Agenda item

RESOLVED TO RECOMMEND

Cabinet recommends Councilto:

General Fund Revenue Estimate

1. Set a Dacorum Borough Council General Fund Council Tax requirement of £13.821m, and a provisional amount of £15.144m for the combined Borough Council and Parish Councils’ requirement for 2024/25;

2. Approve a Band D Council Tax increase of £6.66 (2.99%) for Dacorum Borough Council;

3. Approve the base estimates for 2024/25, as shown in Appendix A1, and the indicative budget forecasts for 2024/25 – 2027/28, as shown in Appendix A2;

4. Approve the forecast balances of Revenue Reserves as shown in Appendix J, and approve section 10 of this report as the updated Reserves Strategy;

5. Approve increases in Fees and Charges for 2024/25 as set out in Appendices C3, D3, and E3;

6. Approve and adopt the Treasury Management Strategy for 2024/25, attached at Appendix K;

7. Approve and adopt the Capital Strategy for 2024/25, attached at Appendix L;

8. Note that this budget paper, if approved by Council, will form part of the Medium Term Financial Strategy.

Capital Programme

9. Approve the Capital Programme for 2024/25 to 2028/29, as detailed in Appendix I;

10. Approve the financing proposals in Appendix I subject to an annual review of the financing options by the Chief Finance Officer, in consultation with the Portfolio Holder for Finance and Resources, during the preparation of the Statement of Accounts.

Housing Revenue Account (HRA)

11. Set dwelling rents according to DLUHC guidance, which provides for a rent increase of CPI plus 1% which equates to 7.7%. The average dwelling rent is proposed to be £127.73 per week in 2024/25 (based on 52 weeks);

12. Approve the HRA budget for 2024/25 as shown in Appendix F

Employer Terms and Conditions

13. Note that the hourly rate of all Council employees continues to exceed the rate proposed by the rates of the Living Wage Foundation, for 2024/25 (to be reviewed annually thereafter).

Statement by Chief Finance Officer

14. Approve the statement by the Chief Finance Officer regarding the robustness of the budget estimates and level of reserves as set out in Appendix M.

Decision

RESOLVED TO RECOMMEND

Cabinet recommends Councilto:

General Fund Revenue Estimate

1. Set a Dacorum Borough Council General Fund Council Tax requirement of £13.821m, and a provisional amount of £15.144m for the combined Borough Council and Parish Councils’ requirement for 2024/25;

2. Approve a Band D Council Tax increase of £6.66 (2.99%) for Dacorum Borough Council;

3. Approve the base estimates for 2024/25, as shown in Appendix A1, and the indicative budget forecasts for 2024/25 – 2027/28, as shown in Appendix A2;

4. Approve the forecast balances of Revenue Reserves as shown in Appendix J, and approve section 10 of this report as the updated Reserves Strategy;

5. Approve increases in Fees and Charges for 2024/25 as set out in Appendices C3, D3, and E3;

6. Approve and adopt the Treasury Management Strategy for 2024/25, attached at Appendix K;

7. Approve and adopt the Capital Strategy for 2024/25, attached at Appendix L;

8. Note that this budget paper, if approved by Council, will form part of the Medium Term Financial Strategy.

Capital Programme

9. Approve the Capital Programme for 2024/25 to 2028/29, as detailed in Appendix I;

10. Approve the financing proposals in Appendix I subject to an annual review of the financing options by the Chief Finance Officer, in consultation with the Portfolio Holder for Finance and Resources, during the preparation of the Statement of Accounts.

Housing Revenue Account (HRA)

11. Set dwelling rents according to DLUHC guidance, which provides for a rent increase of CPI plus 1% which equates to 7.7%. The average dwelling rent is proposed to be £127.73 per week in 2024/25 (based on 52 weeks);

12. Approve the HRA budget for 2024/25 as shown in Appendix F

Employer Terms and Conditions

13. Note that the hourly rate of all Council employees continues to exceed the rate proposed by the rates of the Living Wage Foundation, for 2024/25 (to be reviewed annually thereafter).

Statement by Chief Finance Officer

14. Approve the statement by the Chief Finance Officer regarding the robustness of the budget estimates and level of reserves as set out in Appendix M.

Advice

Recommendation agreed

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