Agenda item - General Fund Revenue Budget 2023/24 and Capital Programme

Report of Director of Finance and Performance

Lead Cabinet member: Councillor Stephen Holt

Recommended to Full Council (Budget and policy framework)

(1) The General Fund Budget 2023/24 (original) and projected MTFS as set out at Appendix 1 to the report.

(2) The General Fund Budget 2022/23 (revised) as set out at Appendix 2 to the report.

(3) An increase in the Council Tax for Eastbourne Borough Council of 2.99% (per annum) resulting in a Band D charge for general expenses of £269.68 (per annum) for 2023/24.

(4) The revised General Fund Capital Programme 2023/24 as set out at Appendix 6 to the report.

(5) The Council introduce from 1 April 2024 a new discretionary Council Tax premium on second homes of up to 100% and apply a premium of up to 100% on homes which have been empty for longer than 1 year following the Levelling Up and Regeneration Bill becoming law.

(6) To note the Section 151 Officer’s sign off as outlined in the report.

(7) To approve flexible use of capital receipts to fund its transformation and improvement plans, as included in its Recovery and Stabilisation phase 2 programme.

(Key decision):

(8) To give delegated authority to the Section 151 Officer, in consultation with the Cabinet member for finance to make any late adjustments necessary following the announcement of final financial settlement, prior to Full Council submission.

The Cabinet considered the report of the Director of Finance and Performance, seeking their recommendation to Full Council on the General Fund Budget 2023/24 and updated Medium Term Financial Strategy (MTFS), together with the updated Capital Programme and Treasury Management position.

Councillor Holt presented the report and thanked officers for their work in producing a balanced budget, given the challenging economic context, without cutting front line services. He added that following the success of the Cost-of-Living Crisis fund, the Council would be increasing this fund by £0.1 million, to support the local voluntary and community sector with practical support for those in most need.

He advised that a correction was required to section 1.9 of report. The report was produced with the assumption of Government support for the Council’s proposals for Levelling Up Fund Round 2 and referred to a planned capital expenditure of £63.9 million (and £146 million over the MTFS period). Given the Council was unsuccessful in its bid, the Council was now planning capital expenditure of £41.6 million (and £79.7 million over the MTFS period).

Following discussion, it was unanimously agreed to add a further recommendation to Full Council around capital receipts in the context of the Recovery and Stabilisation programme and this was detailed below.