Issue - meetings

It is RECOMMENDED that Council: -

(d)           Further to Councils decision on 12 July 2022 to apply a council tax premium to second homes and an empty homes premium, to approve the formal determination as required by the Levelling Up and Regeneration Act 2023.

Note – resolutions (a) – (c) were resolved matters by the Cabinet.

The Portfolio Holder for Finance, Councillor Mike Cox presented the report on the Medium Term Financial Plan (MTFP) Update and outlined the recommendations as set out on the agenda.

RESOLVED that Council: -

(d)           Further to Councils decision on 12 July 2022 to apply a council tax premium to second homes and an empty homes premium, to approve the formal determination as required by the Levelling Up and Regeneration Act 2023.

Note – resolutions (a) – (c) were resolved matters by the Cabinet.

Voting: 59:3 (3 abstentions)

Councillor Tony Trent left the meeting at 20:04

This report presents:

·     Progress towards delivering a legally balanced budget for 2024/25.

·     The latest medium-term financial plan (MTFP) of the council as updated for any identified implications of the governments Autumn Statement.

·     In the first instance, that Cabinet has significantly completed the work to balance the 2024/25 revenue budget based on the £12m funding gap set out in the November report. However, predominately due to the higher than assumed National Living Wage announcement by Government that council needs to find an extra £6m to now close the gap.

In addition, the report proposes not to change the Local Council Tax Support Scheme (LCTSS) for 2024/25 and therefore the council will continue to operate the same scheme that it has operated since April 2019.

RESOLVED that Cabinet: -

(a)           acknowledges the further progress towards delivering a sustainable balanced budget for 2024/25;

(b)          endorses the updated MTFP position; and

(c)           approve the continuation of the current Local Council Tax Support Scheme (LCTSS) into 2024/25.

RECOMMENDED that Council: -

(d)           Further to Councils decision on 12 July 2022 to apply a council tax premium to second homes and an empty homes premium, to approve the formal determination as required by the Levelling Up and Regeneration Act 2023.

Voting: Unanimous

Portfolio Holder: Finance

Reason

To comply with accounting codes of practice and best practice which requires councils to have a rolling multi-year medium term financial plan.

To present the further progress towards delivering a balanced budget for 2024/25 and the latest high-level overview of the medium-term financial plan.

To ensure a prudent approach to financial management based on traditional local government financial management processes.

To present ongoing progress against the Best Value Notice requirement to establish a sound budget setting process and begin preparation for the 2024/25 budget as soon as possible and draft a sustainable MTFP and three-year budget by the end of September 2023.

To present for Council consideration the formal determination in support of the previous decision to apply a council tax premium to second homes.

The Portfolio Holder for Finance presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'A' to these Minutes in the Minute Book.

Cabinet was advised that the report presented:

·     Progress towards delivering a legally balanced budget for 2024/25.

·     The latest medium-term financial plan (MTFP) of the council as updated for any identified implications of the governments Autumn Statement.

Cabinet was advised that in the first instance, Cabinet had significantly completed the work to balance the 2024/25 revenue budget based on the £12m funding gap set out in the November report, however, predominately due to the higher than assumed National Living Wage announcement by Government that council needs to find an extra £6m to now close the gap.

In addition, Cabinet was advised that the report proposes not to change the Local Council Tax Support Scheme (LCTSS) for 2024/25 and therefore the council will continue to operate the same scheme that it has operated since April 2019.

Councillor Canavan addressed the Cabinet requesting that Cabinet reconsiders the cuts and stressed that he couldn’t support redundancies.

Cabinet highlighted that there had been lots of meetings taking place reviewing areas where savings could be made, and that investments will be made where it is right to invest and consultation will take place on areas where changes can be made enabling choices where there can be meaningful choices made.

RESOLVED that Cabinet: -

a)             acknowledges the further progress towards delivering a sustainable balanced budget for 2024/25;

b)            endorses the updated MTFP position; and

c)             approve the continuation of the current Local Council Tax Support Scheme (LCTSS) into 2024/25.

RECOMMENDED that Council: -

d)             Further to Councils decision on 12 July 2022 to apply a council tax premium to second homes and an empty homes premium, to approve the formal determination as required by the Levelling Up and Regeneration Act 2023.

Voting: Unanimous

Portfolio Holder: Finance

Reason

To comply with accounting codes of practice and best practice which requires councils to have a rolling multi-year medium term financial plan.

To present the further progress towards delivering a balanced budget for 2024/25 and the latest high-level overview of the medium-term financial plan.

To ensure a prudent approach to financial management based on traditional local government financial management processes.

To present ongoing progress against the Best Value Notice requirement to establish a sound budget setting process and begin preparation for the 2024/25 budget as soon as possible and draft a sustainable MTFP and three-year budget by the end of September 2023.

To present for Council consideration the formal determination in support of the previous decision to apply a council tax premium to second homes.