Agenda item

The Committee gave consideration to a report presented by the Business Support Team Leader, setting out the proposed budget for 2024/25 and the forecast budget for the following four years for services within the Corporate Policy and Resources Committee, and those recommended for approval by the Prosperous Communities Committee in January. Members heard that the proposals formed part of an overall balanced budget for 2024/25, as detailed in the next item on the agenda. The net movement from the 2023/24 base budget for this committee was an increase of £0.49m, with the significant movements including the following:

·         An increase in salary costs of £0.376m to reflect the incremental impact of the current year’s pay award, plus a forecast increase of 3.5% for 2024/25.

·         An increase of £0.113m for ‘contingency’ budgets which included member led growth items, to be drawn down as required.

·         Inflationary increases had been applied to utilities and to reflect contractual increases within supplies and services budget lines with an increase in budget of £0.061m.

·         These increases in expenditure budgets were offset by a decrease in the use of earmarked reserves of (£0.271m)

Members were asked to recommend the draft 2024/25 budget to Council for both this Committee and those of the Prosperous Communities Committee for inclusion in the Medium-Term Financial Plan to be reported to Council in March 2024.

Members thanked the Officer for a clear and detailed report. A Member of the Committee suggested that there could be improved communication with members of the public regarding costs incurred by the council, such as salary increases, in order to help explain other financial considerations, such as council tax increases.

Further discussion highlighted the limited financial settlement which was announced by central government prior to Christmas, with many local authorities lobbying for greater recognition of the work undertaken by local councils. It was confirmed that an additional £120,000 had been awarded.

Members again thanked Officers for their time and efforts and, having been proposed and seconded, it was unanimously

RESOLVED that

a)    the Corporate Policy and Resources Committee budget 2024/2025 be accepted and recommended to Council for inclusion in the overall Council budget 2024/2025; and

b)    the Prosperous Communities Committee Budget 2024/2025 be accepted and recommended to Council for inclusion in the overall Council budget for 2024/2025; and

c)    any minor changes be delegated to the Chief Finance Officer in consultation with the Chairman of the Corporate Policy and Resources Committee; and

d)    Members recommend to Council the 2025/2026 to 2028/2029 estimates for both this Committee and those of Prosperous Communities Committee for inclusion in the Medium Term Financial Plan 2024/2025 to 2028/2029 (as amended by any decisions taken on this agenda).