Agenda item

45.1.               Budget Proposals and Medium-Term Financial Forecasts 2023/24 (Forward Plan Reference FP1143)

Following the consideration of the 2023/24 budget proposals at Cabinet on the 10 and 24 January 2023, the purpose of this report is to present to Council the budget proposals for approval.

The budget was considered by Overview and Scrutiny Committee (OSC) on 17 January 2023 following the review by a Task and Finish Panel. No recommendations for amendments were given by OSC, which was presented to Special Cabinet on 24 January 2023.

This year has been an extremely challenging year, with the impact of inflation on contracts, supplies and utilities, along with the ongoing impact of the pandemic on some of the council’s income streams. The MTFS position was updated in September 2022, which showed an increased budget gap for 2023/24 of just under £4.5m.

The report sets out the budget proposals for 2022/23 and covers the General Fund and Housing Revenue budgets; The Capital Programme and Financing Strategy; Fees and Charges; The Medium-Term Financial Strategy; and Special Expense Details.

It was moved and seconded by Councillors S. Boulton and T. Kingsbury and

RESOLVED:

(23 voting FOR and 20 AGAINST)

Voting FOR: J. Bond, J. Boulton, S. Boulton, J. Cragg, B. Fitzsimon,

G. Ganney, A. Hellyer, C. Juggins, S. Kasumu, T. Kingsbury, J. Lake,

G. Michaelides, T. Mitchinson, N. Pace, D. Richardson, B. Sarson,

P. Smith, C. Stanbury, F. Thomson, T. Travell, R. Trigg, S. Tunstall, and

F. Wachuku

Voting AGAINST: M. Birleson, S. Bonfante, L. Brandon, J. Broach,

L. Chesterman, L. Crofton, M. Holloway, D. Jones, F. Marsh, G. Moore,

L. Musk, D. Panter, J. Quinton, J. Ranshaw, T. Rowse, J.P. Skoczylas,

P. Shah, M. Siewniak, K. Thorpe, and P. Zukowskyj

(1)        Council noted the recommendations from Cabinet, and the Statement of the Chief Financial Officer on the robustness of budgets and adequacy of reserves (Appendix N of the report).

(2)        Council noted the taxbase amounts for the year 2023/24 have been set in accordance with regulations made under Sections 31A and 31B of the Local Government Finance Act 1992 and are detailed in the report.

(3)        Council approved the budget proposals as presented at Special Cabinet on 24 January 2023 and detailed in the report.