Agenda item

Cabinet, at its meeting on 16 February 2024, will consider the attached report of the head of finance on the the draft revenue budget 2024/25, and the capital programme to 2028/29.

Cabinet’s recommendations will be circulated to all members prior to the Council meeting.

Also attached is the chief finance officer’s report on the robustness of the budget estimates and the adequacy of the reserves.

The chair referred to regulations that require councils to record the names of those members voting in favour, against or abstaining from any vote on the budget, including amendments, and the council tax. In accordance with the regulations, she would call for a named vote on each of these matters at this meeting.

Council noted the report of the chief finance officer on the robustness of the budget estimates and the adequacy of the reserves.

Council considered Cabinet’s recommendations, made at its meeting held on 16 February 2024 on the revenue budget for 2024/25 and the capital programme to 2028/29.

Councillor Crawford, Cabinet member for finance, presented Cabinet’s proposals for the revenue budget and capital programme. He moved and Councillor Thomas seconded a motion to approve Cabinet’s recommendations as follows: to

1. set the revenue budget for 2024/25, as set out in appendix A.1 to the head of finance’s report to Cabinet on 16 February 2024;

2. approve the capital programme for 2024/25 to 2028/29, as set out in appendices D.1 and D.2 to the report, together with the capital programme changes as set out in appendix D.2 and appendices D.3 and D.4 to the report;

3. set the council’s prudential limits, as listed in appendix e to the report;

4. approve the medium-term financial plan to 2028/29, as set out in appendix F to the report.

In moving the Cabinet recommendations, Councillor Crawford, the Cabinet member for finance introduced the draft budget, noting that the council’s financial position had improved from that which was forecast in 2019. There were no service cuts in the budget. The budget contained significant additional spend on HR in order that the transformation project could be fully supported. The budget allocated funds to continue supporting the community hub. Council tax would increase by £5 per Band D property, the maximum allowed before a referendum was required.

A number of members welcomed the growth in staff numbers commenting on the importance of providing sufficient resources. Members were also pleased to see continued investment in community support namely Vale Community Impact and Citizen’s Advice Bureau. Members also welcomed positive future funding for The Beacon. Some members commented they wanted to see a commitment to decarbonisation in future as this had been made a clear priority in the corporate plan and should be funded.

In accordance with regulations requiring councils to record the names of those members voting in favour, against or abstaining from any vote on the budget the chair called for a recorded vote which was carried with the voting being as follows:

RESOLVED: (unanimously) to

1. set the revenue budget for 2024/25, as set out in appendix A.1 to the head of finance’s report to Cabinet on 16 February 2024;

2. approve the capital programme for 2024/25 to 2028/29, as set out in appendices D.1 and D.2 to the report, together with the capital programme changes as set out in appendix D.2 and appendices D.3 and D.4 to the report;

3. set the council’s prudential limits, as listed in appendix e to the report;

4. approve the medium-term financial plan to 2028/29, as set out in appendix F to the report.

Members thanked the head of finance and his team for the work undertaken to prepare the budget.