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The recommendations set
out in the report on the General Fund Budget and Council Tax for
the coming years were agreed as follows: 

(i)      Council considers and
acknowledges the Section 151 Officer’s s25 report on the
robustness of the proposed budget and the adequacy of the
Council’s reserves, as set out in Appendix 8 to the report,
including the factors which underpin the budget and specifically
the need for exceptional financial support to balance the
budget;

(ii)     it be noted that the financial
position has been based on the final Local Government Finance
Settlement announced on 5 February 2024 together with any further
announcements at that date;

(iii)     it be noted that the Council was granted
permission to raise council tax by an extra 9.99% without the need
for a local referendum and that the report assumes a council tax
increase of 9.99%;

(iv)    it be noted that the net cost of
services position includes previously agreed savings and pressures
included in the ‘Business as Usual Budget’ approved by
Council on 8 February 2024, as updated in the report (link provided
in background papers);

(v)     the final changes to the budget
set out in paragraphs Section 5 and Table 4 of the report, be
approved;

(vi)    the flexible use of capital receipts
to support transformation activity under the Improvement and
Recovery Plan set out in Appendix 7 be approved;

(vii)    the position of the Business Rates and
Council Tax Collection Fund, and the Council Tax and Business Rates
bases for 2024/25 as set out in Section 11 be
noted;

(viii)   it be noted that Exceptional Financial
Support (EFS) is required to balance the 2023/24 budget and that
discussions with Central Government are ongoing, as per Appendix 2
to the report;

(ix)    it be noted that the budget has been
set based on the assumption that the request for Exceptional
Financial Support in respect of the 2024/25 budget deficit is
granted;

(x)     it be noted that the projected
revenue impact of the Minimum Revenue Provision (MRP) historic and
2024/25 requirements under the revised MRP policy agreed as part of
the Treasury Management
report elsewhere on the agenda and that
the draft MRP guidance has been applied to the treatment of MRP in
the report as set out in Appendix 2;

(xi)    the Council’s position on
Reserves, recognising the unique situation the Council faces, be
noted;

(xii)    it be noted that work on the budget
will continue during 2024/25 on a medium-term financial position,
with more savings likely to be required to Council
services;

(xiii)   the full net cost
of services requirement for 2024/25, including the impact of the
historic borrowing position is £189m as per Table 3, be
agreed;

(xiv)   the revised Business Rates Discretionary
Policy and its application for 2024/25 as set out in Appendix 4 to
the report, be approved;

(xv)   the overall Hardship Policy and associated
costs as set out in Appendix 5 to the report, including the revised
Council Tax Hardship scheme, which is set out in Appendix 6 to the
report, be approved;

(xvi)   the changes to the level of council tax
premium applied to second and long-term empty homes as set out in
paragraphs 11.21 and 11.22 of the report, be
approved;

(xvii)  it
be noted that a Council Tax Base of 42,255.5 is the amount
calculated by the Council, in accordance with the
Regulations;

(xviii) the Council increases its
share of Council Tax for a Band D household by £26.31 per
annum (9.99%), with other bands increased in line with the formula,
be agreed;

(xix)   an amount of Council Tax be set for each
valuation band in accordance with Section 30 of the Local
Governance Finance Act, 1992 as set out in the Council Tax
Resolution in Appendix 10 to the report, be agreed;
and

(xx)   quarterly updates on progress against the
delivery of the Improvement and Recovery Plan including the
budgeted savings on the revenue and capital monitoring position be
required.