Agenda item

To recommend to Council to determine the overall level of net expenditure to be included in the General Fund Revenue Budget for 2024/25, to identify a budget savings plan that will ensure a balanced budget in-year incorporating an agreed level of Council Tax, to outline the proposals for the use of the Dedicated Schools Grant and the allocation of schools funding for 2024/25.

The Executive resolved as follows:

1.      To recommend to Council a level of budget savings of £422,000 from Housing Company recharges and review of company overheads for Blackpool Coastal Housing Company and Blackpool Housing Company Limited (ref. paragraph 10.1 and Appendix 4b to the Executive report). 

2.      To recommend to Council a level of budget savings of £1.578 million made up by £427,000 for new rent at the Tram Depot from Blackpool Transport Services Limited; £500,000 from improved performance from the Sandcastle Waterpark and Winter Gardens; £500,000 from an Enveco dividend and £151,000 from a rent increase from the Sandcastle Waterpark.

3.      To recommend to Council a level of budget savings of £14.3m (£16.3m including those approved at 1 and 2 above) (ref. paragraphs 10.1 and Appendix 4b) incorporating a Council Tax increase of 4.99% made up of 2.99% plus a 2% Adult Social Care precept.

4.      To recommend to Council the level of net expenditure for the draft General Fund Revenue Budget 2024/25 of £194,762,000 (ref. paragraph 9.2 and Appendix 4a, to the Executive report).

5.      To note that the precepts for Police and Fire will be reported to Full Council on 21 February 2024 as the rates are not agreed until 19 February 2024 and week commencing the 19 February 2024 respectively.

6.      To recommend to Council that the Chief Executive be authorised to take any necessary steps to ensure any staffing savings are achieved (ref. paragraph 11.1).

7.      To recommend to Council the proposed use of the Dedicated Schools Grant Budget for 2024/25 (ref. paragraph 7.9 and Appendix 4c to the Executive report).

8.      To recommend to Council the allocation of schools funding for 2024/25 (ref. paragraph 7.9 and Appendix 4c to the Executive report).

9.      To recommend to Council a target level of working balances of £8m by 31 March 2025 (ref. paragraph 13.5)

10.  To recommend to Council that due regard is given to the robustness of the estimates and the adequacy of reserves in the budget proposals for 2024/25 (ref. section 13)

11.  To agree to consider any further facts, information and stakeholder feedback which may emerge and report the details to the meeting of the Council on 21 February 2024.