Purpose

To consider the
recommendations

Content

RESOLVED
THAT:  Cabinet recommends that
Council:
 

1.   
Approves the revised budget for 2024/25
which is reported as part of the budget monitoring process for 31
December 2024 in Section 6 and Appendix 17.

2.   
Considers the budget assessment by the
Section 151 Officer at Appendix 2 in agreeing the following
recommendations.

3.   
Approves the final budget proposals
including a proposed council tax for the services provided by
Cheltenham Borough Council of £244.79 for the year 2025/26
based on a Band D property (an increase of 2.99%), as detailed in
paragraphs 9.1 to 9.6.

4.   
Approves the savings / additional income
totalling £1,130,000 and the budget strategy at Appendix
4.

5.   
Approves the revenue growth items
totalling £392,647 at Appendix 5.

6.   
Approves the capital programme at
Appendix 6.

7.   
Approves the use of reserves and general
balances and note the projected level of reserves, as detailed at
Appendix 7.

8.   
Approves the programmed maintenance
programme at Appendix 8.

9.   
Approves the Medium Term Financial Strategy (MTFS) detailed in
Appendix 9.

10.Approves
the flexible use of capital receipts strategy as detailed in
Appendix 10.

11.Notes the
Council position in relation to the Gloucestershire business rates
pool for 2025/26.

12.Approves the Pay
Policy Statement for 2025/26, including the continued payment of a
living wage supplement at Appendix 11.

13.Notes the responses
to the questions raised during the budget consultation in Appendix
12.

14.Approves the proposed
fees and charges schedule for 2025/26 at Appendix 13, subject to
appropriate consultation where required.

15.Approves the Minimum
Revenue Provision Policy 2025/26 at Appendix 14;

16.Approves
a level of supplementary estimate of £100,000 for 2025/26 as
outlined in Section 18.
Based on the information included in
Section 15 of this report:

17.
Approves the delivery of the Mobility Hub as a
single-phase construction and increase the Councils commitment
under the Development Funding Agreement to facilitate this
change.

18.
Notes that a single-phase delivery is forecast to
generate a further £4.8m in land receipts to the
Council.
 

19.
Notes that despite an increased funding
commitment under the Development Funding Agreement, this is more
than offset by the provision of £20m in Levelling Up Funding;
overall borrowing is circa £10.6m lower than previously
approved.
 
20. Delegates authority to the Deputy Chief Executive (Section 151
Officer) in consultation with the Cabinet Member for Major
Developments and Housing Delivery to finalise the terms of a Deed
of Variation to the Development Funding Agreement.