Agenda and decisions

Budget, Cabinet - Tuesday, 6 February 2024 10.00 a.m.

Venue: Council Chamber - South Cambs Hall. View directions

Contact: Pippa Turvey  01954 713000 Email: democratic.services@scambs.gov.uk

Media

Items
No. Item

1.

Apologies for Absence

To receive apologies for absence from Cabinet Members. 

2.

Declarations of Interest

To receive declarations of interest from Cabinet Members.

3.

Minutes of Previous Meeting pdf icon PDF 254 KB

To authorise the Chair to sign the minutes of the meeting held on 5 December 2023 as a true and accurate record.

4.

Announcements

5.

Public Questions pdf icon PDF 258 KB

If you would like to ask a question or make a statement, then please refer to the

 

Document called Public Speaking Scheme (Physical Meetings)

 

and contact Democratic Services by no later than 11.59pm on 31 January 2024.

 

6.

Update from Scrutiny and Overview Committee pdf icon PDF 214 KB

7.

Draft 2024-25 Business Plan Action Plan pdf icon PDF 221 KB

Additional documents:

Decision:

Cabinet agreed:

 

a. To submit the Business Plan Action Plan 2024-2025 to Council for approval.

 

b. To authorise the Chief Executive to make any minor wording changes required to final drafts, in consultation with the Leader.

 

8.

Ermine Street Housing - Additional Growth pdf icon PDF 270 KB

Decision:

Cabinet agreed to recommend to Council approval:

 

a. To allow Ermine Street Housing (ESH) additional borrowing from the Council of up to £20 million to take advantage of new investment opportunities where viability assessments provide a positive return with an interest rate of 1% above base rate. This arrangement is to be reviewed annually.

 

b. To allow ESH to purchase single person properties for homeless people to prevent the use of expensive temporary accommodation, using the interest rate applying to ESH (currently 4.25%). This rate recognises the initiative as a ‘spend to save’ investment, providing savings to homelessness budgets.

 

c. To allow the Head of Housing, in consultation with the Lead Cabinet Member for Housing, to authorise individual purchases (and therefore borrowing) up to the value of £2 million as per the current arrangements.

 

d. To note that this proposal is subject to the agreement of the Ermine Street Housing Board.

 

9.

Shire Homes Letting pdf icon PDF 440 KB

Decision:

Cabinet agreed to note the report.

 

10.

Authority Monitoring Report for Greater Cambridge 2022-2023 pdf icon PDF 247 KB

Additional documents:

Decision:

Cabinet:

 

1. Agreed the Cambridge City Council and South Cambridgeshire District Council - Authority Monitoring Report for Greater Cambridge 2022-2023 (included as Appendix A) for publication on the Councils’ websites.

 

2. Delegated any further minor editing changes to the Cambridge City Council and South Cambridgeshire District Council - Authority Monitoring Report for Greater Cambridge 2022-2023 to the Joint Director of Planning and Economic Development, in consultation with the Executive Councillor for Planning Policy and Transport.

 

11.

State of the District - South Cambridgeshire pdf icon PDF 212 KB

Additional documents:

Decision:

Cabinet agreed to:

 

1.    Note the report, and

 

2.    Authorise the Chief Executive to make any minor wording changes required to the final draft, in consultation with the Leader.

 

12.

Capital Strategy pdf icon PDF 181 KB

Additional documents:

Decision:

Cabinet recommended to Full Council the updated Capital Strategy attached at Appendix A to the report which sets the policy framework for the development, management and monitoring of capital investment, including Capital Prudential Indicators.

 

13.

Treasury Management Strategy pdf icon PDF 336 KB

Additional documents:

Decision:

Cabinet recommended to Council the updated Treasury Management Strategy attached at Appendix A to the report which sets the policy framework for the Council’s treasury management activity, including (i) the Treasury Management Policy Statement, (ii) Minimum Revenue Provision Policy and (ii) Treasury Indicators.

 

14.

Review of Revenue Reserves pdf icon PDF 255 KB

Additional documents:

Decision:

Cabinet recommended to Full Council:

 

(a) That the Reserves as summarised at paragraph 12 of the report be released and transferred to the General Reserve or transferred to other reserves as appropriate on 31 March 2024.

 

(b) That the movement in Reserves in 2023/2024 as set out in Appendix A, and the estimated balance of Reserves of £36.132 million, be noted.

15.

Summary General Fund Revenue Budget 2024/2025 pdf icon PDF 366 KB

Additional documents:

Decision:

Cabinet:

 

a) Noted the detailed budgets presented at Appendix B, and summarised at Appendix A, with an estimated General Fund Gross Operating Expenditure for 2024/2025 of £76.731 million, estimated Gross Operating Income of £48.306 million and estimated General Fund Net Operating Expenditure of £28.425 million.

 

b) Acknowledged the key factors which have led to the proposed 2024/2025 General Fund Revenue Budget, with service pressures summarised at Appendix C and offsetting efficiency savings/policy options summarised at Appendix D.

 

c) Acknowledged that the 2024/2025 General Fund Revenue Budget gross expenditure is covered by forecast income sources (assuming no change in Government grant) and, therefore, any addition(s) to expenditure that are made by the Cabinet or Council will need to be met from the General Fund Balance.

 

d) Approved the 2024/2025 General Fund Revenue Budget taking into account 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 F).

 

e) Set the Council Tax Requirement for 2024/2025 at £11,688,650.

 

f) Approved an increase in the District element of the Council Tax of £5 per annum, giving an average Band D Council Tax of £170.31, plus the relevant amounts required by the precepts of the Parish Councils, Cambridgeshire County Council, Cambridgeshire Police & Crime Commissioner, the Cambridgeshire Fire Authority, and the Cambridgeshire and Peterborough Combined Authority Mayor.

 

g) Approved the estimates of the amounts required to be made under the Non-domestic Rating (Rates Retention) Regulations 2013 as set out in paragraphs 38 - 41.

 

h) Approved the use of the additional income from the Business Rate Pool, estimated at £1,100,000 in 2024/2025, for transfer to the established Renewables Reserve for priority projects.

 

i) Recommended to Council that it approves:

 

(i)            The 2024/2025 General Fund Revenue Budget based on known commitments at this time and planned levels of Service/functions resulting in a Budget Requirement of £37.125 million.

(ii)          The District Council Precept on the Collection Fund (Council Tax Requirement) of £11.689 million in 2024/2025 (based on the Provisional Government Settlement) and a Band D Council Tax of £170.31.

 

16.

Capital Programme 2024/25 to 2028/29 pdf icon PDF 269 KB

Additional documents:

Decision:

Cabinet recommended to Full Council the revised General Fund Capital Programme outlined at Appendix A.

 

17.

Housing Revenue Account Revenue and Capital Budget 2024/2025 pdf icon PDF 784 KB

Additional documents:

Decision:

Cabinet:

 

Housing Revenue Account (HRA): Revenue

 

(a) approved the HRA revenue budget for 2024/2025 as shown in the HRA Budget Summary as presented at Appendix A.

 

HRA: Review of Rents and Charges

 

(b) Approved that council dwelling rents for all social rented properties be increased by 7.7%, recognising that inflation measured by the Consumer Price Index (CPI) at September 2023, plus 1% results in an increase of 7.7%.

 

(c) Approved that affordable rents (inclusive of service charge) are also increased by 7.7% in line with the increase for social rents.

 

(d) Approved that rents for affordable shared ownership properties are increased by 7.7% or RPI at January 2024 plus 0.5% whichever is the lower, from April 2024.

 

(e) Approved that garage rents be increased by 7.7% in line with the increase for social rents.

 

(f) Approved the proposed service charges for HRA services and facilities provided to both tenants and leaseholders, as shown in Appendix D.

 

HRA: Capital

 

(g) Approved the required level of funding for new build investment between 2024/2025 and 2028/2029 to ensure that commitments can be met in respect of the investment of all right to buy receipts currently retained or anticipated to be received by the authority for this period. This expenditure will take the form of HRA new build, with the 60% top up met by other HRA resources.

 

(h) Approved the HRA Medium Term Financial Strategy forecasts as shown in Appendix B.

 

(i) Approved the Housing Capital Programme as shown in Appendix C.

 

18.

General Fund Medium Term Financial Plan pdf icon PDF 578 KB

Additional documents:

Decision:

Cabinet:

 

(a) Acknowledged the projected changes in service spending and the overall resources available to the Council over the medium term to 2028/2029.

 

(b) Recommended to Council the updated financial forecast at Appendix A.

 

19.

Localised Council Tax Support Scheme 2024-25 pdf icon PDF 215 KB

Decision:

Cabinet recommended to Council the continuation of the successful 2023/24 LCTS scheme, proposing a reasonable uprating of 6.7% for the upcoming financial year 2024/25.