The report and appendices set out all the relevant information in support of the Council’s Budget for General Fund services and Council Tax for 2023/24, together with financial forecast information through to 2025/26. Also included was information on the Housing Revenue Account (HRA) budget for 2023/24 and the Capital Programme 2023/24 to 2025/26.

(i)            Appendix A - The General Fund budget proposals for 2023/24 to 2025/26.

(ii)          Appendix B - The Housing Revenue Account (HRA) budget proposals for 2023/24 onwards.

(iii)         Appendix C - The Capital and Investment Strategy 2023/24.

(iv)         Appendix D – Fees & Charges Schedule 2023/24.

(v)          Appendix E - Pay Policy Statement.

(vi)         Appendix F - Section 151 Officer’s Assurance Statement and useful information.

(vii)        Appendix G - Corporate Strategy Budget Summary.

The Budget was considered by the Policy, Resources and Economic Development Committee on 8 February 2023 and has been recommended to Ordinary Council for consideration and approval.

The report summarised the detailed service budgets, together with known adjustments including the impact of the provisional central government grant funding.

The key elements of the proposed budget were:

General Fund

1) A proposed 3% increase in Council Tax for 2023/24 for Brentwood Borough Council services.

2) Earmarked Reserves to set aside appropriate balances to mitigate future financial risk and build up in borough regeneration.

3) Future uncertainty of Local Government Financing.

Housing Revenue Account

1) For 2023/24 a budget that delivers a surplus of £26k.

2) Proposed increase in rents of 7% per annum.

3) Continued investment in the delivery of Decent Homes and development of Housing within the Borough.

4) Significant investment in the Strategic Housing Delivery Programme ensuring the 30-year business plan is sustainable.

Capital

1) Total capital investment of £36.3 million (General Fund) and £22.0 million (HRA) in 2023/24.

2) Subsequent investment of £20.2 million (General Fund) and £50.3 million (HRA) from 2024 to 2026.

Member’s thanked the Finance Team for the work on the Budget.

Cllr Hossack  MOVED and Cllr Poppy SECONDED the recommendations in the report.

After a full discussion a recorded vote was taken in accordance with Local Authorities (Standing Orders) (England)(Amendment) Regulations 2014).

Members voted as follows:

FOR: Cllrs Francois, Barber, Bridge, Mrs Gelderbloem, Heard, Hirst, Mrs Hones, Hossack, Jakobsson, Parker, Mrs Pearson, Poppy, Reed, Russell, Slade, Wagland and White (17)

AGAINST: Cllrs Aspinell, Barrett, Dr Barrett,  M Cuthbert, Mrs N Cuthbert, Mrs Davies, Fryd, Fulcher, Haigh, Kendall, Laplain, Mynott, Naylor and Sankey (14)

The Motion was CARRIED and it was RESOLVED to:

R1. Approve the General Fund Budget 2023/24 and Medium-Term Financial Strategy as set out in Appendix A.

R2. Approve a proposed Council Tax increase of 3% for 2023/24, the charge of Band D property increases to £204.58 per annum for Brentwood Council services only.

R3. Approve the HRA budget 2023/24 including the 30-year HRA Business Plan within Appendix B.

R4. Approve a proposed increase to rents of 7% for 2023/24.

R5. Approve the Capital and Investment Strategy 2023/24 in Appendix C.

R6. Approve the Fees & Charges Schedule in Appendix D.

R7. Approve the Pay Policy Statement in Appendix E.

R8. To note the Section 151 Officers Assurance Statement in Appendix F.

Reasons for Recommendation

Effective financial management underpins all the priorities for the Council and will enable the Council to operate within a sustainable budget environment.

The Council is required to approve the Budget as part of the Budget and Policy Framework.

The meeting concluded at 8.00pm