Agenda item

Draft Budget 2022/23 and Summary Position over the Medium Term

Report of the Director of Finance and S151 officer attached.

Decision:

Decision made

 

1.           That Cabinet agrees the contents of this report and notes the following proposed budget items, in particular:

·       A proposed 1.99% increase in council tax in 2022/23 with no proposed cuts to services

·       The forecast balanced budget for 2022/23 and the forecast budget position in 2023/24 and 2024/25

·       To note the proposals in the report for investment in the Administration’s priority areas

2.          That Cabinet supports and accepts the recommendations made by the Scrutiny Committee on 8 February 2022.

 

 

 

Minutes:

The Cabinet Member (Finance, Property and Assets) presented a report of the Director of Finance and Section 151 officer setting out the budget position for 2022/23 including the forecast for the following 2 years to 2024/25 and also to present the relevant proposals in respect of:

·       The use of forecast resources identified for 2022/23

·       Budget consultation

 

The Cabinet also considered the recommendations of the Scrutiny Committee on the Draft Budget 2022/23 at its meeting on 8 February 2022, which were:

 

The Scrutiny Committee:

 

1. thanks the Cabinet Member and Director for their detailed report and answering questions;

2. supports the Cabinet Member’s wish to consult earlier in future years;

3. asks that the report be updated to clarify that the Community Conversations were not aimed at supporting positive mental health in young people as confirmed at a previous meeting;

4. requests that the refurbishment of Margaret Road Playground planned for 2023/2024 be included in the report;

5. asks that a breakdown of the different funding streams for the £3.1M allocated for affordable housing be provided;

6. welcomes the offer of information on the Council’s role in promoting apprenticeships with businesses and acting as an exemplar be provided to all councillors.

 

The Leader of the Council thanked their supply and confidence partners, Councillor Howarth and the Liberal Democrat Group, for their collaborative working on the draft budget.

 

Councillor Bylinkski Gelder particularly highlighted the Sports and Community Funding and said that it was expected that this would be allocated around the borough in March/April. She encouraged Community Hubs to start considering how best the funding could be used.

 

Decision made

 

1.           That Cabinet agrees the contents of this report and notes the following proposed budget items, in particular:

·       A proposed 1.99% increase in council tax in 2022/23 with no proposed cuts to services

·       The forecast balanced budget for 2022/23 and the forecast budget position in 2023/24 and 2024/25

·       To note the proposals in the report for investment in the Administration’s priority areas

2.          That Cabinet supports and accepts the recommendations made by the Scrutiny Committee on 8 February 2022.

 

Reasons for decision

 

The Cabinet set out its budget proposals for 2022/23. The report detailed the Administration’s ambitious proposals to continue investment of both revenue and capital, to develop and deliver in their priority areas whilst maintaining a balanced budget over the medium term.

 

The budget forecast over the next three years has been updated as follows:

·       Last year, the council was able to freeze council tax. Unfortunately, due to the continued pressures on council expenditure budgets, combined with the reduction in Government funding provided to the council over the last 10 years, a council tax increase of 1.99% is proposed in 2022/23;

·       The figures include an assumption that council tax will increase by 1.99% in 2023/24 and 2024/25; this assumption will be revisited every year and will be dependent on the outcome of future Government funding announcements;

·       Continued investment is reflected in ongoing revenue budgets to ensure delivery of corporate strategy priorities;

·       Capital investments of over £47m are included in respect of corporate priority projects over the 3-year period;

·       The figures incorporate strategies to reduce the budget deficit over the medium term.

Consultation on the proposed budget for 2022/23 commenced on Tuesday 1 February 2022. The consultation will run for 10 days and will invite responses from residents, partners, parish groups and other stakeholders through a variety of methods including a short survey. The feedback will be used to frame the allocation of resources and investments, and the results will be analysed and published for consideration as part of the Council’s final budget.

 

Alternative options considered and rejected

 

None, this is the draft budget and alternative budgets may be considered as part of the final budget proposal.

 

 

 

 

Supporting documents: