Agenda item

Final General Fund Revenue and Capital Budget Proposals 2023-24, and Quarterly Budget Monitoring Report, October-December 2022

Report of the Cabinet Member for Finance and Assets – TO FOLLOW


The Cabinet Member for Finance and Assets introduced the report briefly, noting that Cabinet colleagues will be aware of budget pressures the council has faced throughout the year.  He said the challenge is that budget proposals need to be balanced, and as previously highlighted to Members, due to the extreme economic turmoil and size of the financial gap, the council is having to use every financial tool at its proposal.  The budget report and associated paperwork demonstrate how this is being achieved, at the same time as making sure resources are available to deliver the priorities being achieved for the town.


The Cabinet Member for Economic Development, Culture, Tourism and Wellbeing echoed the comments on the previous item, making the point that while governments were allowed to run deficits for years, local authorities were not, and faced the huge challenge of having the balance their budgets every year.


The Cabinet Member for Safety and Communities asked for confirmation that properties in council tax band D will see an increase of £6.70 a year, 13p a week.  She said this was astonishing in view of everything the council does and congratulated officers for this.


Members then moved to the vote where it was unanimously


RESOLVED THAT:  Council be recommended to:


1.    Approve the revised budget for 2022/23 which is reported here as part of the budget monitoring process for 31 December 2022;


2.    Consider the budget assessment by the Section 151 Officer at Appendix 2 in agreeing the following recommendations;


3.    Approve the final budget proposals including a proposed council tax increase for the services provided by Cheltenham Borough Council for the year 2023/24 based on a Band D property (an increase of 2.99% for a Band D property), as detailed in paragraphs 9.1 to 9.5;


4.    Approve the savings / additional income totalling £1,300,000 and the budget strategy at Appendix 4;


5.    Approve the use of reserves and general balances and note the projected level of reserves, as detailed at Appendix 5;


6.    Approve the capital programme at Appendix 6;


7.    Approve the programmed maintenance programme at Appendix 7;


8.    Approve the flexible use of capital receipts strategy as detailed in Appendix 8;


9.    Note that the Council will remain in the Gloucestershire business rates pool for 2023/24;


10.Approve the Medium Term Financial Strategy (MTFS) detailed in Appendix 9;


11.Approve the Pay Policy Statement for 2023/24, including the continued payment of a living wage supplement at Appendix 10;


12.Approve the proposed fees and charges schedule for 2023/24 at Appendix 11, subject to appropriate consultation where required;


13.Approve a level of supplementary estimate of £100,000 for 2023/24 as outlined in Section 19;


14. Amend the definition of a Key Decision as set out in the constitution to increase the threshold for the acquisition or disposal of land from £250,000 to £500,000, and gives delegated authority to the Monitoring Officer to make the associated change to the constitution as outlined in Section 17.


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