Issue - meetings

RECOMMENDATION

Note the emerging Medium Term Financial Strategy and to recognise its challenges in preparation of the main budget setting process.

Cllr Farmer declared a non-pecuniary interest in this item as Chair of Hart Swimming Club

Councillors were given the background to the 2023/24 emerging budget and noted:

• There was uncertainty at this stage about government funding for local governments this year
• Future inflation rates were also uncertain
• There was no indication whether retained business rates or new homes funding would be rolled forward
• That the January Overview & Scrutiny meeting had been put back to 17^th January to allow final figures to be included in the budget report
• The Council presently had a budget gap that needed to be addressed before the final budget was presented
• Council tax increases for 2023/24 were to be capped at 3%

Councillors discussed

• Income from the leisure centre and potential increases in membership rates
• The budget gap and how this may be addressed
• Whether it was likely that the government funding figures mentioned in the presentation were likely to be over ambitious
• The effect of the 2023 pay increase, and what this was likely to be
• The updated MTFS and options for bridging budget gaps in future years
• The Council’s position in comparison to other local government positions

DECISION

Cabinet noted:

• the emerging Medium Term Financial Strategy and recognised the challenges in preparation of the main budget setting process.