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 2025/26.

Following consideration, the Committee unanimously resolved to:

(1)       Note the implications of the budget targets presented to Strategy & Resources Committee on 23 July 2024.

(2)       Support the changes to services and savings previously identified in Table 1 of the report and that those are included within the budget presented to this Committee in January 2025.

(3)       Consider how additional income or savings can be generated to address the projected Council wide funding gap of £573,000 in 2025/26, rising to £720,000 per annum by 2028/29.

(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 the Committee of the Council’s revenue budget targets presented to the Strategy & Resources Committee in July. The report sought guidance on the preparation of the Committee’s service estimates for 2025/26.

The Committee considered the following matters:

a)            2023/24 Year-End Review. In response to a question from a Member, the Senior Accountant explained that explorations to identify potential savings opportunities were ongoing.

Following consideration, the Committee unanimously resolved to:

(1)      Note the implications of the budget targets presented to Strategy & Resources Committee on 23 July 2024.

(2)      Support the changes to services and savings previously identified in Table 1 of the report and that those are included within the budget presented to this Committee in January 2025.

(3)      Consider how additional income or savings can be generated to address the projected Council wide funding gap of £573,000 in 2025/26, rising to £720,000 per annum by 2028/29.

(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.