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.