Update of 2023/24 Budget
Decision Maker: Cabinet (for meetings after 18 January 2023 see "Executive"), Council
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Councillor Dan Levy, Cabinet Member for Finance, introduced the report which provides an update on the developing budget for 2023/24. The report will recommend:
1) The draft base budgets for 2023/24;
2) Fees and charges for 2023/24;
3) Adoption of the Council Tax Base for 2023/24;
4) The submission of the business rates return.
Councillor Levy gave an overview on budget update, and thanked those members of the public who had submitted responses to the much publicised Budget Consultation being run by the Council, which was soon to come to a close.
Councillor Levy stated that since the last meeting of Cabinet, the Financial Management Overview and Scrutiny (FMOS) Committee had reviewed the budget proposals, and had mainly gone into detail regarding the Medium Term Financial Strategy (MTFS). Councillor Levy further explained that the MTFS reflects that there is always a danger that business rates could be reviewed, and that wider government funding, such as the New Homes Bonus, may be less generous than previously envisaged.
Councillor Levy set out that very little local income is derived from own fees and charges, as set out in government policy. An example of this being that Council Tax can be raised by no more than 3% or £5. Councillor Levy reassured all Members and attendees that the MTFS is taken extremely seriously by the Council’s administration, and that there may be difficult decisions to be taken in the future.
Councillor Levy summed up by stating that the administration are fully committed to improving services, addressing climate change, and supporting residents across the West Oxfordshire district, and that this is reflected in the priorities outlined in the Council Plan.
Councillor Mathew Parkinson, Cabinet Member for Customer Delivery, asked what the acronym ‘MTFS’ stood for. Councillor Levy responded stating that it was the Medium Term Financial Strategy.
Councillor Harry St. John queried what the acronym ‘MRP’ stood for. The Chief Finance Officer responded by stating that it was the Minimum Revenue Provision; a local government accounting requirement that pays down the value of assets over their life.
A question was raised by Dr. Alan Hearne, a member of the public in attendance, regarding how much money is saved by the Council in outsourcing various pieces of work. Councillor Levy responded stating that the Council has various working partnerships with other organisations, which fall under the Council’s remit through ownership and has delivered savings for the Council. An example of this is the working practise of ‘Ubico’, for the provision of waste collections within the District.
Councillor Levy proposed to agree the update on the 2023/24 Budget. This was seconded by Councillor Andy Graham, and was agreed unanimously by Cabinet.
Cabinet Resolved to:
1) Approve the draft fees and charges for 2023/24, as detailed in Annex H, for inclusion as part of the Budget recommendations to Council on Wednesday 15th of February 2023.
And Recommended Council to:
2) Approve the Council Tax Base shown in Annex G, calculated as £47,078.85 for the year 2023/24;
3) Authorise the Chief Finance Officer to submit the National Non Domestic Rates Return 1 (NNDR1) to the Ministry of Housing, Communities and Local Government buy the submission date of 31st January 2023;
4) Authorise the Chief Finance Officer to approve the annual uprating of allowances and non-dependent deductions in the Local Council Tax Support Scheme in line with national regulations.
Report author: Elizabeth Griffiths
Publication date: 13/01/2023
Date of decision: 11/01/2023
Decided at meeting: 11/01/2023 - Cabinet (for meetings after 18 January 2023 see "Executive")
Effective from: 21/01/2023
- 20220103 post settlement draft budget report PDF 113 KB
- 20221229 Budget movements Annex A PDF 262 KB
- 20221229 Budget Comparison Annex B PDF 77 KB
- 20221229 growth requests Annex C PDF 60 KB
- 20221229 Capital Programme Annex D PDF 55 KB
- 20221229 MTFS Annex E (1) PDF 62 KB
- 20221229 MTFS Annex E (2) PDF 64 KB
- 20221229 MTFS graphs Annex F PDF 72 KB
- 20221229 Change in taxbase Annex G PDF 56 KB
- 12 (Green) Fees Charges 2023-24v2 Annex H PDF 799 KB