Issue - meetings

(Mr. P. Bedford CC returned to the meeting).

The Cabinet considered a report of the Director of Corporate Resources presenting the Council’s proposed 2024/25 to 2027/28 Medium Term Financial Strategy (MTFS), following consideration of the draft MTFS by the Cabinet in December 2023 and the Overview and Scrutiny bodies in January and receipt of the provisional Local Government Finance Settlement. A copy of the report, marked ‘Agenda Item 4’, is filed with these minutes.

Minutes of the Overview and Scrutiny bodies which had considered the MTFS at their meetings in January (Appendix Q to the report) were circulated separately and are also filed with these minutes.

With the permission of the Chairman, Mr. J. T. Orson CC (local member for Melton Wolds) spoke regarding the planned saving to the Recycling and Household Waste Site (RHWS) service and asked that closure of Somerby RHWS was reconsidered.

Mr. Breckon CC noted that the Council had received a small amount of additional funding and thanked local MPs. Other members agreed with Mr. Breckon on the necessity for savings to be made and the value of consultation feedback in helping to inform the proposals.

RESOLVED:

(i)        That the comments of the Overview and Scrutiny Committees and the Scrutiny Commission be noted;

(ii)       That the following be recommended to the County Council:

a)    That subject to the items below, approval be given to the Medium Term Financial Strategy (MTFS) which incorporates the recommended revenue budget for 2024/25 totalling £567.6m as set out in Appendices A, B and E of the report and includes the growth and savings for that year as set out in Appendix C;

b)    That approval be given to the projected provisional revenue budgets for 2025/26, 2026/27 and 2027/28, set out in Appendix B to the report, including the growth and savings for those years as set out in Appendix C, allowing the undertaking of preliminary work, including business case development, engagement and equality and human rights impact assessments, as may be necessary to achieve the savings specified for those years including savings under development, set out in Appendix D;

c)    That approval be given to the early achievement of savings that are included in the MTFS, as may be necessary, along with associated investment costs, subject to the Director of Corporate Resources agreeing to funding being available;

d)    That the level of the general fund and earmarked reserves as set out in Appendix K be noted and the use of those earmarked reserves as indicated in that appendix be approved;

e)    That the amounts of the County Council's Council Tax for each band of dwelling and the precept payable by each billing authority for 2024/25 be as set out in Appendix M (including 2% for the adult social care precept);

f)     That the Chief Executive be authorised to issue the necessary precepts to billing authorities in accordance with the budget requirement above and the tax base notified by the District Councils, and to take any other action which may be necessary to give effect to the precepts;

g)    That approval be given to the 2024/25 to 2027/28 capital programme, totalling £447m, as set out in Appendix F;

h)    That the Director of Corporate Resources, following consultation with the Lead Member for Resources, be authorised to approve new capital schemes, including revenue costs associated with their delivery, shown as future developments in the capital programme, to be funded from funding available;

i)     That the financial indicators required under the Prudential Code included in Appendix N, Annex 2 be noted and that the following limits be approved:

j)     That the Director of  ...  view the full minutes text for item 318