Decision details

Budget report & Treasury Management Strategy 2023/24

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To consider the 2023/24 Budget report and Treasury Management Strategy. The Mayor’s budget proposals will subsequently be submitted to Full Council.

Decision:

The recommendation of Mayor’s budget proposals to Council in respect of 2023/24 as set out in the report, subject to any agreed amendments:

 

Noted:

1.      That a report from the Budget Scrutiny Committee would follow after their meeting on 2 February 2023.

2.      The budget consultation process that was followed and feedback as outlined in Section 18 of the budget report and Appendix 6.

3.      The categorisation of earmarked reserves and provisions set out in Section 15 of the report.

4.      That the budget consultation feedback and equality impact assessments had been taken into consideration and had informed the final budget proposals.

5.      The feedback provided by Bristol Schools Forum for Cabinet and Council, for consideration in making final decisions on the Dedicated Schools Budget for 2023/24 as set out in Appendix 14.

6.      The Statement of the Chief Finance Officer (s151 Officer) on the robustness of the budget and adequacy of reserves as set out in Section 17 of the main report.

 

That Cabinet recommended to Full Council:

7.      The Bristol City Council levels of Council Tax increase of 4.99%; which includes 2% precept to support Adult Social Care, noting the precepts of the Police and Crime Commissioner for Avon and Somerset and the Avon Fire Authority.

8.      The Council’s General Fund net revenue budget for the year 2023/24 as £483.5 million and expenditure allocations as set out in Appendix 1; subject to any budget amendments properly notified to and approved by the council in line with the Constitution. Page 3 3 Version Jan 2021

9.      That supplementary estimates be approved as part of the Budget 2023/24 Report in the case that they are required to meet Q3 2022/23 full year forecast spending requirements (see appendix 15.i,ii,iii)

10.  The council’s capital budget and programme for the years 2023/24 – 2032/33, totalling £2.0 billion

11.  The strategic Community Infrastructure levy allocations in section 11 be approved.

12.  The proposed Treasury Management Strategy for 2023/24 in Appendix 4, incorporating the Minimum Revenue Provision policy and the prudential indicators and limits.

13.  Approved the Strategy for the Flexible use of Capital Receipts as set out in Appendix 5.

14.  Approved the additional Council Tax premiums relating to empty and second homes outlined in Appendix 12 be applied from 1 April 2024, or as soon as possible thereafter, subject to the required legislation being in place.

 

Delegate Authority:

15.  The delegation of authority to the Director of Finance after consultation with Designated Deputy Mayor with responsibility for City Economy, Finance, and Performance and the Mayor, to make any necessary technical adjustments that may be required to the budget with transfers to and or from reserves as appropriate.

Report author: Denise Murray

Publication date: 24/01/2023

Date of decision: 24/01/2023

Decided at meeting: 24/01/2023 - Cabinet

Effective from: 01/02/2023

Accompanying Documents: