Decision details

The Leader of the Council delegated authority to the Cabinet to make the following decisions:

RESOLVED: To

1.               Note the unaudited closing reserve balance for 2020/21 being brought forward to 2021/22.

2.               Notes that this report now includes a projection for Budget Position in 2024/25 and also notes Budget Gap for Financial Years 2022/23 to 2024/25.

3.               Notes that the Council will not receive any confirmation from MHCLG on its £25m request for Capitalisation Direction for 2022/23 until later in this financial year. The budget gap without any capitalisation direction stands at £63.27m for 2022/23 assuming that proposed savings agreed in March 2021 are agreed of £24million

4.               Note that the Budget for 2022/23 to 2024/25 is projected based on Council Tax growth being 1.99% for general increase and 2% growth in the Council Tax Base. No increases in Business Rate growth assumed. 

5.               Note that a further Budget Update report will be brought to Cabinet in November 2021.