Content

The Executive Mayor and Cabinet
RESOLVED to;
 
2.1 Consider the responses to
the budget engagement with residents and statutory consultation
with businesses (set out in Section 10 of this report and detailed
more fully in Appendix H).
 
2.2 Consider and have due
regard to the equalities impact assessment undertaken on the budget
proposals as set out in Appendix L.
 
2.3 Approve the responses to
the Scrutiny and Overview Committee recommendations (to follow
publication of this report) on the budget proposals as set out in
Section 20.
 
2.4 Note the Council’s
request for Exceptional Financial Support (EFS) in the form of a
Capitalisation Direction from the Ministry for Housing, Communities
and Local Government of up to £136m for 2025-26, increasing
to £203m by 2028-29.
 
2.5 Approve that (subject to
Full Council approving the budget and any further decisions
required of the Executive including as set out in Paragraph 2.21
below) that Corporate Directors be authorised to implement their
respective growth and savings proposals for 2025-26 in accordance
with the recommendations within this report, the Council's
Constitution, Financial Regulations, relevant Schemes of Delegation
and undertake any further consultation required, including
regarding the Equalities Impacts of specific decisions within the
Budget envelope as approved by Full Council.
 
2.6 Propose to Full Council for
approval an increase in the Croydon element of the 2025-26 council
tax charge by 2.99% (Band D £56.68).
 
2.7 Propose to Full Council for
approval a 2% increase (Band D £37.91) in the 2025-26 Adult
Social Care precept levy.
 
2.8 Note, based on the Mayor of
London’s draft consolidated budget, a proposed 4.03% (Band D
£18.98) increase regarding the Greater London Authority
precept.
 
2.9 Propose to Full Council for
approval, the calculation of budget requirement and council tax as
set out in Appendix G and note that the inclusion of the GLA
precept will result in a total increase of 4.80% (Band D
£113.57) in the overall Croydon council tax bill.
7
 
2.10 Propose to Full Council
for approval the setting of the Council’s own total net
expenditure budget for 2025-26 at £373.501m.
 
2.11 Propose to Full Council
for approval the detailed programme of revenue savings, income,
demand pressures and legacy budget corrections, as set out in
Appendix C.
 
2.12 Propose to Full Council
the Reserves Policy set out in Appendix K.
 
2.13 Propose to Full Council
for approval that the Corporate Director of Resources be authorised
to collect and recover National Non-Domestic Rate and council tax
in accordance with the Local Government Finance Act 1988 (as
amended) and the Local Government Finance Act 1992.
 
2.14 Note the revenue budget
assumptions detailed in the report and budget projections to 2028-
29 made by the Corporate Director of Resources in agreement with
the Chief Executive and with the Corporate Management
Team.
 
2.15 Note that all Directors
will be required to report on their projected financial position
compared to their revenue estimates in accordance with the 2025-26
monthly financial performance reporting timetable.
 
2.16 Note the statement
(Appendix I of the Report) of the Corporate Director of Resources
and S151 Officer, under Section 25 of the Local Government Act
2003, regarding the adequacy of reserves and robustness of
estimates.
 
2.17 Note that the provisional
Dedicated Schools Grant allocation for 2025-26 will increase by
£50.859m to £517.684m (section 12 of the
Report).
 
2.18 Propose to Full Council
that the Council Tax Support scheme (statutory local council tax
reduction scheme) under Section 13A(2)
of the Local Government Finance Act 1992 is not changed from that
agreed by Full Council resolution on 6th March 2024.
 
2.19 Note that given the
increasing scale of the budget gaps projected in the MTFS, the
Improvement and Assurance Panel has asked the Council to produce a
‘Stabilisation Plan’ by no later than 31 March
2025.
 
2.20 Agree that for 2025-26,
£25m of the EFS relating to future growth be held in a
corporate contingency and to be released and allocated by the
Executive in consultation with the Improvement and Assurance
Panel.