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Issue details

Medium Term Financial Strategy and Budget Proposals 2023/24

To consider the proposed budget for 2023/24.  It brings together revenue and capital budget proposals for 2023/24, including a proposed level of Council Tax, requirement for 2023/24 so that a balanced budget may be approved.


The budget proposals are consistent with the Medium Term Financial Strategy approved by the Executive on 8th February 2023.  The budget proposals have been considered by the Policy Advisory Committees and the Executive.


The budget includes proposed changes by the Executive for inclusion of an additional £400k increase in the budget envelope for pay that will be funded by unringfenced grant in 2023/24.  The ongoing costs will increase the budget gap from 2024/25 onwards and new savings will need to be identified to balance the budget.


The report also seeks approval of the proposed :

·  Capital Programme 2023/24 to 2027/28

·  Council’s level of earmarked reserves and general fund balances.

·  Treasury Management, Investment and Capital Strategies for 2022/23.


Decision type: Key

Reason Key: Expenditure > £250,000;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 16/12/2022

Decision due: 8 Feb 2023 by Executive

Lead director: Director of Finance and Business Improvement

Department: Finance

Contact: Mark Green, Director of Finance, Resources & Business Improvement Email:, Adrian Lovegrove, Head of Finance Email:


Agenda items


  • Medium Term Financial Strategy and Budget Proposals 2023/24