To consider approval of the Draft Budget for consultation.

1.          The Draft Budget and Medium Term Financial Strategy for the period 2024/25 – 2028/29 be recommended by Executive Board for Public Consultation.

2.          That the intention to seek alignment of constitutional limits across the partnership and to implement arrangements to facilitate the delivery of the Councils priorities during 2024/25 and onwards as part of the budget setting process be noted.

A report was presented to enable consideration of the draft budget for approval for consultation.  Attached to the report was the draft detail of the 2024/25 budget, the 5-year Medium Term Financial Strategy (MTFS) from 2024/25 to 2028/29. The report also included the recommended level of Council Tax for 2024/25.

The proposed budget showed that efficiencies would be required to support the medium-term financial strategy (MTFS).

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The Portfolio Holder for Finance detailed the report and recommendations contained within.  Following which, the Vice Chairman of Executive Board extended thanks to the Portfolio Holder for a full briefing and to the Finance Team for their preparatory work. 

During discussion reference was made to:

·       Internal Drainage Boards (IDBs).  A significant element of the Council’s budget was the Drainage Board Levy, like the Council the drainage boards were also experiencing increased cost demands.  The Council was liaising with the Boards, who were attempting to limit future increases where possible.  This was increasingly difficult with significant increases in power costs being experienced. Representations to government have been made and continued due to the substantial loss of income to the Council.  It was noted that a Special Interest Group had been formed to lobby Government led by South Holland District Council on behalf of the South and East Lincs Councils Partnership.  In addition, the IDBs had made extensive representations to the Department for Environment, Food & Rural Affairs (DEFRA) and the Association of Drainage Authorities (ADA) on this significant issue.

·       Greater collaboration with partners to support key projects enabling those most complex cases to be dealt with in an appropriate way, particularly important to ensure support for the most vulnerable.

·       The importance of a balanced budget in fulfilling the strategic objectives of the council. 

During discussion the Portfolio Holder for the Coastal Economy referred to the estimated IDB levy.  A query was raised if this could be detailed specifically in Council Tax statements.  Following which, it was agreed to seek further advice from Finance Officers.

RESOLVED

1.          The Draft Budget and Medium Term Financial Strategy for the period 2024/25 – 2028/29 be recommended by Executive Board for Public Consultation.

2.          That the intention to seek alignment of constitutional limits across the partnership and to implement arrangements to facilitate the delivery of the Councils priorities during 2024/25 and onwards as part of the budget setting process be noted.

Reasons:

To comply with the budgetary and policy framework and legislative requirement.

Other Options:

To not commence budget consultation.