Issue - meetings

This report informs the Committee of the Council’s revenue budget targets presented to the Strategy & Resources Committee in July.  The report seeks guidance on the preparation of the Committee’s service estimates for 2024/25.

The Committee received a report informing them of the Council’s revenue budget targets presented to the Strategy & Resources Committee in July 2023 and seeking guidance on the preparation of the Committee’s service estimates for 2024/25.

Following consideration, the Committee unanimously resolved to:

(1)      Note the implications of the budget targets presented to Strategy & Resources Committee on 13 July 2023.

(2)      Support the changes to services and savings previously identified in Table 1 of this report and that these are included within the budget presented to this Committee in January 2024.

(3)      Consider how additional income or savings can be generated to address the projected Council wide funding gap of £1.1m in 2024/25, rising to £2.5m by 2027/28.

(4)      Note that owing to the Council’s projected budget deficit, any additional new revenue growth items (i.e. service enhancements resulting in increased net expenditure) supported by Policy Committees will need to be fully funded from existing budgets.

The Committee received a report informing them of the Council’s revenue budget targets presented to the Strategy & Resources Committee in July 2023 and seeking guidance on the preparation of the Committee’s service estimates for 2024/25.

The following matters were considered by the Committee:

a)            6% Increase Target. The Senior Accountant explained that the target to increase fees and charges income by 6%, as set out at 3.2.7 of the report, had been reached in consultation with the Heads of Services, who had considered the potential adverse impact of the increase to the volume of the relevant service and venue usage.

Following consideration, the Committee unanimously resolved to:

(1)      Note the implications of the budget targets presented to Strategy & Resources Committee on 13 July 2023.

(2)      Support the changes to services and savings previously identified in Table 1 of this report and that these are included within the budget presented to this Committee in January 2024.

(3)      Consider how additional income or savings can be generated to address the projected Council wide funding gap of £1.1m in 2024/25, rising to £2.5m by 2027/28.

(4)      Note that owing to the Council’s projected budget deficit, any additional new revenue growth items (i.e. service enhancements resulting in increased net expenditure) supported by Policy Committees will need to be fully funded from existing budgets.