Issue - meetings

The Charter Trustees are required to set the budget for 2024/25 and any subsequet precept for submission to BCP Council by 31 January 2024.

The Responsible Financial Officer presented a Budget and Precept report, highlighting:

• reductions in hospitality, mayor-making and out of pocket expenses budgets;
• the introduction of a £400 budget for work commissioned from the Council’s Corporate Communications team;
• increased recharges for staff support, insurance, IT, accountancy and internal audit;
• a £5,000 budget to support the forthcoming anniversary of D-Day;
• an increased budget of £2,000 to support the Mayor’s Awards.

Reserves at 31 March 2025 were forecasted to be £75,840, following a proposed draw-down of £23,645 in 2024/25. The council tax base was confirmed to have increased by 457 Band D properties. The Band D council tax charge was proposed to be frozen at the 2023/24 figure of £2.27 per annum.

Some Trustees raised concerns over the level of reserves and staffing costs in light of a public cost of living crisis and suggested that better value for money could be achieved through increased use of reserves and a reduction in the council tax precept.

In response, officers advised that the budget proposed more accurately reflected the true cost of providing services to Trustees. 70% of charges incurred by the Trustees were fixed from the Council and costs would likely increase should Trustees forward without Council support. Staff charges included the most recent pay award together with overhead apportionment from the Council.

Using reserves to reduce the council tax precept was not sustainable. Reserves were expected to decrease across future years, which in turn would likely result in a required increase to the Band D charge.

Trustees were advised that the Council administration was exploring options for changes to the governance of the Charter Trustees, such as setting up the Charter Trustees as a Parish Council.

The recommendations were put to a vote: For: 13, Against: 1, Abstention: 6.

The vote was carried and it was:

RESOLVED: that

1. The proposed budget for 2024/25 as set out in Appendix A be approved;

The council tax requirement and precept of £148,091 be approved.