Decision details

To consider and approve:

·         the revised General Fund Budget and Capital Programme for 2024/25, and

to consider and recommend to Council:

·         the General Fund Budget Estimates 2025/26 and the Medium-Term Financial Strategy 2025/26 to 2029/30

·         the Council Tax levels for 2025/26

·         the Capital Programme 2025/26-2027/28, and

·         the Treasury Management Strategy Statement, Capital Strategy and Annual Treasury Investment Strategy for 2025/26.

AGREED that:

(i)            the revised estimates for 2024/25 as set out in Section 8 and Appendix A showing an estimated shortfall of £350k (to be funded from the Budget Equalisation Reserve if required), be approved.

and to recommend to Council that:

(ii)          the General Fund revenue budget for 2025/26 as set out in Section 9 and Appendix A be approved.

(iii)         the Medium-Term Financial Strategy as outlined in this report and Appendix B be adopted.

(iv)         the Capital Programme and funding statement as set out in Appendix D be approved.

(v)          the adoption of the additional Business Rates Relief measures as detailed in Section 7 using Discretionary Relief Powers be approved.

(vi)         the expenses detailed in Section 12 be approved to be treated as general expenses for 2025/26.

(vii)        the Port Health levy for 2025/26 be set as shown in Section 13.

(viii)       the current working age Council Tax Support Scheme be adopted with effect from 1 April 2025 as set out in Section 15, with appropriate changes to the prescribed pensioner scheme as determined by regulations.

(ix)         the Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement (including amending the MRP calculation to be based on the ‘Annuity method’ from 2024/25 onwards), Treasury Investment Strategy, Prudential and Treasury Indicators for 2025/26 and Capital Strategy 2025/26 as set out in Section 16 and Appendix E be approved.

(x)          the Band D Council Tax level for Fenland District Council Services for 2025/26 be set at £254.79, no change on the current year.