Purpose

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

Content

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 amendment, with
authority delegated to the Section 151 Officer to update the budget
papers to reflect the amendment, the proposed Fees and Charges
schedule for 2025/26 be approved and it be noted that statutory
notices would be placed where required.
·        
That the proposed increase of £6 in garden
waste charges in 2025/26 be delayed by one year and this increase
be applied in 2026/27 as well as other planned changes and it be
noted that this will reduce income in 2025/26 by
£0.143m.
 

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

(4)         
That the Corporate Plan be approved and the Internal
Perspectives be noted.
 
(5)         
That, in relation to the Revenue Budget Strategy and
Medium-Term Financial Strategy,  the
following net directorate budgets, as amended, be agreed, with
authority delegated to the Section 151 Officer to update the budget
papers to reflect the amendments.
 

 
(6)         
That, subject to the following amendments with
authority delegated to the Section 151 Officer to amend the budget
papers to reflect the amendments, the Medium-Term Financial
Strategy and Revenue Budget 2025/2026, including Savings Proposals
and Investments be approved:
·        
To introduce the following service
investments:
o  
Heating Hardship Fund of £0.100m to support
pensioners who are struggling during the cost-of-living
crisis
o  
Additional Homelessness Prevention Support of
£0.065m.
o  
£0.051m to fund a Land Drainage Officer to
provide additional flood support
·        
To delay service investment DPD2504 –
Conservation Areas by one year, reducing costs in 2025/2026 only,
by £0.020m.
·        
To remove the proposed investment in the Waste
Collection Partnership Working Fund of £0.150m.
 
(7)         
That 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, be agreed.
 
(8)         
That it be agreed 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, and that all other empty property
premiums will remain.
 
(9)         
That it be noted that the Council Tax Base 2025/26
was determined at the Executive meeting held on 6 January
2025:
 
a)   
for the whole Council area as 59,853.6 [item T in
the formula in Section 31B of the Local Government Finance Act
1992, as amended (“the 1992 Act”)]; and
 
b)   
For dwellings in those parts of its area to which a
Parish Precept relates, Appendix 21 to the report.
 

(10)      
That it be agreed the Council Tax requirement for
the Council’s own purposes for 2025/26 (excluding Parish
Precepts and Special Expenses) is £9,486,796.
 

(11)      
That, subject to delegation to the Section 151
Officer to update the budget papers to reflect the agreed
amendments to a) to reduce expenditure by £0.413m and b) to
reduce income by £0.413m, the following amounts be calculated
for the year 2025/26 in accordance with Sections 31 to 36 of the
1992 Act:
 
a)   
£140,304,768 (subject to recalculation with a
reduction of £0.413m) being the aggregate of the amounts
which the Council estimates for the items set out in Section 31A
(2) of the 1992 Act, taking into account all precepts issued to it
by Parish Councils and any additional special expenses.
 
b)   
£124,192,690 (subject to recalculation with a
reduction of £0.413m) being the aggregate of the amounts
which the Council estimates for the items set out in Section 31A
(3) of the 1992 Act.
 
c)   
£16,112,078 being the amount by which the
aggregate at 3(a) above exceeds the aggregate at 3(b) above,
calculated by the Council, in accordance with Section 31A (4) of
the 1992 Act, as its Council Tax requirement for the year (Item R
in the formula in Section 31B of the 1992 Act).
 
d)   
£269.19 being the amount at 3(c) above (Item
R), all divided by Item T (1(a) above), calculated by the Council,
in accordance with Section 31B of the 1992 Act, as the basic amount
of its Council Tax for the year (including Parish Precepts and
Special Expenses).
 
e)   
£6,625,282 being the aggregate amount of all
special items (Parish Precepts and Special Expenses) referred to in
Section 34(1) of the 1992 Act as set out in Appendix 21 of the
report.
 
f)    
£158.50 being the amount at 3(d) above less
the result given by dividing the amount at 3(e) above by Item
T(1(a) above), calculated by Cherwell District Council the Council,
in accordance with Section 34(2) of the 1992 Act, as the basic
amount of its Council Tax for the year for dwellings in those parts
of its area to which no Parish Precept or special item relates.
1.6.6 It be noted that for the year 2025/26 the Oxfordshire County
Council and the Police and Crime Commissioner for Thames Valley
have issued precepts to the Council, in accordance with Section 40
of the 1992 Act, for each category of dwellings in the
Council’s area as indicated below:
 

Valuation Band

Oxfordshire County Council

Police and Crime Commissioner for Thames
Valley

£

£

A

1,274.27

188.85

B

1,486.64

220.33

C

1,699.02

251.80

D

1,911.40

283.28

E

2,336.16

346.23

F

2,760.91

409.18

G

3,185.67

472.13

H

3,822.80

566.56

(12)      
That the Council, in accordance with Sections 30 and
36 of the 1992 Act, hereby sets the amounts shown in Appendix 22 to
the report as the amounts of Council Tax for the year 2025/26 for
each part of its area and for each of the categories of
dwellings.
 

(13)      
That the Council has determined that its relevant
basic amount of Council Tax for 2025/26 is not excessive in
accordance with principles approved under Section 52ZB of the 1992
Act.
 

(14)      
That the Capital Bids and Capital Programme
(Appendices 17 and 18 to the report) be approved.
 

(15)      
That the Capital and Investment Strategy 2025/26
(Appendix 19 to the report), including the Minimum Revenue
Provision (MRP) Policy, be approved.
 

(16)      
That the Treasury Management Strategy, including the
Prudential Indicators, and Affordable Borrowing Limit for 2025/26
(Appendix 20 to the report) be approved.
 

(17)      
That a minimum level of General Balances of
£7.8m, as supported by Appendix 15 to the report, be
approved.
 

(18)      
That the Reserves Policy (Appendix 14 to the report)
be approved.
 

(19)      
That, subject to the following amendment, with
authority delegated to the Section 151 Officer to update the budget
papers to reflect the amendment, the Medium-Term Reserves Plan
(Appendix 16 to the report) be approved:
·        
Reduce the contribution to reserves by
£0.189m

(20)      
That the Pay Policy Statement, as required by the
Localism Act 2010, be approved.