Decision - Revenue and Capital Budget 2025/2026

Revenue and Capital Budget 2025/2026

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To approve the Council’s Revenue Budget and Capital Plan Budget for 2025/2026 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 end October 2024 and the Government’s local government finance settlement due to be announced in December 2024. The Cabinet will launch its draft budget for six weeks consultation at its Cabinet meeting on 26 November 2024, with the final recommendations being considered by Cabinet and Council in February 2025. As the budget proposals will not be submitted before 8 February 2025, 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 2025/26 are launched for consultation running until midnight on 12 January 2025 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;

3. should the Local Government Finance Settlement due to be announced in December 2024 materially affect the proposed budget proposals, the Director of Finance be requested to present an update report to the Overview and Scrutiny Board and Cabinet in January 2025; and

4. that the Chief Finance Officer report to the meeting of the Cabinet on 18 February 2025 on the implications for 2025/2026 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 2025.

Reasons for the decision:

To enable the consultation process on the proposed Revenue Budget and Capital Plan for 2025/2026 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 Cabinet has announced their provisional revenue and capital budget including proposals for service change, income generation and efficiencies for 2025/2026 (as available at Agenda for Cabinet on Tuesday, 26 November 2024, 5.30 pm) 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 2025. 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: 27/11/2024

Date of decision: 26/11/2024