Purpose

To set a net budget requirement and the
Council Tax for the Council for the financial year
2025-26

Content

*RECOMMENDATIONS TO
COUNCIL:
 
That the Cabinet
recommends to the Council:
 

a)   
That a net budget requirement of £20,366,000 2025-26 be
approved;

b)   
That Council Tax be increased by £5.58 from £186.48
to £192.06 for a Band D equivalent in 2025-26;

c)   
That a sum of £189,300 is transferred to the Grants and
Concessions Reserve to fund a new Community Assets grant programme
to be allocated by the Grants and Concessions Panel as detailed in
paragraph 6.7 of the report;

d)   
That as outlined in paragraph 6.12 of the report, the
provisional £2m Extended Producer Responsibility for
Packaging grant award be transferred to earmarked reserves, with
requests for funding being subject to future reports to Cabinet and
Council as required;

e)   
That a sum of £72,700 is transferred from the General Fund
Reserve in order to balance the 2025-26 revenue budget following
the confirmation of government support announced in the local
government final financial settlement;

f)    
That of the £327,146 due to be received from the UK Shared
Prosperity Fund (UKSPF), £263,000 be allocated to the
projects outlined in paragraphs 6.13 and 6.14 of the report, and
that delegated authority be given to the Director of Growth and
Place to spend the remaining UKSPF funding of £64,146,
following consultation with the Cabinet member for Culture, Sport
and Place;

g)   
The capital programme, including the asset renewal programme
(appendices 1c and 1d of the agenda report) be approved;
and,

h)   
The capital prudential indicators and the Minimum Revenue
Provision (MRP) Policy (appendix 3 of the agenda report) be
approved;
 
That the
Cabinet:
 
Notes the budget
variances included in the Draft Budget Spending Plan as set out in
appendix 1b of the agenda report.