Purpose

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 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 full Council.

Content

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.