Agenda item

Report; Progress on the 2024/25 Budget and MTFS Update

The Cabinet agreed to the recommendations in the report:

1.     Cabinet agreed that we proceed with consultation on the £11.9m of budget savings proposals set out in section 4.7 of this report and appendix A.

2.     Cabinet noted that that despite the £11.9m of proposals put forward, there is still a residual budget gap of £12.0m and that Officers will be putting additional proposals forward for further consideration and decision in due course.

3.     Cabinet agreed for Officers to engage with the Department of Levelling Up and Communities to formally request a Capitalisation Directive which will only be drawn down in the event the Council is unable to set a legally balanced budget for 24/25.

4.     Cabinet noted the actions the Council is taking to control in-year spending.

5.     Cabinet agreed the Consultation approach set out in Section 6 of this report.                                                                                                                                                                                                                       

Report: Progress on the 2024/25 Budget and MTFS Update

An overview of the Budget report was presented by the Leader of the Council, Cllr Ray Morgon, with a call to all parties to work together and thanked the opposition leaders for their support in these difficult times.

Cllr Wilkins, Cabinet Member for Finance, stated that the report sets out the actions the Council is taking in order to control spending and mitigate the pressures the Council is facing in 2023/24. The report also sets out proposals to close the 2024/25 budget gap. These proposals will be consulted on before final decisions are taken in the new year on the 2024/25 budget

The Cabinet agreed to the recommendations in the report:

1.     Cabinet agreed that we proceed with consultation on the £11.9m of budget savings proposals set out in section 4.7 of this report and appendix A.

2.     Cabinet noted that that despite the £11.9m of proposals put forward, there is still a residual budget gap of £12.0m and that Officers will be putting additional proposals forward for further consideration and decision in due course.

3.     Cabinet agreed for Officers to engage with the Department of Levelling Up and Communities to formally request a Capitalisation Directive which will only be drawn down in the event the Council is unable to set a legally balanced budget for 24/25.

4.     Cabinet noted the actions the Council is taking to control in-year spending.

5.     Cabinet agreed the Consultation approach set out in Section 6 of the report.