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Details
Business Item
General Fund Budget 2024/25 and Medium Term Financial Strategy (MTFS)
Date of Decision
Tue 2 Jan 2024
Description
Report of the Cabinet Member with responsibility for Resources and Value for Money.
Matter for Decision (to consider...)
This report sets out a further update to the draft Medium Term Financial Strategy (MTFS), taking account of new and revised risks, and presents an initial draft of the Council’s General Fund Budget for 2024/25.
Service Area
Financial Services, Corporate Performance & Risk Management
Service Area 2
Not Applicable
Background Papers:
See attached report.
Is Decision District Wide
Yes
Decision Made
1. That the draft Medium Term Financial Strategy attached as Appendix A to report ES/1791, including the draft 2024/25 General Fund Revenue Budget summarised in Appendix A5 be approved for review and consideration by the Scrutiny Committee as part of the budget process.
2. That an initial proposed Band D Council Tax for East Suffolk Council of £186.57 for 2024/25, an increase of £5.40 or 2.98%, be approved.
Reason for Decision
1. To bring together the relevant information to enable Cabinet to review, consider, and comment upon the Council’s General Fund revenue budgets before making final recommendations to Council on 21 February 2024.
To form the basis of Scrutiny Committee’s review of the Budget at its meeting on 18 January 2024 as required under the Budget and Policy Framework.
Alternative Options Considered and Rejected
The consideration of the MTFS by Members at an early stage of the budget process is essential, especially in order to commence actions to achieve a balanced budget and sustainable medium-term position. Setting a balanced budget for the coming year is a statutory requirement, therefore no other options were considered appropriate.
Any Declarations of Interest Declared
None.
Any Dispensation Granted
None.
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
Aldeburgh and Leiston; Beccles and Worlingham; Bungay and Wainford; Carlford and Fynn Valley; Carlton and Whitton; Carlton Colville; Deben; Eastern Felixstowe; Framlingham; Gunton and St Margarets; Halesworth and Blything; Harbour and Normanston; Kelsale and Yoxford; Kesgrave; Kessingland; Kirkley and Pakefield; Lothingland; Martlesham and Purdis Farm; Melton; Orwell and Villages; Oulton Broad; Rendlesham and Orford; Rushmere St Andrew; Saxmundham; Southwold; Western Felixstowe; Wickham Market; Woodbridge; Wrentham, Wangford and Westleton
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
This Decision does not contain any Overview and Scrutiny records.
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Decision History
| 18/12/2023 15:46:39 | Matt Makin | Business Item Created | |
| 18/12/2023 15:46:39 | Matt Makin | Committee Added | Cabinet |
| 18/12/2023 15:46:39 | Matt Makin | Meeting Added | 02/01/2024 6:30PM |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Aldeburgh and Leiston |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Beccles and Worlingham |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Bungay and Wainford |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Carlford and Fynn Valley |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Carlton and Whitton |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Carlton Colville |
| 18/12/2023 15:47:19 | Matt Makin | Ward Added | Deben |
Approval/Comments
No history found.