Decision details

To consider the Budget 2025/2025 and Medium Term Financial Strategy (MTFS)

Resolved

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

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

(3)          That Council be recommended to approve the proposed Fees and Charges schedule for 2025/26 (Appendix 7 to the report) and statutory notices be placed where required.

(4)          That Council be recommended to consider and note the Equality Impact Assessments of the Budget (Appendix 8 to the report).

(5)          That Council be recommended to approve the Corporate Plan (Appendix 1 to the report) and to note the Internal Perspectives (Appendix 2 to report).

(6)          That,  in relation to the Revenue Budget Strategy (Section 4.2 of the report) and Medium-Term Financial Strategy (MTFS) (section 4.5 of the report), Council be recommended to approve:

                      i.        The net revenue budget for the financial year commencing on 1 April 2025, as set out in Table 4.2.1 of the report, and further analysed in the Budget Book (Appendix 12 to the report).

                    ii.        The MTFS and Revenue Budget 2025/26 (Sections 4.5 and 4.2 respectively), including the Savings Proposals and Investments included at Appendices 4 and 5 of the report respectively.

(7)          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 2025 of £5, resulting in a Band D charge of £158.50 per annum.

                    ii.        That for long term empty properties, from 1 April 2025 an additional council tax premium will be charged of 100 per cent for properties empty for one year or more, replacing the current 100 per cent premium that begins after 2 years of a property being empty.  All other empty property premiums will remain.

(8)          That, in relation to the Capital Programme and related strategies (Section 4.3 of the report), Council be recommended to approve:

                    i.          The Capital Bid(s) and Capital Programme at Appendices 17 and 18 to the report respectively.

                   ii.          The Capital and Investment Strategy 2025/26 (Appendix 19 of the report), including the Minimum Revenue Provision (MRP) Policy.

                 iii.          The Treasury Management Strategy, including the Prudential Indicators, and Affordable Borrowing Limit for 2025/26 (Appendix 21 of the report).

(9)          That, in relation to reserves (section 4.4 of the report), Council be recommended to approve:

                    i.          A minimum level of General Balances of £7.8m as supported by Appendix 15 to the report.

                   ii.          The Reserves Policy (Appendix 14 to the report).

                 iii.          The medium-term reserves plan described in Appendix 16 to the report.

(10)       That Council be recommended to approve The Pay Policy Statement, as required by the Localism Act 2010, detailed in Appendix 9 to the report.