Purpose

To receive and approval the Budget and Capital
Programme for 2025/26.

Decision

 
RESOLVED that the
Executive Recommend to Council:
 
(i)            
The latest Medium-Term Financial Plan forecast at Annex
1;
(ii)          
An increase in Reigate & Banstead’s Band D Council Tax
of £7.69 (2.99%) and a final taxbase of 64,564.30 Band D
equivalents;
(iii)        
A Revenue budget requirement of £22.354 million for
2025/26, as set out in this report and at Annex 1, which
reflects:
a) Service budget growth
proposals totalling £0.892 million, savings of (£0.869)
million (reference paragraph 18 Table 2), which includes fees and
charges income of (£0.182) million, plus forecast issues,
risks and opportunities totalling £0.304 million;
b) Central Revenue Budget
net savings and growth proposals totalling (£0.836) million
(reference paragraph 32 Table 4).
(iv)        
The forecast for Revenue Reserves (Annex 3) and the recommended
use of £0.304 million from the IT Strategy Reserve to fund
the approved IT Strategy (as detailed in the Services
budget);
(v)          
A final Capital Programme of £33.974 million for 2024/25
to 2028/29 as set out in this report, which includes capital growth
proposals of £0.839 million and capital scheme reductions of
(£11.702m).
(vi)        
That the existing Local Council Tax Support scheme be retained
for 2025/26 with no revisions required or changes to Council Tax
premiums.
(vii)       
The Chief Finance Officer’s report on the robustness of
the Budget estimates and adequacy of reserves.
 
RESOLVED that the
Executive:
 
(viii)     
Authorises the Chief Finance Officer to make any necessary final
technical adjustments to the Budget and Council Tax arising from
final budget refinements or changes to Government funding;
(ix)        
Approves a reserve movement of £0.500m from the Corporate
Plan Delivery Fund to a New Reserve to earmark funds for Local
Government Reorganisation.