Consideration was given to a report which set out the Chief Finance Officer’s opinion regarding the robustness of the proposed budget and the adequacy of general balances and reserves.

The Chief Finance Officer had concluded that the proposed budgets and associated systems and processes were sound and the level of general balances and reserves were adequate.  It was advised that the proposed estimates and tax setting calculations were robust, reserves were adequate and the provisional Capital Programme was affordable. 

The Leader of the Council moved the recommendations as set out in the report and commended the Director of Corporate Services and her team for their work to ensure the Council had a robust budget in place.

Resolved

1.    That the report be noted and the approach to General Balances, as outlined in the report be endorsed.

2.    That the General Fund Balances for 2023/24 be set at £15 million, noting that the reduction of £2 million be made available to offer targeted support.