Agenda item

This report seeks approval for the District Council’s and Revenue Budget for 2024/25 and updated Medium Term Financial Plan.

The Director of Resources introduced a report seeking approval for the District Council’s Revenue Budget for 2024/25 and updated Medium Term Financial Plan.

The revenue spending proposals for all the Council’s services and activities, together with a budget summary, were given in Appendices 1 and 2 to the report. The forecasts of revenue spending requirements included both the revenue financing costs and running/operating expenditure associated with the Capital Programme.

In addition to considering the spending proposals for the forthcoming year, the financial management Code produced by CIPFA required the preparation of a Medium-Term Financial Plan. This showed the known changes in financial commitments for future years, in order that the implications for future spending requirements were identified in advance and included in the strategic planning process. An updated Medium Term Financial Plan was provided in Appendix 4.

The report also covered the following topics:

•           Local Government Finance Settlement for 2024/25

•           Net spending and Council tax requirement

•           Council Tax

•           Medium-Term Financial Plan

•           Reserves and Balances

•           Savings

•           Chief Finance Officer’s Statutory Report

•           Financial Management Code

•           Town and Parish Council Precepts

•           Pay Policy Statement

It was moved by Councillor Steve Flitter, seconded by Councillor Peter Slack and

RESOLVED (unanimously)

1.    That the level of the Derbyshire Dales District Council’s Council Tax (excluding parish requirements) for 2024/25 set at £236.98 for Band D, being an increase of £6.88 per band D (2.99%) from the 2023/24 level.

2.    That the estimated net revenue expenditure for 2024/25 totalling £13,750,161, as detailed in the Summary Revenue Account in Appendix 1, be approved.

3.    That approval be given to the transfer of £400,000 from the General Reserve to increase the level of uncommitted working balances from £1m to £1.4m at 31st March 2024.

4.    That approval be given to the transfer of the balance of £508,406 from the Funding Uncertainties Reserve to the Corporate Plan Priority Reserve at 31st March 2024.

5.    The net sum of £439,628 be transferred from strategic reserves in 2024/25, as shown in Appendix 1 and detailed in Appendix 5.

6.    The following amounts are calculated by the Council for the chargeable financial year 2024/25 in accordance with Section 31A of the Local Government Finance Act 1992:-

i.              aggregate of the amounts which the Council estimates for the items set out in Section 31A(2)(a) to (f) thereof is £35,453,949;

ii.             aggregate of the amounts which the Council estimates for the items set out in Section 31A(3)(a) to (d) thereof is £26,075,635

iii.            calculation under Section 31A(4) being the amount of which the aggregate at (i) above exceeds the aggregate of (ii) above, as the Council Tax Requirement for 2024/25 is £9,378,314;

7.    That the updated Medium Term Financial Plan, shown in Appendix 4, be approved.

8.    That the Director of Resources’ report on the robustness of the budget and the adequacy of reserves in accordance with clause 25 of the Local Government Act 2003 be noted. 

9.    That Council adopts the Pay Policy Statement for 2024/25, set out in Appendix 9 to this report.

Statutory legislation required a recorded vote in respect of the Revenue Budget in accordance with rule of procedure 19e.

The recorded vote was as follows:

For: 28, Councillors: Robert Archer, Anthony Bates, John Bointon, Geoff Bond, Kelda Boothroyd, Sue Bull, Martin Burfoot, Sue Burfoot, Bob Butcher, Neil Buttle, David Chapman, Peter Dobbs, Nigel Edwards-Walker, Steve Flitter, Marilyn Franks, Gareth Gee, Dawn Greatorex, Susan Hobson, David Hughes, Stuart Lees, Joanne Linthwaite, Laura Mellstrom, Lucy Peacock, Simon Ripton, Roger Shelley, Peter Slack, Steve Wain and Nick Wilton.

Against: 0, Councillors:

Abstentions: 0, Councillors:

The Chair declared the motion CARRIED.