Agenda item

Appendix I (ii) to the report contains exempt information during which the public is likely to be excluded from the meeting subject to determination by the Executive following consideration of a public interest test.  This exclusion would be made under paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972.

 

Recommendations of the Executive, which met on 10 February 2025, are set out in the Budget Setting Report which went to Strategy & Resources Scrutiny Committee also held on 10 February before the meeting of the Executive.

 

The Executive  noted the summary of changes on the General Fund revenue positions which had been highlighted at the Strategy & Resources Scrutiny Committee. 

 

Unless otherwise specified, all references in the recommendations to appendices, pages and sections relating to the Budget-Setting Report which can be found via the Council agenda page:

 

Agenda for Council on Monday, 24th February, 2025, 6.00 pm - Cambridge Council

 

As the meeting immediately followed the meeting of the Strategy and Resources where the Budget-Setting Report had been scrutinised there was no further debate, and the Chair went straight to the vote.

 

The Executive resolved unanimously to:

 

General Fund Revenue Budgets:

a) Recommend to Council for approval the revenue pressures and bids shown in Appendix D(a) and the revenue savings and increased income shown in Appendix D(b).

 

b) Recommend that Council confirms delegation to the Chief Finance Officer of the calculation and determination of the council tax taxbase which is set out at Appendix A(a).

 

c) Recommend that Council approves the increase to the city council share of council tax for 2025/26 at 2.99%, and the updated council tax levels as set out on page 17 of the attached Budget Setting Report 2025/26.

 

Note that the council’s preceptors (Cambridgeshire Police & Crime Commissioner, Cambridgeshire & Peterborough Fire Authority, Cambridgeshire County Council and Cambridgeshire & Peterborough Combined Authority) will meet to confirm their precepts on or before 13 February 2025, following which the formal council tax calculation will be carried out for approval by Council.

d) Recommend that Council delegates authority to the Chief Finance Officer to reallocate budgets between services in relation to corporate and/or departmental restructuring, and any reallocation of support service and central costs in accordance with the CIPFA Service Reporting Code of Practice for Local Authorities (SeRCOP).

 

General Fund Capital Plan:

e) Recommend that Council approves the capital proposals set out at Appendix E(a), the revised capital plan set out at Appendix E(c), and the revised capital funding approach set out on page 28 of the attached Budget Setting Report 2025/26.

 

f) Recommend that Council approves the Capital Strategy 2025/26 attached at Appendix H.

 

General Fund Reserves:

g) Recommend that Council note the impact of budget proposals upon General Fund unallocated reserves, as set out on page 34 of the attached Budget Setting Report 2025/26.

 

h) Recommend that Council note the key risks to the council’s financial sustainability highlighted in the table on pages 30-31 of the attached Budget Setting Report 2025/26.

 

i) Recommend that Council approve in principle a contribution to the Civic Quarter Development Reserve equivalent to the net underspend against budget for the 2024/25 financial year (currently forecast at £4.0 million).

 

j) Recommend that Council approve the transfers to earmarked reserves totalling £6.602 million in 2025/26 as set out on pages 32-33 of the attached Budget Setting Report 2025/26.

 

Section 25 Report:

k) Recommend that Council note the Chief Finance Officer’s Section 25 Report, covering the robustness of estimates and adequacy of reserves, included at section 7 of the attached Budget Setting Report 2025/26.

 

Treasury Management Strategy:

l) Recommend that Council approves the Treasury Management Strategy 2025/26 attached at Appendix G, including the prudential and treasury management indicators set out at Annexe C.

 

m) Recommends that Council approves a change to the maturity structure prudential indicator, such that all new borrowing will have a maturity of at least 5 years (rather than the previous 10 years), as explained at paragraph 3.8 of Appendix G.

 

Other:

n) Recommend that Full Council reconfirm that the incomes below will be disregarded (if above the £10 statutory disregard) when calculating entitlement to housing benefit and/or council tax reduction. These schemes are often called local or modified schemes:

·      War disablement pension

·      War widow, widower or surviving civil partner pension

·      Armed Forces Independence Payment

 

Note that the estimated cost to the council for payments of housing benefit made under the local scheme is £1,777.50 and for council tax reduction less than £50.

 

o) Recommend that Council note the Equality Impact Assessment in Appendix F covering all General Fund budget proposals.

 

p) Recommend that Council note the schedule of proposed fees and charges for 2025/26 in Appendix I(i) and Confidential Appendix I(ii)