Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: February 11, 2025

Purpose:

Content: RESOLVED TO RECOMMEND   It is recommended that Cabinet recommends Council to agree the following:   General Fund Revenue Estimate   1. Set a Dacorum Borough Council General Fund Council Tax requirement of £14.172m, and a provisional amount of £15.565m for the combined Borough Council and Parish Councils’ requirement for 2025/26.   2. Approve a Band D Council Tax increase of £6.86 (2.99%) for Dacorum Borough Council.   3. Approve the base estimates for 2025/26, as shown in Appendix A1.   4. Approve the forecast balances of Revenue Reserves as shown in Appendix J1, J2, and J3, and approve section 9 of this report as the updated Reserves Strategy.   5. Note proposed Fees and Charges for 2025/26 as set out in Appendices C3, D3, and E3.   6. Approve and adopt the Treasury Management Strategy for 2025/26, as detailed in Appendix K.   7. Approve and adopt the Capital Strategy for 2025/26, as detailed in Appendix L.   8. Note that this budget paper, if approved by Council, will form part of the Medium-Term Financial Strategy.   Capital Programme   9. Approve the Capital Programme for 2025/26 to 2028/29, as detailed in Appendix I.   10. Approve the financing proposals in Appendix I subject to an annual review of the financing options by the Chief Finance Officer, in consultation with the Portfolio Holder for Corporate and Commercial, during the preparation of the Statement of Accounts. Housing Revenue Account (HRA)   11. Set dwelling rents according to DLUHC guidance, which provides for a rent increase of CPI plus 1% which equates to 2.7%. The average dwelling rent is proposed to be £130.07 per week in 2025/26 (based on 52 weeks).   12. Approve the HRA budget for 2025/26 as shown in Appendix F. Employer Terms and Conditions   13. Note that the hourly rate of all Council employees continues to exceed the rate proposed by the rates of the Living Wage Foundation, for 2025/26.(to be reviewed annually thereafter).   Statement by Chief Finance Officer   14. Approve the statement by the Chief Finance Officer regarding the robustness of the budget estimates and level of reserves as set out in Appendix M.