Issue - meetings

To receive and consider the report of the Director of Finance.

That members agree the contents of this report in order to start the budget consultation process and note the following proposed budget items, in particular:

·         A proposed 1.99% increase in council tax in 2022/23 with no proposed cuts to services

·         The forecast balanced budget for 2022/23 and the forecast budget position in 2023/24 and 2024/25

·         To note the proposals in the report for investment in the Labour Administration’s priority areas

·         To increase the capital programme by £74k to supplement the existing £21k budget at Milestones Meadows to deliver key improvements at the site.

Councillor Peter Wilson, Executive Member (Resources) presented the report of the Director of Finance which sets out the budget position for 2022/23 including the forecast for the following 2 years to 2024/25 and also presents the relevant proposals in respect of the use of forecast resources identified for 2022/23 and the budget consultation.

Members noted the proposed council tax increase of 1.99% for 2022/23 and the assumption of a 1.99% increase in 2023/24 and 2024/25; this assumption will be revisited every year and will be dependent on the outcome of the future Government funding announcements. It was also noted that continued investment is reflected in ongoing revenue budgets to ensure delivery of corporate strategy priorities, alongside capital investments of over £48m and strategies to reduce the budget deficit over the medium term.

Consultation on the proposed budget for 2022/23 will commence following approval of the proposals by Executive Cabinet.

Decision:

That members agree the contents of this report in order to start the budget consultation process and note the following proposed budget items, in particular:

·         A proposed 1.99% increase in council tax in 2022/23 with no proposed cuts to services

·         The forecast balanced budget for 2022/23 and the forecast budget position in 2023/24 and 2024/25

·         To note the proposals in the report for investment in the Labour Administration’s priority areas

·         To increase the capital programme by £74k to supplement the existing £21k budget at Milestones Meadows to deliver key improvements at the site.

Reason for recommendations:

The council wishes to set out its budget proposals and consult on them with residents.

Other options considered and rejected:

None, this is the draft budget and alternative budgets may be considered as part of the final budget proposal.