Agenda item

RECOMMENDED that the Executive, in recommending to Council a budget and Council Tax level for 2024/25:

 i.                  Agrees the provision for inflation of £4.507m (section8.2);

ii.         Approves a further council tax discount funded by Bracknell Forest Council in 2024/25 of £75 for working age households receiving council tax support as summarised in paragraph 8.3.1a);

iii.         Confirms its support for the draft budget proposals as set out in the report presented to the Executive’s meeting in December 2023, subject to the revisions in section 8.3.1b) to 8.3.1k) and those decisions to be taken elsewhere on this agenda on the capital programme;

iv.         Agrees the additional budget proposals as set out in Annexe A and Annexe D and in sections 6.2 (Revenue Support Grant), 6.3 (specific grants), 6.4 (business rates), 7.3 (collection fund) , 8.2 (inflation) and 8.3 (updated pressures & savings);

v.         Agrees that the additional grant funding received in the Final Local Government Finance Settlement announced on 5 February 2024 be allocated to social care services (£0.754m in Social Care Grant) and to Special Educational Needs and Disabilities services (£0.268m in Funding Guarantee and £0.010m in Services Grant) with no net budget impact;

vi.         Agrees that the Executive Member for Children, Young People and Learning approves the detailed budget allocations for High Needs pupils and Early Years provisions, up to the estimated level of available resources;

vii.         Includes a general contingency totalling £4.000m (section 10.7) use of which is to be authorised by the Chief Executive in consultation with the Executive Director: Resources in accordance with the delegations included in the Council’s constitution;

viii.         Approves the proposed Net Revenue Budget including the contribution of £1.509m from the Future Funding Reserve (including £0.038m additional interest from the use of balances) to support revenue expenditure, as set out in Annexe G;

ix.         Recommends a 4.99% increase in the Council Tax for the Council’s services and that the Council Tax requirement, excluding Parish and Town Council precepts, be set as £80.312m;

x.         Recommends that the Council Tax for the Council’s services and that each Valuation Band is set as follows:

xi.         Recommends that the Council approves the following indicators, limits, strategies and policies included in Annexe E:

·     The Prudential Indicatorsand Limitsfor 2024/25to 2026/27contained within AnnexeE(i);

·     The Minimum Revenue Provision (MRP) Policy contained within Annexe E(ii);

·     The Treasury Management Strategy Statement, and the Treasury Prudential Indicators contained in AnnexeE(iii);

·     The Authorised Limit Prudential Indicator in AnnexeE(iii);

·     The Investment Strategy 2024/25 to 2026/27 and Treasury Management Limits on Activity contained in AnnexeE(iv).

xii.         Recommends to Council that the following additional Council Tax premiums be applied from 1 April 2025:

•    A 100% premium for properties which have been empty and unfurnished for longer than one year (rather than 2 years as currently) and;

•    A 100% premium for second homes.

xiii.         Approves the virements relating to the 2023/24 budget as set out in Annexe H and recommends those that are over £0.100m for approval byCouncil.