Decision Maker: Cabinet, Council

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 11, 2025

Purpose: To set a net budget requirement and the Council Tax for the Council for the financial year 2025-26

Content: *RECOMMENDATIONS TO COUNCIL:   That the Cabinet recommends to the Council:   a)    That a net budget requirement of £20,366,000 2025-26 be approved; b)    That Council Tax be increased by £5.58 from £186.48 to £192.06 for a Band D equivalent in 2025-26; c)    That a sum of £189,300 is transferred to the Grants and Concessions Reserve to fund a new Community Assets grant programme to be allocated by the Grants and Concessions Panel as detailed in paragraph 6.7 of the report; d)    That as outlined in paragraph 6.12 of the report, the provisional £2m Extended Producer Responsibility for Packaging grant award be transferred to earmarked reserves, with requests for funding being subject to future reports to Cabinet and Council as required; e)    That a sum of £72,700 is transferred from the General Fund Reserve in order to balance the 2025-26 revenue budget following the confirmation of government support announced in the local government final financial settlement; f)     That of the £327,146 due to be received from the UK Shared Prosperity Fund (UKSPF), £263,000 be allocated to the projects outlined in paragraphs 6.13 and 6.14 of the report, and that delegated authority be given to the Director of Growth and Place to spend the remaining UKSPF funding of £64,146, following consultation with the Cabinet member for Culture, Sport and Place; g)    The capital programme, including the asset renewal programme (appendices 1c and 1d of the agenda report) be approved; and, h)    The capital prudential indicators and the Minimum Revenue Provision (MRP) Policy (appendix 3 of the agenda report) be approved;   That the Cabinet:   Notes the budget variances included in the Draft Budget Spending Plan as set out in appendix 1b of the agenda report.