Issue - meetings

Report of the Cabinet Member Finance and Assets

RESOLVED THAT:

1.     the budget setting timetable at Appendix 2 and outlined in Section 5 of the report be approved.

2.     the outline budget strategy outlined in Section 6 of the report be approved.

3.     Note the pressures in addition to the £2.834m overspend reported to Cabinet on 13 September 2022 and the large amount of work which will be required to close this gap.

4.     the intention for this council to remain in the Gloucestershire Business Rates Pool in 2023-24 be noted as outlined in Section 7 of the report.

5.     the Section 151 Officer, Deputy Section 151 Officer and the Cabinet Member for Finance and Assets be requested to consider suggestions from the Budget Scrutiny Working Group in preparing the interim budget proposals for 2023-24.

The Cabinet Member for Finance and Assets confirmed that the budget setting process and timetable needed to be agreed as part of the financial regulations set out in the constitution, and showed the extent of the work, allowing for maximum transparency.  In these unprecedented and turbulent economic times, the current predicted overspend for the current financial year was £2.834m, as previously reported, and this was reflected in the assumptions made in preparing the interim budget proposals.  Cheltenham’s sound financial record and a lot of hard work from dedicated officers will culminate in the drafting of the interim budget, but residents, protected valued services and, together with partners, providing whatever support we can to those in need, will be the main consideration.

The Leader thanked the Cabinet Member and moved to the vote where it was unanimously:

RESOLVED THAT:

1.    the budget setting timetable at Appendix 2 and outlined in Section 5 of the report be approved;

2.    the outline budget strategy outlined in Section 6 of the report be approved;

3.    Note the pressures in addition to the £2.834m overspend reported to Cabinet on 13 September 2022 and the large amount of work which will be required to close this gap;

4.    the intention for this council to remain in the Gloucestershire Business Rates Pool in 2023-24 be noted as outlined in Section 7 of the report;

5.    the Section 151 Officer, Deputy Section 151 Officer and the Cabinet Member for Finance and Assets be requested to consider suggestions from the Budget Scrutiny Working Group in preparing the interim budget proposals for 2023-24.