Decision - General Fund Budget and Resources Update 2023/24

To provide an update on resources following publication of the provisional LG Financial Settlement together with an update on budget setting progress for the 2023/24 General Fund capital and revenue budgets.

RESOLVED : That the Committee: (i) Noted the Legal Advice regarding the setting of the Budget and Council Tax in Section 8 and Appendix 1 and noted that this will be provided to all councillors for the Budget Council meeting. (ii) Agreed the Budget Protocol set out in Section 7 of the report. (iii) Noted the latest interim forecast for 2022/23, indicating a General Fund outturn overspend of £ 10.601m . (iv) Noted the latest resource position for 2023/24 indicating an overall budget shortfall of £ 20.929m with a remaining budget gap of £ 8.333m to be addressed in order to achieve a balanced budget. (v) Noted the Guideline Criteria and Budget Categorisation information used to inform the development of budget options, including savings proposals.

The document sets out a rating scale for assessing budget options from 0 to 5. It evaluates financial sustainability, community wealth, climate impact, housing and homelessness, equality, health and wellbeing, and effects on people facing austerity.