

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

a. £23.078m for 2024/25

b. NOTE that the remaining years of the MTFS imply an estimated financial deficit totalling £27.460m, approval of which will be subject to annual approval to DLUHC

6.  Approve the overall General Fund revenue budget for 2024/25, as set out in Appendix D1 of £162.1m to include:

a. Growth for pressures of £13.855m

b. Inflationary pressures of £4.472m including pay and contract inflation

c. Proposed savings by Directorates of £12.206m in 2024/25, with further savings of £6.836m in 2025/26 and £1.796m in 2026/27

7.  Approve measures to control spending and improve the finances of the Council at Appendix F.

8.  Note the impact of a change in legislation to implement a 100% premium on Council Tax for properties left unoccupied for 1 year as opposed to 2 years as set out in Appendix G1, such change to take effect on 1 April 2024.

9.  Determine that Council Tax will be increased for furnished properties periodically occupied from 1 April 2025 in accordance with the Scheme for Properties Occupied Periodically at Appendix G2 and s.11C of the Local Government Finance Act 1992.

10.Agree that the Council Tax Support Scheme approved on March 9th 2023 should remain in place, with the exception of minor amendments for clarification purposes as set out in Appendix B1.

11.Delegates to Cabinet the authority to approve an increase in funding for the new Transformation project on receipt of a report and robust Business Plan.

The following was agreed by Cabinet:

1.  The write-off of individual debts over £15,000, with a total value of £646,000, as set out in Appendix H.

2.  Approve the proposed fees and charges for 2024/25 as set out in Appendix J (where these relate to executive functions);

3.  Approve the Contract Sum for Slough Children First Limited for 2024/25 as £39,044,000

The Leader of the Council introduced a report on the General Fund Revenue Budget 2024/25 and the Medium Term Financial Strategy 2024/25 to 2027/28.  The Cabinet was being asked to recommend approval of the budget to full Council on 7^th March 2024.

The key aspects of the budget were summarised, including the main changes from the draft budget that had been approved by Cabinet in December 2023.  The revenue budget for next year was £162.1m, which included growth for pressures of £13.855m; inflationary pressures of £4.472m; proposed savings by directorates of £12.206m next year with a further £6.836m and £1.796 in the following two years.

It was recognised that the Council remained in a very challenging financial position.  The Leader highlighted that the report contained a Medium Term Financial Strategy for the first time in several years and this was the right starting point from which to make plans to move towards financial sustainability.  It was recognised that the budget could not be balanced without exceptional financial support which would be £23.078m for 2024/25.  In relation to Council Tax, the Leader explained the reasons for the change from the proposed increase of 4.99% set out in December’s draft budget to the 8.5% (7.99% Council Tax and 0.51% adult social care precept) that was now recommended.  It was noted that the proposed increase was below the full permitted level of 9.99%.

The Executive Director Finance & Commercial drew Members attention to the Section 25 report in Appendix 1 that set out her view on the robustness of the estimates made for the purposes of budget calculations and adequacy of reserves which Members should carefully consider before taking budget decisions.

The Leader thanked the Lead Member for finance, Commissioners, the Executive Director Finance & Commercial and her finance team and other officers across the Council who had contributed to the development of the proposals for their work in being able to present the budget to Cabinet and Council.  Lead Members discussed various aspects of the budget relevant to their portfolios including the commencement of a food waste collection trial, initially for 5,000 households before roll-out across the town; £8m increase in the adult social care budget; investment in customer services; a new lease for Slough Town Football Club; and £1.4m for temporary accommodation.

The Cabinet considered and noted the comments and recommendations of the Corporate Improvement Scrutiny Committee that were set out in section 8 of the report.

At the conclusion of the discussion it was agreed to recommend the revenue budget to full Council on 7^th March 2024, subject to any minor textual amendments.

Recommended –

That Cabinet recommend to Council that it:

1.  Note the section 25 Report of the Executive Director of Finance and Commercial at Appendix A that confirms in particular the robustness of the estimates and the adequacy of the proposed financial reserves.

2.  Approve the 2024/25 budget on the basis of an increase in the general element of Council Tax of 7.99% and an increase in the Adult Social Care Precept element of 0.51%.

3.  Approve the Council Tax Resolution 2024/25 as set out in Appendix B on the basis that it is not excessive in accordance with the principles approved under section 52ZB and 52ZC of the Local Government Finance Act 1992 and as permitted by the proposed The Referendums Relating to Council Tax Increases (Principles) (England) Report 2024/25.

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

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

a. £23.078m for 2024/25

b. NOTE that the remaining years of the MTFS imply an estimated financial deficit totalling £27.460m, approval of which will be subject to annual approval to DLUHC

6.  Approve the overall General Fund revenue budget for 2024/25, as set out in Appendix D1 of £162.1m to include:

a. Growth for pressures of £13.855m

b. Inflationary pressures of £4.472m including pay and contract inflation

c. Proposed savings by Directorates of £12.206m in 2024/25, with further savings of £6.836m in 2025/26 and £1.796m in 2026/27

7.  Approve measures to control spending and improve the finances of the Council at Appendix F.

8.  Note the impact of a change in legislation to implement a 100% premium on Council Tax for properties left unoccupied for 1 year as opposed to 2 years as set out in Appendix G1, such change to take effect on 1 April 2024.

9.  Determine that Council Tax will be increased for furnished properties periodically occupied from 1 April 2025 in accordance with the Scheme for Properties Occupied Periodically at Appendix G2 and s.11C of the Local Government Finance Act 1992.

10.Agree that the Council Tax Support Scheme approved on March 9th 2023 should remain in place, with the exception of minor amendments for clarification purposes as set out in Appendix B1.

11.Delegates to Cabinet the authority to approve an increase in funding for the new Transformation project on receipt of a report and robust Business Plan.

Resolved –

1.  That the write-off of individual debts over £15,000, with a total value of £646,000, as set out in Appendix H, be approved.

2.  That the proposed fees and charges for 2024/25 as set out in Appendix J (where these relate to executive functions) be approved;

3.  That the Contract Sum for Slough Children First Limited for 2024/25 be approved as £39,044,000.