Purpose

To consider and
approve:
 
·        
the revised General Fund Budget and Capital
Programme for 2024/25, and
 
to consider and recommend to
Council:
 
·        
the General Fund Budget Estimates 2025/26 and the
Medium-Term Financial Strategy 2025/26 to 2029/30
·        
the Council Tax levels for 2025/26
·        
the Capital Programme 2025/26-2027/28,
and
·        
the Treasury Management Strategy Statement, Capital
Strategy and Annual Treasury Investment Strategy for
2025/26.

Content

AGREED that:
 

(i)           
the revised estimates for 2024/25 as set out in
Section 8 and Appendix A showing an estimated shortfall of
£350k (to be funded from the Budget Equalisation Reserve if
required), be approved.
 
and to recommend to Council
that:
 

(ii)         
the General Fund revenue budget for 2025/26 as set
out in Section 9 and Appendix A be approved.

(iii)        
the Medium-Term Financial Strategy as outlined in
this report and Appendix B be adopted.

(iv)        
the Capital Programme and funding statement as set
out in Appendix D be approved.

(v)         
the adoption of the additional Business Rates Relief
measures as detailed in Section 7 using Discretionary Relief Powers
be approved.

(vi)        
the expenses detailed in Section 12 be approved to
be treated as general expenses for 2025/26.

(vii)       
the Port Health levy for 2025/26 be set as shown in
Section 13.

(viii)      
the current working age Council Tax Support Scheme
be adopted with effect from 1 April 2025 as set out in Section 15,
with appropriate changes to the prescribed pensioner scheme as
determined by regulations.

(ix)        
the Treasury Management Strategy Statement, Minimum
Revenue Provision Policy Statement (including amending the MRP
calculation to be based on the ‘Annuity method’ from
2024/25 onwards), Treasury Investment Strategy, Prudential and
Treasury Indicators for 2025/26 and Capital Strategy 2025/26 as set
out in Section 16 and Appendix E be approved.

(x)         
the Band D Council Tax level for Fenland District
Council Services for 2025/26 be set at £254.79, no change on
the current year.