Decision details

The Cabinet considered its proposed 2023/24 Revenue Budget outlining the Council’s financial outlook and challenges across the medium term period 2023/24 to 2025/26 and recommended to the Council Meeting that it:-

(1) Approve the Budget for 2023/24 described in the report and set out in Appendix 2 and 3;

(2) Note the risk assessment of the 2023/24 Budget at Appendix 5 and the report of the Deputy Chief Executive and Section 151 Officer on the adequacy of proposed financial reserves and robustness of the estimates also included at Appendix 5;

(3) Approve the required Council General Fund Balance to reflect the Deputy Chief Executive and Section 151 Officer’s assessment of risks;

(4) Note, comment upon and approve the financial forecasts and assumptions for 2023/24 to 2025/26 at Appendix 6, and the key issues to be addressed in formulating a response to the future financial challenges facing the Council;

(5) Approve the one-off positive investments funded by the available one-off resources; and

(6) Pass the appropriate Council Tax resolutions which produce a Council Tax increase of 3.99% in 2023/24 (1.99% General increase, 2% Adult Social Care Precept increase) as illustrated in Appendix 7.

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