Issue details

Revenue and Capital Budget 2024/2025

 

 

To approve the Council’s Revenue Budget and Capital Plan Budget for 2024/2025 including the setting of fees and charges for Council services and Capital Strategy.

There are currently a number of unknown elements in respect of Government’s financial settlement including the implications of the Autumn Budget expected in mid November 2023. Therefore, the Council will prepare its budget following the Government’s local government finance settlement announced in December 2023. The Cabinet will launch its draft budget for five weeks consultation at its Cabinet meeting on 9 January 2024, with the final recommendations being considered by Cabinet and Council in February 2024. As the budget proposals will be later for 2024/25 and not be submitted before 8 February 2024, Standing Orders F2.7 to 2.11 will not apply (whereby the Council provides any objections to the Cabinet to review before determining the budget).

Decision type: Key

Reason Key: Revenue Budget variation +£250,000;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 12/10/2023

Decision due: 9 Jan 2024 by Cabinet

Decision due: 13 Feb 2024 by Cabinet

Decision due: 22 Feb 2024 by Council

Lead member: Cabinet Member for Housing and Finance

Lead director: Director of Finance

Contact: Malcolm Coe Email: Malcolm.Coe@torbay.gov.uk.

Consultation process

Reports in relation to the final Revenue Budget will be circulated to the Council’s key stakeholders (in accordance with statute).

The Cabinet will set out draft budget proposals for consultation.

The Leader of the Council will request Cabinet Members and officers to outline the implications for the budget proposals. The Overview and Scrutiny Board and stakeholders will respond to these proposals. The Cabinet will consider these comments before proposing a final budget (including proposals for service change, income generation and efficiencies) which will form part of the Revenue Budget which will be presented to Council in February 2024.

Consultees

Overview and Scrutiny Board, Council and key stakeholders.

If you want to make representations contact:: Malcolm Coe, Director of Finance, Torbay Council, Town Hall, Castle Circus, Torquay, TQ1 3DR, email malcolm.coe@torbay.gov.uk

Decisions

 

Contact Governance Support

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