Decision details

Further to Minute No. 47, 18 September 2024, which presented the Council’s Medium Term Financial Strategy for the period 2025/26 – 2029/30, the Interim Assistant Chief Executive – Finance, Traded and Resources submitted a report providing details of a first tranche of savings proposals to contribute to closing the Council’s projected revenue budget gap over the next three financial year period and to meet the statutory requirement to achieve a balanced budget for 2025/26. The report noted that ‘savings proposals’ was a collective term used in this context to apply to reductions in expenditure and increases in income.

In presenting the report, the Executive Member highlighted that the submitted report presented the initial revenue savings proposals for the Board’s consideration, totalling £37.4m. It was noted that subsequent reports would be submitted to the November and December 2024 Board meetings presenting further savings proposals.

Responding to a Member’s enquiry, the Board received further information regarding potential implications should National Insurance Contributions be increased in the future. Also, it was confirmed that whilst the current financial monitoring position assumed a pay settlement of 3.5% for 2024/25, every 1% in addition to that equated to approximately £4.3m cost to the Council.

RESOLVED –

(a)  That the ‘Business as Usual’ savings presented in the submitted report be noted, and that decisions to give effect to them shall be taken by the relevant Director or Chief Officer in accordance with the Officer Delegation Scheme (Executive functions);

(b)  That the Board’s agreement be given for consultation to commence, where required, with regard to the ‘Service Review’ savings proposals detailed within the submitted report, and that it be noted that decisions to give effect to them shall be taken by the relevant Director or Chief Officer following any consultation period, in accordance with the Officer Delegation Scheme (Executive functions) and decision-making framework, save where the Leader or the relevant Portfolio Holder has directed, or the Director considers that the matter should be referred to Executive Board for consideration;

(c)  That it be noted that additional savings proposals will be brought to Executive Board for consideration at its meetings on 20th November 2024 and 11th December 2024;

(d)  That it be noted that further savings will be required to close the Council’s estimated budget gaps in the years 2026/27 and 2027/28, and that proposals on such matters will be brought to future meetings of Executive Board.

(Under the provisions of Council Procedure Rule 16.5, Councillor A Lamb required it to be recorded that he abstained from voting on the decisions referred to within this minute)