Decision details

To consider the budget and make recommendations to Council as appropriate.

The Executive RESOLVED to make the following recommendations to Council, to:

i)     agree a 2.99% increase in Waverley’s Band D Council Tax Charge for 2023/24 with resultant increases to the other council tax bands;

ii)    agree to continue the Council’s existing Council Tax Support Scheme at the current levels;

iii)   agree to a general inflationary increase to Fees and Charges for 2023/24 except for car parking charges and some exceptions as proposed in Annexe 4;

iv)   note the appropriation of garages from the HRA to General fund and approve an increase of 4% to the weekly charge for all garages from 1 April 2023; 

v)    approve the General Fund Budget for 2023/24 as summarised in Annexe 2, incorporating the baseline net service cost variations included at Annexe 1 and Annexe 3;

vi)   approve the General Fund Capital Programme as detailed in Annexe 5; and,

vii)  approve the reserve movements as set out in Annexe 6.

Reason: The General Fund Budget is a major decision for the Council and setting a balanced budget is a statutory requirement. Scrutiny of these MTFP and Budget proposals demonstrate transparency and good governance. The Covid-19 negative impact on the finances has mostly been overcome through the swift response and actions taken by the council. This challenge was immediately followed by the impact of the global economic crisis driving up UK inflation and interest rates and the resulting current cost of living crisis. The council has been well positioned to respond to these challenges and whilst the latest MTFP for the subsequent years ending 2026/27 continues to project future financial pressures, and opportunities, the council is able to take action to ensure sufficient funding is in place to deliver and maintain services.

[This matter is recommended to Council for decision.]