Decision - Revenue and Capital Budget 2024/2025

Revenue and Capital Budget 2024/2025

Decision Maker: Cabinet

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To approve the Council’s Revenue Budget and Capital Plan Budget for 2024/2025 including the setting of fees and charges for Council services and Capital Strategy.

There are currently a number of unknown elements in respect of Government’s financial settlement including the implications of the Autumn Budget expected in mid November 2023. Therefore, the Council will prepare its budget following the Government’s local government finance settlement announced in December 2023. The Cabinet will launch its draft budget for five weeks consultation at its Cabinet meeting on 9 January 2024, with the final recommendations being considered by Cabinet and Council in February 2024. As the budget proposals will be later for 2024/25 and not be submitted before 8 February 2024, Standing Orders F2.7 to 2.11 will not apply (whereby the Council provides any objections to the Cabinet to review before determining the budget).

Decision:

1. That the budget proposals for 2024/25 are launched for consultation running until midnight on 7 February 2024 and that the Overview and Scrutiny Board be asked to provide feedback as part of that consultation.

2. That the Chief Finance Officer be given authority to amend these budget proposals for any technical adjustments necessary between services and within the overall envelope of funding in agreement with the Leader of the Council; and

3. That the Chief Finance Officer report to the meeting of the Cabinet on 13 February 2024 on the implications for 2024/2025 as a result of these proposals currently being considered and the consultation results, in light of the final settlement which is expected by early February 2024.

Reasons for the decision:

To enable the consultation process on the proposed Revenue Budget and Capital Plan for 2024/2025 to begin.

Alternative options considered:

Alternative options were not considered.

Implementation:

This decision to publish the draft revenue budget and the savings proposals will come into force immediately, so as to commence the formal consultation process on the budget.

Information:

The Leader of the Council on behalf of the Cabinet has announced their provisional revenue and capital budget including proposals for service change, income generation and efficiencies for 2024/2025 (as available at Agenda for Cabinet on Tuesday, 9 January 2024, 5.30 pm (torbay.gov.uk)) to enable the consultation process to start. The proposals for investment in services, efficiencies and income generation and development of the budget will support the Council in delivering its ambitions as set out in the Community and Corporate Plan.

The Cabinet wishes to hear the views of all Members of the Council, the Overview and Scrutiny Board and external stakeholders together with specific service users on their proposals before finally recommending a budget to the Council in February 2024. Councillor Tyerman proposed and Councillor David Thomas seconded a motion, as set out above, which was agreed unanimously by the Cabinet.

Interests and Nature of Interests Declared:

None.

Publication date: 10/01/2024

Date of decision: 09/01/2024