Consideration was given to a report of the Cabinet Member for Finance and Corporate / Chief Finance Officer updating on the on the Revenue Budget 2022/23 to 2024/25; and the Council’s Medium Term Financial Strategy.
Consideration has been given to a number of options in putting forward the saving proposals which were included within the submitted report. To do nothing was not considered to be an option as the Council is legally required to set a balanced budget.
1. That the updated Revenue Budget position 2022/23 to 2024/25 be noted.
2. That the update on the Council’s Medium Term Financial Strategy be noted.
3. That it be noted the 2021 Spending Review announcement allows for a further 1% increase in Council Tax by way of an Adult Social Care Precept for 2022/23, which has been included in the latest budget estimate.
Reason for resolution
Cabinet members are required to recommend a balanced 2022/23 Revenue
Budget to Budget Council, and provisional budgets for 2023/24 to 2024/25. The
Council is required to set a balanced budget for 2022/23 by 11th March 2022.