Decision details

This report is the culmination of the Budget and Business Planning process for 2023/24 to 2027/28 and sets out the Executive’s proposed Business Plan and related revenue budget for 2023/24, medium term financial strategy to 2027/28, capital programme to 2027/28 and all supporting policies, strategies and information

Resolved

(1)           That authority be delegated to the Section 151 Officer (S151), following consultation with the Leader of the Council and Portfolio Holder for Finance, to complete the legal Council Tax calculations once all the information required has been received and submit a separate report to Council.

(2)           That authority be delegated to the S151, following consultation with the Leader of the Council and Portfolio Holder for Finance, to make appropriate changes to the Executive’s proposed budget to Council.

(3)           That Council be recommended to approve the proposed Fees and Charges schedule for 2023/24 and agree that statutory notices be placed where required.

(4)           That Council be recommended to consider and note the Equality Impact Assessment of the Budget.

(5)           That Council be recommended to approve a pension fund prepayment for the years 2023/24 – 2025/26 of £5.7m.

(6)           That, in relation to the Business Plan, Council be recommended to approve the Business Plan and Annual Delivery Plan.

(7)           That, in relation to the Revenue Budget and Medium Term Financial Strategy (MTFS), Council be recommended to approve:

                        i.         The net revenue budget for the financial year commencing on 1 April 2023, as set out in the table below and further analysed in the Budget Book.

                       ii.         The MTFS and Revenue Budget 2023/24, including the Savings Proposals, and Pressures.

(8)           That, in relation to Council Tax, Council be recommended to approve:

                        i.         An increase in the Basic Amount of Council Tax for Cherwell District Council for the financial year beginning on 1 April 2023 of £5, resulting in a Band D charge of £148.50 per annum.

                       ii.         For long term empty properties, an additional Council Tax premium will be charged of 100 percent for properties empty for two years or more, 200 percent for properties empty 5 years or more and 300 percent for properties empty 10 years or more.

                     iii.         Removal of the 25 percent discount currently available for 12 months to properties that are uninhabitable or undergoing structural repairs.

(9)           That, in relation to the Capital Programme and related strategies, Council be recommended to approve:

                        i.         The Capital Bids and Capital Programme.

                       ii.         The Capital and Investment Strategy 2023/24 and revised 2022/23 including the Minimum Revenue Provision (MRP) Policy.

                      iii.         The Treasury Management Strategy, including the Prudential Indicators, and Affordable Borrowing Limit for 2023/24.

(10)        That, in relation to reserves, Council be recommended to approve:

                        i.         A minimum level of General Balances of £6m.

                       ii.         The Reserves Policy.

                      iii.         The medium-term reserves plan.

(11)        That, in relation to the Pay Policy Statement, Council be recommended to approve the Pay Policy Statement, as required by the Localism Act 2010.