Agenda item

Section 100B(4)(b) of the Local Government Act 1972, together with paragraphs 6 and 24 of the Council Procedure Rules contained in the Constitution requires that the permission of the Chairman be obtained, after prior notice to the Chief Executive, before urgent business not specified in the agenda (including a supplementary agenda of which the statutory period of notice has been given) may be transacted.

In accordance with Operational Standing Order 6 (non-executive bodies), any item raised by a non-member shall require the support of a member of the Committee concerned and the Chairman of that Committee.  Two weeks' notice of non-urgent items is required.

1)         The Cabinet considered the draft General Fund revenue budget proposals for 2023/24.

2)         The Cabinet considered the draft Housing Revenue Account (HRA) revenue budget proposals for 2023/24.

3)         The Cabinet considered the draft General Fund and HRA capital proposals for 2023/24 through to 2027/28.

4)         The Cabinet considered the draft Fees and Charges proposals for 2023/24.

5)         The Cabinet considered and approved the updated Medium-Term Financial Plan (General Fund and HRA); and

6)         The Cabinet requested that the Stronger Council Select Committee consider the draft budget proposals for 2023/24 (Appendix A of the report) – including the savings proposed to balance the budget – and associated documents (Appendices B to E of the report) and make comments for consideration at the Cabinet meeting on 6th February 2023.

The Finance Portfolio Holder introduced the draft budget report. The Cabinet approved an updated Financial Planning Framework (FPF) 2023/24 to 2027/28 at its meeting on 30th September 2022, which was the first step in preparing the 2023/24 budget.

The first major milestone in the FPF was reached on 10th October 2022, with Cabinet receiving and considering an updated Medium-Term Financial Plan (MTFP) for 2023/24 to 2027/28. The MTFP revealed a projected deficit of £4.126 million for 2023/24 on the General Fund; it is a deficit that requires eliminating in full if the Council is to fulfil its legal obligation to set a balanced budget for the forthcoming financial year.

This draft budget paper was a balanced budget. As yet we did not know how much of a government grant, we would get. This draft budget would still be in flux until the February Council meeting. This draft will also be going to the Stronger Council Scrutiny Panel for further consideration.

He noted that the HRA was not looking too bad in the short term, it was in a balanced position.

Councillor Lion asked how strong was this budget in terms of going forward for the coming year, was there any way we could reduce our commitments or risks. He was told that it was a known unknown. We had to use what was in front of us and if any significant changes occurred then we would have to reconsider as we went along.

Councillor Jon Whitehouse asked for a clarification of the reduction of £200k in parking income for Bakers Lane, Epping. He was told that when the Bakers Lane car park when it transfers would not be part of the Council’s estate. We had sold Cottis Lane to Qualis and when Bakers Lane shuts down for construction of the new sports centre it will not have any cars parking there. We will not own those two car parks in Epping.

The Leader thanked the Portfolio Holder, all cabinet colleagues, and all officers connected with this. this has been the most tense budget period he has known.

Decision:

1)         The Cabinet considered the draft General Fund revenue budget proposals for 2023/24.

2)         The Cabinet considered the draft Housing Revenue Account (HRA) revenue budget proposals for 2023/24.

3)         The Cabinet considered the draft General Fund and HRA capital proposals for 2023/24 through to 2027/28.

4)         The Cabinet considered the draft Fees and Charges proposals for 2023/24.

5)         The Cabinet considered and approved the updated Medium-Term Financial Plan (General Fund and HRA); and

6)         The Cabinet requested that the Stronger Council Select Committee consider the draft budget proposals for 2023/24 (Appendix A of the report) – including the savings proposed to balance the budget – and associated documents (Appendices B to E of the report) and make comments for consideration at the Cabinet meeting on 6th February 2023.

Reasons for Proposed Decision:

To provide Cabinet with an initial draft Budget for 2023/24 for consideration (alongside comments from the Stronger Council Select Committee held on 24th November 2022) ahead of the forthcoming Budget scrutiny process in January 2023; and for Cabinet to provide Finance officers with any direction required to further refine the Budget.

Other Options:

N/A