Decision status: Recommmend Forward to Council
Is Key decision?: No
Is subject to call in?: No
Cabinet considered and reviewed the report and appendices as presented and recommended to Full Council the adoption of:
General Fund (GF): Revenue
a) The updated Medium Term Financial Strategy forecasts as shown in Appendix A.
b) The General Fund revenue budget for 2025/26, as shown in the GF detailed budget at Appendix C and summarised at Appendix B, considering the statement by the Chief Finance Officer on the risks and robustness of the estimates as required under Section 25 of the Local Government Act 2003, reproduced at Appendix G.
c) Acknowledge the key factors which have led to the proposed 2025/26 General Fund Revenue Budget, with service budget proposals and savings summarised at Appendix D and efficiency savings and income generation (outcome of budget star chamber meetings) summarised at Appendix E.
d) The Council Tax Requirement for 2025/26 at £12,255,340 and approve an increase in the district element of the Council Tax of £5.09 per annum, giving an average Band D Council Tax of £175.40, plus the relevant amounts required by the precepts of the Parish Councils, Cambridgeshire County Council, Cambridgeshire Police & Crime Commissioner, and the Cambridgeshire Fire Authority.
e) The estimates of the amounts required to be made under the Non-domestic Rating (Rates Retention) Regulations 2013 as set out in paragraphs 47 - 58.
f) The use of the additional income from the Business Rate Pool, estimated at £1,700,000 in 2025/26, for transfer to the established Renewables Reserve for priority projects.
GF: Review of Reserves
g) Note the movement in Reserves in 2024/25 as set out in Appendix H, and the estimated balance of Reserves of £31.390 million.
GF: Capital
h) The General Fund Capital Programme as shown in Appendix I.
Report author: Farzana Ahmed, Peter Maddock
Publication date: 04/02/2025
Date of decision: 04/02/2025
Decided at meeting: 04/02/2025 - Cabinet
Accompanying Documents: