That Cabinet recommends to Council:

Revenue Budget:

1.         That for 2023/24 net revenue expenditure of £131.0mresulting in a Council Tax requirement of £82.7m for 2023/24 (a 4.99% increase in Council Tax, of which 2% is for Adult Social Care) be approved;

2.         That the proposed Fees and Charges for 2023/24 be approved;

3.         That, in accordance with the requirement of the Local Government Act 2003, the advice given by the Chief Finance Officer with respect to the robustness of the budget estimates and the adequacy of the Council’s reserves (as set out in the report) be noted;

4.         That it be noted that the Brixham Town Council precept for 2023/24 of £394,372 will be included as part of the Torbay Council budget for Council Tax setting purposes; and

5.         That the Chief Executive, in consultation with the Director of Children’s Services, Chief Finance Officer, Cabinet Member for Children’s Services and Cabinet Member for Finance, be authorised to approve the “safety value” agreement in relation to the Higher Needs Block deficit, subject to an offer of an agreement being made by the Department for Education.

Review of Reserves:

1.            That, in support of the 2023/24 budget setting process, the Council’s reserves position be noted.

Capital Strategy:

1.         That the Capital Strategy 2023/24 be approved.

Capital Plan:

1.            That the Capital Plan for 2023/24 as set out in Appendix 1 to the submitted report be approved; and

2.         That the Chief Finance Officer, in consultation with the Director of Adult and Community Services, the Cabinet Member for Finance and the Cabinet Member for Economic Regeneration, Tourism and Housing, be authorised to approve the business cases for the use of the Community Affordable Housing loan allocations.

(i)            That all Members and the Overview and Scrutiny Board consider the draft revenue and capital budgets and implications of the draft proposals for investment in services, efficiencies and income generation. The Overview and Scrutiny Board (through its Priorities and Resources Review Panel) will consider certain specific issues arising from these savings proposals and publish its recommendations by 9 February 2023 on the outcomes of its deliberations and stakeholder representations for the Cabinet to consider;

(ii)          The draft proposals for investment in services, efficiencies and income generation are based upon the provisional Local Government Finance settlement as announced by central government on 19 December 2022;

(iii)         That public consultation be undertaken on the proposals. (The results from this consultation will be considered by the Cabinet with the Cabinet’s final proposals being published on 23 February 2023.);

(iv)         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

(v)          That the Chief Finance Officer report to the meeting of the Cabinet on 23 January 2023 on the implications for 2023/2024 as a result of these proposals currently being considered and in light of the final settlement which is expected by early February 2023.