Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
1. The initial draft 2023/24 Budget detailed in Appendix 7 be agreed.
2. The initial draft 2023/24 Budget for each portfolio be referred to the relevant PDS Committees for consideration.
3. The financial projections for 2024/25 to 2026/27 be noted.
4. It be noted that there are still areas of financial uncertainty which will impact on the final 2023/24 Budget.
5. Increase rent levels for London Affordable Rents and Social (Formula) Rents by 7% from April 2023 as set out in Section 12.2 of the report be agreed.
6. The proposed contribution of £246,470 in 2023/24 to the London Boroughs Grant Committee (see section 22 of the report) be agreed.
7. The setting of the schools’ budget, mainly met through Dedicated Schools Grant, be delegated to the Education, Children and Families Portfolio Holder, allowing for consultation with the Schools Forum (see section 23 of the report).
8. The outcome of consultation with PDS Committees be reported to the next meeting of the Executive.
9. The outcome of the Provisional Local Government Financial Settlement 2023/24 as detailed in the report be noted.
10. The budget gap remaining of an estimated £29.6m per annum by 2026/27 and that any decisions made for the 2023/24 Budget will have an impact on the future year projections be noted.
11. Any final decision by Executive on recommended Council Tax and Adult Social Care Precept levels to Council will normally be undertaken at the next meeting of Executive.
12. Where possible any identified savings should be taken in year.
Report author: David Bradshaw
Publication date: 19/01/2023
Date of decision: 18/01/2023
Decided at meeting: 18/01/2023 - Executive