To approve the 2024/25 draft budget for consultation.  This report provides an estimated funding position, based on information known to date, and sets out the key pressures and the savings proposals for each Directorate.

The Council has a statutory responsibility to set a Budget and Council Tax in advance of the commencement of the new financial year. The 2024/25 Revenue Budget and Medium Term Financial Strategy 2024/25 to 2027/28 will be approved by Council in February 2024.

That Cabinet:

a)     approves the 2024/25 draft revenue budget, which includes the key pressures and savings proposals for each Directorate, for consultation with Members, the council’s relevant scrutiny committees, business rate payers and the public; and

b)     acknowledges that until the Local Government Finance Settlement is published in late December 2023, the funding assumed in the draft 2024/25 budget is an estimate of expected funding.

1.                It is open to Council to recommend alternative spending proposals or            strategies; however, given the legal requirement to set a balanced budget, should additional expenditure be proposed compensatory savings proposals             must also be identified. If it is proposed to spend less, the impact on service delivery of the proposed reduction should be considered.

2.           Council can agree a council tax increase above the referendum principle         levels. This is not recommended as doing so would require the increase to be      subject to a local referendum, incurring additional costs to the council