77 2023/24 EMERGING BUDGET & MEDIUM FINANCIAL STRATEGY PDF 878 KB
RECOMMENDATION
Note the emerging Medium Term Financial
Strategy and to recognise its challenges in preparation of the main
budget setting process.
Minutes:
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 17th 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.