Decision details

To set out the Mayor's revenue budget incorporating decisions for Revenue Monitoring, Capital Programme and Treasury Management Strategy to be considered by cabinet in making recommendations for Full Council to approve its budget.

That Cabinet recommended to Council to:-

Note:

·       The report from Overview and Scrutiny Management Board (OSMB) and/or the Resources Scrutiny Commission that will be published separately.

·       The budget consultation process that was followed and feedback as outlined in Section 18 and Appendix 6.

·       The categorisation of earmarked reserves and provisions set out in Section 15.

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

·       The feedback provided by Bristol Schools Forum for Cabinet and Council, for consideration in making final decisions on the Dedicated Schools Budget for 2024/25 as set out in Appendix 14.

·       The Section 25 Statement of the Chief Finance Officer (s151 Officer) as set out in Section 17 on the robustness of the budget and adequacy of reserves.

Delegated Authority:

·       To the Director of Finance after consultation with Designated Deputy Mayor with responsibility for Finance, Governance 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.

That Cabinet recommended to Full Council:

·       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.

·       The council’s General Fund net revenue budget for the year 2024/25 as £525.494 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.

·       That supplementary estimates be approved as part of the Budget 2024/25 Report in the case that they are required to meet Q3/P8 2023/24 full year forecast spending requirements (see Appendix 15)

·        The council’s capital budget and programme for the years 2024/25 – 2033/34, totalling £2.7 billion for the General Fund and Housing Revenue Fund.

·       The strategic Community Infrastructure Levy allocations in section 13 are approved.

·       The proposed Treasury Management Strategy for 2024/25 in Appendix 4, incorporating the Minimum Revenue Provision policy and the prudential indicators and limits.

·       To approve the Strategy for the Flexible use of Capital Receipts as set out in Appendix 5.

·       To approve the changes to Council Tax for empty homes (long term empty dwellings that are substantially unfurnished) and for second homes (dwellings that are occupied only periodically and are substantially furnished) in Appendix 12 be applied from 1 April 2024, or as soon as possible thereafter, subject to the required legislation being in place.