Issue - meetings

Report from the Strategic Director of Finance and Customer Services.

Recommendations:

That Cabinet recommend to Council:

1.    Approval of the Budget and Financial Strategy for 2025/26 as set out in the report and appendices, including a basic Council Tax increase of 1% and an Adult Social Care precept of 2%.  ...  view the full agenda text for item 121

Consideration was given to the report submitted which proposed the Council’s Budget and Council Tax for 2025/26, based on the Council’s Provisional Local Government Finance Settlement for 2025/26, budget consultation and the consideration of Directorate budget proposals. A review of the financial planning assumptions within the Medium Term Financial Strategy  ...  view the full minutes text for item 121

Report from the Strategic Director of Finance and Customer Services.

Recommendations:

That Cabinet recommend to Council:

1.    Approval of the Budget and Financial Strategy for 2025/26 as set out in the report and appendices, including a basic Council Tax increase of 1% and an Adult Social Care precept of 2%.

2.    Approval of the extension to the Local Council Tax Support Top Up scheme, that will provide up to £126.12 of additional support to low income households accessing the Council’s Council Tax Support scheme. It will support the most  financially vulnerable to rising household costs, through reduced Council Tax bills as described in Section 2.5.15.

3.    Approve the proposed changes to the Local Council Tax Support scheme as set out at 2.5.10 and proposed changes to Council Tax Premiums as set out in Section 2.5.19.

4.    Approval of the updated Medium Term Financial Strategy (MTFS) to 2027/28, as described within Section 2.6.

5.    Approval of the Reserves Strategy as set out in Section 2.8 noting that the final determination of Reserves will be approved as part of reporting the financial outturn for 2024/25.

6.    To note and accept the comments and advice of the Strategic Director of Finance and Customer Services (Section 151 Officer), provided in compliance with Section 25 of the Local Government Act 2003, as to the robustness of the estimates included in the Budget and the adequacy of reserves for which the Budget provides as set out in Section 2.14.

7.    To note the feedback from the public and partners following the public consultation on the Council’s budget for 2025/26 which took place from 18 November 2024 to 10 January 2025, attached as Appendix 5.

8.    Approval of the proposed increases in Adult Social Care provider contracts and for Personal Assistants as set out in Section 2.4.

9.    Approval of the proposed approach and increases in Childrens Social Care costs as set out in Section 2.4.25.

10. Approval of the revenue investment proposals set out in Section 2.7 and Appendix 2.

11. Approval of the proposed revenue savings set out in Section 2.7 and Appendix 4.

12. Approval of the Council Fees and Charges for 2025/26 attached as Appendix 7.

13. Application of the Business Rates Reliefs as set out in Section 2.10, in line with Government guidance.

14. Approval of the proposed Capital Strategy and Capital Programme as presented in Section 2.12 and Appendices 3A to 3F.

15. Approval of the Treasury Management matters for 2025/26 as set out in Appendix 9 of this report including the Prudential Indicators, the Minimum Revenue Provision Policy, the Treasury Management Strategy and the Investment Strategy.

16. Approval that any changes resulting from the Final Local Government Finance Settlement 2025/26 be reflected in the Budget and Council Tax Report to Council on 5th March.

17. Continuation of the principles and measures adopted since April 2020 to make faster payments to suppliers on receipt of goods, works and services following a fully reconciled invoice as described in Section 2.11.

18. Approval  ...  view the full agenda text for item 88

Consideration was given to the report introduced by the Cabinet Member for Finance and Safe and Clean Communities which proposed the Council’s Budget and Council Tax for 2025/26, based on the Council’s Provisional Local Government Finance Settlement for 2025/26, budget consultation and the consideration of Directorate budget proposals.

A review of the financial planning assumptions within the Medium-Term Financial Strategy (MTFS) had been undertaken.

The proposed Budget and Medium-Term Financial Strategy reflected the Council’s priorities as set out in the Council Plan 2022-2025 and Year Ahead Delivery Plan. Thedevelopment of the Budget proposals for 2025/26 and the further update of the MTFStook into account prevailing economic factors, supplier market factors, demand and the complexity of care pressures and the lasting impact of periods of high inflation during2023/24.

Following the Council’s technical MTFS updates, proposed budget decisions

within this report and the impact of the Provisional Financial Settlement, the Council had been able to propose a balanced budget for 2025/26 and 2026/27 with a potential £3.2m funding gap in 2027/28.

The Autumn Statement and Policy update, along with the Provisional Financial Settlement, have given the Local Authority sector a much-needed boost in terms of the funding package available. The confirmation of £1.3bn additional grant for the sector was much needed, with £0.68bn towards Adult Social Care (£3.8m for RMBC) and £0.7bn to be provided through the new Recovery Grant allocated on a deprivation basis (meaning £8.7m of new un-ringfenced grant for RMBC). Whilst some smaller grants have been removed to support this £1.3bn national uplift, overall the funding package represented a substantial increase in Local Authority funding. This settlement represented the most significant increase in core funding in the last fifteen years and the Council would be around £14m better off in 2025/26 than was expected a

year ago.

Though the position for Local Authority Funding had shifted positively, the Council remained committed to increasing efficiency and delivering on the priorities of residents.  As such, in order to invest in key priorities, this Budget included Budget savings proposals of £2.6m aimed to increase the efficiency of service delivery and reduce or remove spending on services that were no longer required or can be delivered differently, for example, through maximising grant funding opportunities in Childrens’ Services or route optimisation within Waste Management.

In recognition of escalating cost pressures within Adult Social Care, relating to

increased complexity of care and rising demand for the service, market inflation and transitions, the Council would provide for approximately £17m of additional funding to support the delivery of Adult Social Care services. Further investment of £4.3m would also be provided to address unavoidable cost pressures in complying with Home to School Transport requirements and £1.5m for unavoidable Waste Management costs.

In addition, the Budget would provide some additional investments to help support people and to support with delivering on the Council’s ambitions for the Borough with specific regard to the Council Plan aims of:-

•         People are safe, healthy and  ...  view the full minutes text for item 88