Issue - meetings

Report of the Assistant Director of Finance (S151)

Purpose of report

To consider and approve the Budget Setting for 2024/25 and MTFS 2028/29 as per the recommendations.

Recommendations

The Council resolves to:

1.1          Have regard to the statutory report of the Chief Finance Officer (Section 25 report) at Appendix 3 in approving recommendations 1.2 – 1.9.

1.2          Approve the proposed Fees and Charges schedule for 2024/25 (Appendix 7) and statutory notices be placed where required.

1.3          Consider and note the Equality Impact Assessments of the Budget (Appendix 8 and 8b)

1.4          In relation to the Business Plan (Section 4.1) to approve:

1.4.1           The Business Plan set out in Appendix 1.

1.5          In relation to the Revenue Budget Strategy (Section 4.3) and Medium-Term Financial Strategy (MTFS) (Section 4.6) to approve:

1.5.1                   The net revenue budget for the financial year commencing on 1 April 2024, as set out in Table 4.3.1, and further analysed in the Budget Book provided at Appendix 12.

1.5.2                   The MTFS and Revenue Budget 2024/25 (Sections 4.3 and 4.6 respectively), including the Savings Proposals and Pressures included at Appendices 4 and 5 respectively.

1.6          In relation to Council Tax to approve:

1.6.1                   An increase in the Basic Amount of Council Tax for Cherwell District Council for the financial year beginning on 1 April 2024 of £5, resulting in a Band D charge of £153.50 per annum.

1.7          In relation to the Capital Programme and related strategies (Section 4.4) to approve:

1.7.1                   The Capital Bids and Capital Programme at Appendix 17 and 18 respectively.

1.7.2                   The Capital and Investment Strategy 2024/25 (Appendix 19), including the Minimum Revenue Provision (MRP) Policy, and the revised 2023/24 MRP Policy (Appendix 20).

1.7.3                   The Treasury Management Strategy, including the Prudential Indicators, and Affordable Borrowing Limit for 2024/25 (Appendix 21).

1.8          In relation to reserves (Section 4.5) to approve:

1.8.1                   A minimum level of General Balances of £6.1m as supported by Appendix 15.

1.8.2                   The Reserves Policy (Appendix 14).

1.8.3                   The medium-term reserves plan described in Appendix 16.

1.9          In relation to the Pay Policy Statement approve:

1.9.1                   The Pay Policy Statement, as required by the Localism Act 2010, detailed in Appendix 9.

Resolved

(1)          That, having due regard, the statutory report of the Chief Finance Officer and the comments of the Chief Finance Officer in respect of the proposed amendments, be noted.

(2)          That, subject to the following amendments with authority delegated to the Section 151 Officer to update the budget papers to reflect the amendments, the proposed Fees and Charges schedule for 2024/25 be approved and it be noted that statutory notices would be placed where required.

·       That the 2024/25 increase in bulky waste charges be removed and the 2023/24 levels be retained and a new premium charge for faster service be introduced

·       That the charge for replacement bins be removed

·       That the 2024/25 increase in the NOA, Cooper School and Stratfield Brake fees and charges be removed and the fees be retained at 2023/24 levels at a cost of £0.012m.

(3)          That, having given due consideration, the Equality Impact Assessments of the Budget be noted.

(4)          That the Business Plan (annex to the Minutes as set out in the Minute Book) be approved.

(5)          That the net revenue budget, for the financial year commencing on 1 April 2024, as set out below incorporating budget movements to fund the amendments to the budget, with authority delegated to the Section 151 Officer to amend other tables within the budget accordingly, be approved:

(6)          That, subject to the following amendments with authority delegated to the Section 151 Officer to update the budget papers to reflect the amendments, the Medium Term Financial Strategy and Revenue Budget 2024/25 including the Savings Proposals and Pressures be approved.

·         That savings proposal reference SWAST243 (£0.075m) be removed to reflect resolution (2) to not introduce a charge for replacement bins.

·         That savings proposal SWAST241 be amended by introducing alternative charges for bulky waste (as set out in resolution (2)) in 2024/25 and it be noted this has a net nil impact on the budget and MTFS.

·         That savings proposal SPCON242 be reduced by £0.022m in 2024/25 in order to keep Pioneer Square public conveniences open.

·         That a new pressure of £0.020m for an additional cleaning contract for the public conveniences at Pioneer Square be agreed.

·         That the general contingency budget be reduced by £0.129m to fund the agreed amendments to the proposed budget. 

(7)          That an increase in the Basic Amount of Council Tax for Cherwell District Council for the financial year beginning on 1 April 2024 of  ...  view the full decision text for item 65

Prior to consideration of the item, the Chairman advised that the Progressive Oxfordshire Group has proposed an amendment to the budget which had been published as a supplement to the agenda. There were no amendments proposed by the Labour Group or Independent Group.

The Chairman explained that once the budget had been proposed and seconded, the Leader of the Progressive Oxfordshire Group, Councillor Hingley, would respond to the budget and propose the Group’s amendment. Once seconded, the amendment would be debated and voted on.

The Chairman reminded Members that the arrangements for debating the budget were set out in the meeting procedure rules. The proposer, when presenting the budget, and Group Leaders, when responding to the budget, may speak for up to 10 minutes. All other speakers had a three minute time limit. 

The Chairman further reminded Members that it was required in legislation that the vote on any motion on or amendment to the budget and council tax setting reports must be a recorded vote. This would be taken at the appropriate time.

The Assistant Director of Finance (S151) submitted a report to consider and approve the Budget Setting for 2024/25 and Medium Term Financial Strategy (MTFS) 2028/29 as per the recommendations.

The Portfolio Holder for Finance, Councillor Nell, paid tribute to the Assistant Director of Finance and the finance team who had worked hard on the budget process and submitted a balanced budget to Council against a difficult financial backdrop. Councillor Nell also thanked the Budget Planning Committee and Accounts, Audit and Risk Committee for their hard work supporting the budget setting and business plan process.

Having presented the report, Councillor Nell proposed the adoption of the Business Plan and related revenue budget for 2024/25, medium term financial strategy to 2028/29, capital programme and all supporting policies, strategies and information. Councillor Wood seconded the proposal.

Councillor Hingley, Leader of the Progressive Oxfordshire Group, addressed Council in response to the budget and proposed the Group’s amendment to the budget. Councillor Middleton seconded the amendment.

The amendment having been proposed and seconded was debated by Council. As required in legislation, a recorded vote on the motion was taken. Members voted as follows:

(Please note Appendix 3 is not used in this report)

Report of the Assistant Director of Finance (S151)

Purpose of report

To consider and approve the Budget Setting for 2024/25 and MTFS 2089/29 as per the recommendations.

Executive Summary

This report is the culmination of the Budget and Business Planning process for 2024/25 to 2028/29 and sets out the Executive’s proposed Business Plan, Annual Delivery Plan and related revenue budget for 2024/25, medium term financial strategy to 2028/29, capital programme to 2028/29 and all supporting policies, strategies, and information to recommend to Council.

The Council adopts a forward looking and anticipatory approach to its financial management, with the Peer Review acknowledging the Council is in a “strong position” regards its 2024/25 budget in the September 2023 Progress Review.  The Council plans for, and continues to succeed in, encouraging and facilitating economic growth across the district.  This success flows through to the Council’s finances, reflected in the level of income received from business rates and the New Homes Bonus grant. 

The Council has proactively monitored both the economic situation and Government announcements over the past 12 months and devised and implemented a budget and business planning strategy that has delivered within the constraints identified, consulting on a proposed balanced budget in November 2023.  The Council was able to identify the risk of interest rate rises at an early stage, locking in low interest rates for all of its planned borrowing requirements, meaning only new borrowing requirements will need to be taken at higher rates.

The proposed net budget for the council is £26.9m, which is a decrease of £1.4m from 2023/24.  The council plans to fund £0.6m of budget pressures and will deliver £1.8m of savings proposals and operational efficiencies as part of the 2024/25 budget.  A Band D Council Tax of £153.50 is proposed for the year which is an increase of £5 compared to 2023/24. The Capital Programme for the period 2024/25 – 2028/29 is proposed to be £40.4m. 

Recommendations           

The Executive is recommended to:

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

1.2      Delegate authority to the S151, following consultation with the Leader of the Council and Portfolio Member for Finance, to make appropriate changes to the Executive’s proposed budget to Council including policies and plans.

The Executive recommends to Council as follows:

1.3      Approve the proposed Fees and Charges schedule for 2024/25 (Appendix 7) and statutory notices be placed where required.

1.4      Consider and note the Equality Impact Assessments of the Budget (Appendix 8 and 8b)

1.5      In relation to the Business Plan (Section 3.1) to approve:

1.5.1   The Business Plan set out in Appendix 1.

1.6      In relation to the Revenue Budget Strategy (Section 3.2) and Medium-Term Financial Strategy (MTFS) (Section 3.5) to approve:

1.6.1   The net revenue budget for  ...  view the full agenda text for item 91

Resolved

(1)          That authority be delegated to the Section 151 Officer, following consultation with the Leader of the Council and Portfolio Member 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 Officer, following consultation with the Leader of the Council and Portfolio Member for Finance, 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 2024/25 and statutory notices be placed where required.

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

(5)          That Council be recommended to approve the Business Plan.

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

                      i.        The net revenue budget for the financial year commencing on 1 April 2024, as set out below, and further analysed in the Budget Book.

Directorate; Net budget 2024/25 £m

Communities: 8.917

Resources: 4.314

Chief Executive: 5.355

Service Sub-total: 18.586

Corporate Costs: 4.475

Policy Contingency: 3.872

Net Cost of Services: 26.933

                    ii.        The MTFS and Revenue Budget 2024/25, including the Savings Proposals and Pressures.

(7)          That, in relation to Council Tax, Council be recommended to approve an increase in the Basic Amount of Council Tax for Cherwell District Council for the financial year beginning on 1 April 2024 of £5, resulting in a Band D charge of £153.50 per annum.

(8)          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 2024/25, including the Minimum Revenue Provision (MRP) Policy, and the revised 2023/24 MRP Policy.

                        iii.        The Treasury Management Strategy, including the Prudential Indicators, and Affordable Borrowing Limit for 2024/25.

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

                      i.        A minimum level of General Balances of £6.1.

                    ii.        The Reserves Policy.

                   iii.        The medium-term reserves plan.

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

The Assistant Director of Finance (S151) submitted a report to consider and approve the Budget Setting for 2024/25 and Medium Term Financial Strategy 2028/29 as per the recommendations.

In introducing the report, the Portfolio Holder for Finance explained that this report was the culmination of the Budget and Business Planning process for 2024/25 to 2028/29 and set out the Executive’s proposed Business Plan, Annual Delivery Plan and related revenue budget for 2024/25, medium term financial strategy to 2028/29, capital programme to 2028/29 and all supporting policies, strategies, and information to recommend to Council.

The proposed net budget for the council was £26.9m, which was a decrease of £1.4m from 2023/24. The council planned to fund £0.6m of budget pressures and would deliver £1.8m of savings proposals and operational efficiencies as part of the 2024/25 budget.  A Band D Council Tax of £153.50 was proposed for the year which was an increase of £5 compared to 2023/24. The Capital Programme for the period 2024/25 – 2028/29 was proposed to be £40.4m. 

The Portfolio Holder for Finance thanked all respondents to the budget consultation, the Budget Planning Committee and all members who attended the December meeting of the Committee for their review of the budget. The Portfolio Holder for Finance thanks the Assistant Director Finance (S151 Officer) and the Finance Team for their hard work on the proposed budget.

In response to a question from Councillor Hingley regarding the additional funding the Government had advised local authorities would be receiving, the Leader advised that CDC had received confirmation earlier that afternoon. The Assistant Director Finance (S151Officer) advised that the additional funding CDC would receive would be added to the contingency budget.

Resolved

(1)          That authority be delegated to the Section 151 Officer, following consultation with the Leader of the Council and Portfolio Member 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 Officer, following consultation with the Leader of the Council and Portfolio Member for Finance, 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 2024/25 and statutory notices be placed where required.

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

(5)          That Council be recommended to approve the Business Plan.

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

                      i.        The net revenue budget for the financial year commencing on 1 April 2024, as set out below, and further analysed in the Budget Book.

Directorate; Net budget 2024/25 £m

Communities: 8.917

Resources: 4.314

Chief Executive: 5.355

Service Sub-total: 18.586

Corporate Costs: 4.475

Policy Contingency: 3.872

Net Cost of Services: 26.933

                    ii.        The MTFS and Revenue Budget 2024/25, including the Savings Proposals and Pressures.

(7)          That, in relation to Council Tax,  ...  view the full minutes text for item 91