Issue - meetings
2023/24 First Draft Budget and Medium Term Financial Strategy
Meeting: 14/12/2022 - Cabinet (for meetings after 18 January 2023 see "Executive") (Item 101)
101 Update of 2023/24 Budget 
PDF 98 KB
Purpose:
To provide an update on the developing budget for 2023/24
Recommendations:
That Cabinet resolves to note the report alongside comments any comments from Finance and Management Overview and Scrutiny Committee.
Additional documents:
- Item 8 - A - 20221202 Budget movements Annex A, item 101
PDF 261 KB
- Item 8 - B - 20221201 Budget comparison Annex B, item 101
PDF 78 KB
- Item 8 - C - 20221202 Growth requests Annex C, item 101
PDF 62 KB
- Item 8 - D - 20221202 Capital programme Annex D, item 101
PDF 55 KB
- Item 8 - E1 - 20221201 MTFS Annex E1, item 101
PDF 60 KB
- Item 8 - E2 - 20221201 MTFS Annex E2, item 101
PDF 62 KB
- Item 8 - F - 20221201 MTFS Annex F, item 101
PDF 70 KB
Minutes:
Councillor Dan Levy, Cabinet Member for Finance, presented the report on the developing budget for 2023/24. He said that all local authorities are under increasing pressure and thanked the Finance team for their work on putting the draft budget together. He said that the budget made sober reading with some income falling below expected levels and ever increasing upward pressure on salaries and utility costs. The budget would be further refined once the Government settlement had been received on 21 December. The Leader asked for clarity about the summary of growth requests. Councillor Levy explained that a number of the posts were time limited or grant funded. These were now being reviewed to see whether they should become part of the core budget.
There was discussion around the additional £250,000 for the Local Plan. It was confirmed that this was in addition to the £650,000 in the budget. The Chief Executive confirmed that some of the work on the Oxfordshire 2050 Plan could be used to support the Local Plan but some additional work would be needed. The Planning Policy Manager was currently working to establish a breakdown of costs.
Councillor Al-Yousuf reported on the concerns that had been raised by Finance and Management Overview and Scrutiny Committee (FMOS) and suggested that a more sustainable path needed to be found for future years. The Leader responded that the budget setting process would follow its usual course with Cabinet taking measured decisions. The Chief Finance Officer confirmed that long term measures would need to be introduced in the 2023/24 to secure a sustainable future.
The Cabinet Resolved to note the report.