Decision details

DRAFT 2025/26 Corporate Strategy and Budget and Medium-Term Financial Plan - KD2024/005

Decision Maker: Combined Authority Board

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To approve the draft Medium-Term Financial Plan for public consultation and to note the developing Corporate Plan.

Decision:

It was resolved to:

A    Note the developing draft Corporate Strategy following refresh.

B    Approve the draft budget for 2025-26 and the Medium-Term Financial Plan 2025-26 to 2028-29 as set out in this report and accompanying appendices for consultation.

C    Note that the budget currently assumes that the Mayoral Precept is maintained at its current Band D equivalent level of £36 and that the Mayor will seek views on whether to maintain the Precept at this level or apply an uplift of 4.99%, resulting in a Band D equivalent of £37.80.  This is set out in paragraphs 2.84 and 2.85 of the report and Appendix 1.

D    Note the further work being undertaken in relation to the bus fare cap and that the revenue funding options will be reviewed with partners to identify potential mitigation opportunities for consideration in the final budget.  See also paragraph 2.22 of the report.

E    Approve the timetable for consultation and those to be consulted.

Report author: Janice Gotts

Publication date: 18/11/2024

Date of decision: 13/11/2024

Decided at meeting: 13/11/2024 - Combined Authority Board

Effective from: 27/11/2024

Accompanying Documents: