The recommendations in the Supplementary Report in Addenda 4 were approved with 37 votes in favour, 18 abstentions and no votes against.
The Council RESOLVED to:
a. have
regard to the statutory report of the Executive Director of Resources and
Section 151 Officer set out in Amended Section 3.1 in approving recommendations
b to d below;
b. (in
respect of the budget and medium term financial strategy – at Section 4)
approve the following:
(1)
the council tax and precept calculations for
2024/25 [at Cabinet Section 4.3] and in particular:
(i)
a precept of £498,633,415;
(ii)
a council tax for band D equivalent
properties of £1,820.56;
(2)
a budget for 2024/25 [at Amended Cabinet
Section 4.4 which incorporates the changes set out in Labour & Co-operative
Group Section 4.2];
(3)
a medium term financial strategy for 2024/25
to 2026/27 [at Amended Cabinet Section 4.1 (which incorporates changes to the
existing medium term financial strategy as set out in Cabinet Section 4.2 and
amended by Labour & Co-operative Group Section 4.2)];
(4)
the Financial Strategy for 2024/25 [at
Cabinet Section 4.5];
(5)
the Earmarked Reserves and General Balances
Policy Statement 2024/25 [at Amended Cabinet Section 4.6 which incorporates
Labour & Co-operative Group Section 4.6].
This includes:
(i)
the Executive Director of Resources and
Section 151 Officer’s recommended level of General Balances for 2024/25 [at
Amended Cabinet Section 4.6], and
(ii)
the planned level of Earmarked Reserves for
2024/25 to 2026/27 [at Amended Cabinet Section 4.6.1 which incorporates Labour
& Co-operative Group Section 4.6].
c. (in respect of capital – at Section 5)
approve:
(1)
the
Capital & Investment Strategy for 2024/25 to 2033/34 including the
Prudential Indicators and Minimum Revenue Provision Methodology Statement [at
Amended Cabinet Section 5.1 which incorporates Labour & Co-operative Group
Section 5.3];
(2)
a
Capital Programme for 2023/24 to 2033/34 [at Amended Cabinet Section 5.4 which
includes new capital proposals set out in Cabinet’s Section 5.3 which
incorporates Labour & Co-Operative Group Section 5.3].
d. (in
respect of treasury management – at Section 5) approve:
(1)
the
Treasury Management Strategy Statement and Annual Investment Strategy for
2024/25 [at Cabinet Section 5.2] including the Treasury Management Prudential Indicators and the
Specified Investment and Non-Specified Investment Instruments.
(2)
that
any further changes required to the 2024/25 Treasury Management Strategy be
delegated to the Executive
Director of Resources and Section 151 Officer in consultation with the Leader of the Council and the Cabinet Member
for Finance.