Agenda item

This report fulfils the statutory requirement to agree a budget for 2023/24, comprising both revenue and capital expenditure plans, and to set a council tax for the year.

The Council Tax recommendation as supported by the Financial Policy Panel is for an increase of £6.39 per annum (Band D property), an equivalent increase of 2.99%.

The Council gave consideration to its 2023/24 budget, comprising both revenue and capital expenditure plans and Council Tax amounts for each band of dwelling.  The report took account of the recommendations of the Community & Wellbeing, Environment & Safe Communities, Licensing and Planning Policy and Strategy & Resources Committees (appertaining to fees and charges, the revenue budget and capital programme).

In moving the recommendations of the Chief Finance Officer, the Chair of the Strategy and Resources Committee, Councillor Neil Dallen, made a statement to the Council on the budget for 2023/24 to which Councillors Kate Chinn and David Gulland responded.

Upon being put the motion to agree the recommendations of the report was CARRIED, there being 23 members in favour, 5 against and the Mayor not voting as detailed below.

Accordingly, it was resolved:

(1)            That it be noted that, under delegated powers, the Chief Finance Officer calculated the amount of the Council Tax Base as 33,521.16 (Band ‘D’ equivalent properties) for the year 2023/24, in accordance with the Local Government Finance Act 1992, as amended (the “Act”).

(2)            That the following estimates recommended by the policy committees be approved:-

a.     The revised revenue estimates for the year 2022/23 and the revenue estimates for 2023/24.

b.     The capital programme for 2023/24 and the provisional programme for 2024/25 to 2027/28, as summarised in the capital strategy statement.

(3)            That the fees and charges recommended by the policy committees be approved for 2023/24.

(4)            That the Council Tax Requirement for the Council’s own purposes for 2023/24 is £7,361,247.

(5)            That the Council receives the budget risk assessment at Appendix 6 to the report and notes the conclusion of the Chief Finance Officer that these budget proposals are robust and sustainable as concluded in this report.

(6)            That the Council receives the Chief Finance Officer Statement on the Reserves as attached at Appendix 8 to the report.

(7)            That the Council agrees the Treasury Management Strategy and prudential indicators and authorised limits for 2023/24 as set out in Appendix 11 to the report including:-

a.               Affordability prudential indicators;

b.               The actual and estimated Capital Financing Requirement;

c.               The estimated levels of borrowing and investment;

d.               The authorised and operational limits for external debt;

e.               The liability benchmark;

f.                 The treasury management prudential indicators.

(8)            That the following amounts be calculated for the year 2023/24 in accordance with sections 31 to 36 of the Act:

a.               £55,744,311 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(2) of the Act.

b.               £48,383,064 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(3) of the Act.

c.               £7,361,247 being the amount by which the aggregate at 8(a) above  exceeds the aggregate at 8(b) above, calculated by the Council, in accordance with section 31A(4) of the Act, as its council tax requirement for the year.

d.               £219.60 being the amount at 8(c) above divided by the amount at 1. above, calculated by the Council, in accordance with section 31(B) of the Act, as the basic amount of its council tax for the year.

(9)            To note that Surrey County Council and Surrey Police Authority have issued precepts to the Council in accordance with Section 40 of the Local Government Finance Act 1992 for each category of dwellings in the Council’s area as indicated in the table below:-

SURREY COUNTY COUNCIL

SURREY POLICE AUTHORITY

(10)        That the Council, in accordance with Section 30 to 36 of the Local Government Finance Act 1992, hereby sets the aggregate amounts shown in the tables below as the amounts of council tax for 2023/24 for each of the categories of dwellings.

EPSOM AND EWELL BOROUGH COUNCIL

AGGREGATE OF COUNCIL TAX REQUIREMENTS

2                 That it be noted that, under delegated powers, the Chief Finance Officer calculated the amount of the Council Tax Base as 33,521.16 (Band ‘D’ equivalent properties) for the year 2023/24, in accordance with the Local Government Finance Act 1992, as amended (the “Act”).

3             That the following estimates recommended by the policy committees be approved:-

a.    The revised revenue estimates for the year 2022/23 and the revenue estimates for 2023/24.

b.    The capital programme for 2023/24 and the provisional programme for 2024/25 to 2027/28, as summarised in the capital strategy statement.

4                 That the fees and charges recommended by the policy committees be approved for 2023/24.

5                 That the Council Tax Requirement for the Council’s own purposes for 2023/24 is £7,361,247.

6                 That the Council receives the budget risk assessment at Appendix 6 and notes the conclusion of the Chief Finance Officer that these budget proposals are robust and sustainable as concluded in this report.

7                 That the Council receives the Chief Finance Officer Statement on the Reserves as attached at Appendix 8.

8                 That the Council agrees the Treasury Management Strategy and prudential indicators and authorised limits for 2023/24 as set out in Appendix 11 including:-

g.            Affordability prudential indicators;

h.            The actual and estimated Capital Financing Requirement;

i.             The estimated levels of borrowing and investment;

j.             The authorised and operational limits for external debt;

k.            The liability benchmark;

l.             The treasury management prudential indicators.

9                 That the following amounts be calculated for the year 2023/24 in accordance with sections 31 to 36 of the Act:

e.                £55,744,311 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(2) of the Act.

f.                 £48,383,064 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(3) of the Act.

g.                £7,361,247 being the amount by which the aggregate at 8(a) above  exceeds the aggregate at 8(b) above, calculated by the Council, in accordance with section 31A(4) of the Act, as its council tax requirement for the year.

h.                £219.60 being the amount at 8(c) above divided by the amount at 1. above, calculated by the Council, in accordance with section 31(B) of the Act, as the basic amount of its council tax for the year.

10              To note that Surrey County Council and Surrey Police Authority have issued precepts to the Council in accordance with Section 40 of the Local Government Finance Act 1992 for each category of dwellings in the Council’s area as indicated in the table below:-

SURREY COUNTY COUNCIL

SURREY POLICE AUTHORITY

10    That the Council, in accordance with Section 30 to 36 of the Local Government Finance Act 1992, hereby sets the aggregate amounts shown in the tables below as the amounts of council tax for 2023/24 for each of the categories of dwellings.

EPSOM AND EWELL BOROUGH COUNCIL

AGGREGATE OF COUNCIL TAX REQUIREMENTS