Content

That
 
1. 
The initial draft 2025/26 Budget detailed in Appendix 7 be
agreed.
 
2. 
The initial draft 2025/26 Budget for each portfolio be referred to
the relevant PDS Committees for consideration.
 
3. 
The financial projections for 2026/27 to 2028/29 be noted.
 
4. 
It be noted that there are still areas of financial uncertainty
which will impact on the final 2025/26 Budget.
 
5. 
It be agreed to increase rent levels for London Affordable Rents
and Social (Formula) Rents by 2.7% from April 2025 as set out in
Section 8 of the report.
 
6. 
The setting of the schools’ budget, mainly met through
Dedicated Schools Grant, be delegated to the Education, Children
and Families Portfolio Holder, allowing for consultation with the
Schools Forum in section 9 of the
report.
 
7. 
It be noted that the Dedicated Schools Grant Deficit Recovery Plan
will be reviewed and updated for future reporting to Members in
section 9.16 of the report.
 
8. 
The proposed contribution of £248,444 in 2025/26 to the
London Boroughs Grant Committee in section 12 of the report be
agreed.
 
9. 
It be noted that the outcome of consultation with PDS Committees
will be reported to the next meeting of the Executive in section
15.1 of the report.
 
10.The outcome of the Provisional Local Government
Financial Settlement 2025/26 as detailed in the report be
noted.
 
11.The budget gap remaining of an estimated
£24.9m per annum by 2028/29 and
that any decisions made for the 2025/26 Budget will have an impact
on the future year projections be noted.
 
12.It be noted that any final decision by
Executive on recommended Council Tax and Adult Social Care Precept
levels to Council will normally be undertaken at the next meeting
of Executive.