Purpose

To
present the City Mayor’s proposed budget for 2024/25 and to
describe the future financial outlook.

Decision

(1)       To publish draft
revenue budget proposals in advance of making firm proposals to the
Council which meets on 21 February 2024;
 
(2)       To advise the
scrutiny function that comments on the draft proposals may be made
on or before the 8 February 2024.

Reasons for the decision

Under the
constitution, the full Council is responsible for approving the
budget and this is scheduled to take place on 21 February 2024.
 
The City Mayor is
responsible for proposing a budget to the Council. In advance of
making firm proposals, the constitution requires the preparation of
a draft proposal which can be considered by the scrutiny
function.
 
The draft proposal is
contained in a report. It is noted that this was prepared without
the benefit of the provisional local government finance
settlement.  The final report to Council
will reflect the settlement, and any further changes in cash
ceilings arising from decisions taken between now and February (as
permitted by the constitution).