Agenda and minutes

There were no declarations of interest.

The Chair advised that the meeting was being recorded and live streamed from Castle House.

The Committee considered the report of the Business Manager – Financial Services which provided Members with details of: the spending proposals in the Council’s proposed 2025/2026 General Fund Revenue Budget; the Council’s Medium Term Financial Plan (MTFP) for the four financial years between 1 April 2024 and 31 March 2028; and the Capital Programme.  The information was provided in 3 appendices to the report and was to be considered by Cabinet at their meeting to be held on 18 February 2025 with recommendations being forwarded to full Council for consideration at the meeting scheduled for 6 March 2024.

In presenting the report the Business Manager advised that the report recommendations, as written, had been amended to include that any suggestions made by the Committee would be forwarded to the meeting of Cabinet for consideration.

General Fund Revenue Budget: It was reported that the budget proposals had been prepared in accordance with the Council’s budget setting strategy for 2025/26, as approved by Cabinet on 24 September 2024.  Accordingly, the budget had been derived from the 2025/26 base budget within the MTFP approved by full Council on 7 March 2024.  Growth and efficiencies had been included based on engagement with Portfolio Holders throughout the budget setting process.  Changes, as described in the Budget Strategy in relation to pay awards and inflation had also amended the base position.

Medium Term Financial Plan: It was reported that the Council’s MTFP for four financial years between 1 April 2024 and 31 March 2028 had been approved by full Council on 7 March 2024.  The report sought to update the MTFP’s assumptions on expenditure, income and financing for the four years between 2025/2026 and 2028/2029.  The main aims of MTFP were to: deliver the Council’s Community Plan objectives over the life of the relevant Community Plan; clearly present the Council’s current predictions of its financial position between 2025/2026 and 2028/2029; and enable Members to make decisions which ensure the Council’s future financial sustainability. 

Capital Programme Budget 2026/2026 to 2028/2028: It was reported that the Capital Strategy had been approved by Council on 7 March 2024 and contained the capital appraisal form template and the prioritisation criteria.  The capital appraisal forms were circulated to Business Managers to enable bids for new capital schemes.  These were then scored in conjunction with the prioritisation criteria with the results considered by the Senior Leadership Team together with the proposed Capital Programme.  Details of the capital expenditure in relation to the general fund were included in the report, together with the resources available.  Paragraph 4 of the report set out the current plan for financing the proposed capital programme.

In response to queries raised by Members, the Business Manager provided further information in relation to: increases in National Insurance contributions; pay awards; inflation on insurance and utilities; notional savings; and increases to car parking charges.

AGREED     (unanimously) that the Policy & Performance Committee note the report and appendices.