The Cabinet Member for Communities, Leisure and Arts introduced the report, and referenced the all-Member briefing held in August 2023 on the Medium Term Financial Strategy (MTFS) and Budget Proposals for 2024/25 to 2028/29. The budget gap for 2024/25 was around £900,000, with savings identified to reach a balanced budget, which included £40,000 in savings relating to the Committee’s remit. The budget gap would increase substantially in future years, with more challenging work to be completed to identify savings at that point.

The Cabinet Member stated that the two assumptions in drafting the MTFS and budget proposals were that Council Tax would increase by the referendum limit of 3%, and that fees and charges would increase by 5% overall, in line with the increased cost of services, rather than individually. The recommended fees and charges would be presented to all Policy Advisory Committees in Autumn 2023.

In response to a question, the Director of Finance, Resources and Business Improvement stated that the Council would seek to charge for its printing services in accordance with the market rate and recover any direct costs and overheads. The Council already provided printing services for other authorities, and there was scope for increasing external custom.

The Committee expressed support for the proposed MTFS and budget proposals, and thanked the Cabinet Member and Finance officers for the work undertaken, including the all-Member briefing provided.

RESOLVED to RECOMMEND to the CABINET: That

1.  The Medium Term Financial Strategy for 2024/25 to 2028/29, as set out in Appendix A to the report, be approved; and

2.  The budget proposals, as set out in Appendix B to the report, be approved.