Issue - meetings

Report of Councillor P Kerry, Deputy Leader of the Council and Portfolio Holder for Strategic Leadership and Finance

The decision requested is part of the Budget and Policy Framework and thus can only be made by Council.

The report to Council sought approval for the current budget for 2024/25 and original budget for 2025/26 for the General Fund, Housing Revenue Account and Capital Programme as part of the Council’s Medium Term Financial Plan covering the years 2024/25 to 2028/29.

Members were informed that Cabinet had considered and endorsed the proposals at its meeting on 23 January 2025 following on from scrutiny at the Joint Scrutiny Committee on 16 January 2025.  The recommendations were now referred to Council for consideration and approval.

Councillor P Kerry, Deputy Leader of the Council, provided a background to the budget setting and noted that that it had been a challenging budget setting cycle. 

Councillor P Kerry moved a Motion that Council approve recommendations 1 to 12 in the report. Councillor N Barker spoke and seconded the Motion.

Councillor N Baker proposed an amendment, to amend the increase to Council Tax in recommendation 3 from 2.99% to 1.99%.  He stated that restraint should be used and that it was reasonable to not exceed the Bank of England inflation target of 2%. Councillor A Dale spoke to and seconded the amendment.

Councillor D Hancock, J Stokes, S Reed, H Wetherall, M Durrant and F Adlington-Stringer spoke regarding the budget proposal and amendment.

The amendment was put to the vote.  As required by law this was taken as a recorded vote.  The amendment failed.

For: 17

Councillors P Antcliff, N Baker, S Clough, C Cupit, A Dale, P Elliott, M Emmens, M Foster, P Jones, W Jones, S Reed, C Renwick, R Spooner, J Stokes, K Tait, R Welton, P Windley

Against: 32

Councillors F Adlington-Stringer, N Barker, J Barry, G Baxter, R Beech, J Birkin, D Cheetham, K Clegg, S Cornwell, M Durrant, C Fletcher, C Gare, K Gillott, D Hancock, L Harthorne, D Higgon, P Kerry, C Lacey, T Lacey, H Liggett, F Petersen, S Pickering, M Roe, K Rouse, R Shipman, D Skinner, Caroline Smith, Christine Smith, M Smith, L Stone, H Wetherall.

The Original Motion was put to the vote.  As required by law this was taken as a recorded vote.  The Motion was approved.

For: 33

Councillors F Adlington-Stringer, N Barker, J Barry, G Baxter, R Beech, J Birkin, D Cheetham, K Clegg, A Cooper, S Cornwell, M Durrant, C Fletcher, C Gare, K Gillott, D Hancock, L Harthorne, D Higgon, P Kerry, C Lacey, T Lacey, H Liggett, F Petersen, S Pickering, M Roe, K Rouse, D Skinner, Caroline Smith, Christine Smith, M Smith, L Stone, R Welton, H Wetherall, P Windley.

Against: 14

Councillors P Antcliff, N Baker, S Clough, C Cupit, A Dale, P Elliott, M Emmens, M Foster, P Jones, W Jones, C Renwick, R Spooner, J Stokes, K Tait.

Abstention: 1

Councillor S Reed

RESOLVED – That:

(1)         that the view of the Director of Finance & Resources; that the estimates included in the Medium-Term Financial Plan 2024/25 to 2028/29 are robust and that the level of financial reserves are adequate at this time; be accepted.  ...  view the full minutes text for item 79

Report of Councillor P Kerry, Deputy Leader of the Council and Portfolio Holder for Strategic Leadership and Finance.

RESOLVED – That the following recommendations are made to Council on 27 January 2025:

(1)   That the view of the Director of Finance Resources, that the estimates included in the Medium-Term Financial Plan 2024/25 to 2028/29 are robust and that the level of financial reserves are adequate at this time, be accepted.

(2)   That officers report back to Cabinet and the Services Scrutiny Committee on a

quarterly basis regarding the overall position in respect of the Council’s budgets.

General Fund

(3)   A Council Tax increase of £6.29 will be levied in respect of a notional Band D

 property (2.99%).

(4)   The Medium-Term Financial Plan in respect of the General Fund as set out in Appendix 1 of this report be approved as the Current Budget 2024/25, as the Original Budget 2025/26, and as the financial projections in respect of 2026/27 to 2028/29.

(5)   That the shortfall in the General Fund budget for 2025/26 as set out in Appendix 1 be met from reserves at this time.

(6)   That the General Fund Capital Programme as set out in Appendix 4 be approved as the Current Budget in respect of 2024/25, and as the Approved Programme for 2025/26 to 2028/29.

(7)   That any under spend in respect of 2024/25 be transferred to the Resilience

Reserve to provide increased financial resilience for future years of the plan.

Housing Revenue Account (HRA)

(8)   That Council sets its rent levels for 2025/26 in consideration of the Social Housing Rent Standard increasing rents by 2.7% from 1st April 2025.

(9)   The Medium-Term Financial Plan in respect of the Housing Revenue Account as set out in Appendix 3 of this report be approved as the Current Budget in respect of 2024/25, as the Original Budget in respect of 2025/26, and the financial projection in respect of 2026/27 to 2028/29.

(10)That the HRA Capital Programme as set out in Appendix 4 be approved as the Current Budget in respect of 2024/25, and as the Approved Programme for 2025/26 to 2028/29.

(11)That the Management Fee for undertaking housing services at £12.81m and the Management Fee for undertaking capital works at £1.1m to Rykneld Homes in respect of 2025/26 be approved.

(12)That Members note the requirement to provide Rykneld Homes with a ‘letter of comfort’ to the company’s auditors and grant delegated authority to the Council’s Director of Finance & Resources (S151 Officer) in consultation with the Deputy Leader of the Council to agree the contents of that letter.

REASONS FOR DECISION – . Cabinet sought to recommend budgets to Council in respect of the General Fund, the Housing Revenue Account, and the Capital Programme.

OTHER OPTIONS CONSIDERED AND REJECTED – The Council is required to set a budget each year. There are no alternative options being considered at this time.

Please note that this was not a Key Decision and so can be implemented with immediate effect by officers.

Cabinet considered a report seeking approval of the Current Budget for 2024/25 and Original Budget for 2025/26 for the General Fund, Housing Revenue Account and Capital Programme as part of the Council’s Medium Term Financial Plan covering the years 2024/25 to 2028/29.  The report made a number of recommendations proposing to be taken by Council on 27 January 2025. 

RESOLVED – That the following recommendations are made to Council on 27 January 2025:

(1)          That the view of the Director of Finance Resources, that the estimates included in the Medium-Term Financial Plan 2024/25 to 2028/29 are robust and that the level of financial reserves are adequate at this time, be accepted.

(2)          That officers report back to Cabinet and the Services Scrutiny Committee on a

quarterly basis regarding the overall position in respect of the Council’s budgets.

General Fund

(3)          A Council Tax increase of £6.29 will be levied in respect of a notional Band D property (2.99%).

(4)          The Medium-Term Financial Plan in respect of the General Fund as set out in Appendix 1 of this report be approved as the Current Budget 2024/25, as the Original Budget 2025/26, and as the financial projections in respect of 2026/27 to 2028/29.

(5)          That the shortfall in the General Fund budget for 2025/26 as set out in Appendix 1 be met from reserves at this time.

(6)          That the General Fund Capital Programme as set out in Appendix 4 be approved as the Current Budget in respect of 2024/25, and as the Approved Programme for 2025/26 to 2028/29.

(7)          That any under spend in respect of 2024/25 be transferred to the Resilience Reserve to provide increased financial resilience for future years of the plan.

Housing Revenue Account (HRA)

(8)          That Council sets its rent levels for 2025/26 in consideration of the Social Housing Rent Standard increasing rents by 2.7% from 1st April 2025.

(9)          The Medium-Term Financial Plan in respect of the Housing Revenue Account as set out in Appendix 3 of this report be approved as the Current Budget in respect of 2024/25, as the Original Budget in respect of 2025/26, and the financial projection in respect of 2026/27 to 2028/29.

(10)       That the HRA Capital Programme as set out in Appendix 4 be approved as the Current Budget in respect of 2024/25, and as the Approved Programme for 2025/26 to 2028/29.

(11)       That the Management Fee for undertaking housing services at £12.81m and the Management Fee for undertaking capital works at £1.1m to Rykneld Homes in respect of 2025/26 be approved.

(12)       That Members note the requirement to provide Rykneld Homes with a ‘letter of comfort’ to the company’s auditors and grant delegated authority to the Council’s Director of Finance & Resources (S151 Officer) in consultation with the Deputy Leader of the Council to agree the contents of that letter.

REASONS FOR DECISION – . Cabinet sought to recommend budgets to Council in respect of the General Fund, the Housing Revenue Account, and the Capital Programme.

OTHER OPTIONS CONSIDERED AND  ...  view the full minutes text for item 59