Decision details

Draft 2025/26 Corporate Strategy and Budget and Medium-Term Financial Plan 2025-2029

Decision Maker: Combined Authority Board

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To note the consultation feedback, approve the Corporate Strategy and Budget and MTFP

Decision:

It was resolved to:

A    Note the consultation feedback received during the consultation period including the feedback from the Overview and Scrutiny Committee as set out in paragraph 2.26.

B    Approve the draft Corporate Strategy following its refresh subject to the inclusion of the final financial information once the budget is approved.

C    Approve the use of the Programme Response Fund in 2024-25 and 2025-26 to support the requirements of the English Devolution White Paper with any underspend on the Fund in 2024-25 being set aside in an earmarked Response Reserve.

D    Delegate authority to the Chief Executive to approve the draw down of the Programme Response Fund in 2024-25 and 2025-26, and the earmarked Response Reserve, in relation to costs arising as a result of addressing the English Devolution White Paper.

E    Approve the inclusion of the “Connect to Work” Get Britain Working initial funding of £100k split across 2024-25 and 2025-26.  See paragraph 2.23.

F    Approve the Draft Budget for 2025-26 and the Capital Programme & Medium-Term Financial Plan 2025-26 to 2028-29 as contained in Appendices C, D and E and including project reprofiling set out in Appendix F, subject to the reduction of the bus subsidy funding by £313k and a corresponding reduction of £313k in the transport levy to be divided between Cambridgeshire County Council and Peterborough City Council using the existing formula.

G   Approve a 2% increase in the Transport Levy for 2025-26 totalling £14,039,563 - £10,277,774 from Cambridgeshire County Council and £3,761,789 from Peterborough City Council.Approve a 0.27% reduction in the Transport Levy for 2025-26 totalling £13,726,563 - £10,048,640 from Cambridgeshire County Council and £3,677,923 from Peterborough City Council.

H    Approve the usage of the 2025-26 BSIP revenue grant allocation to fund an extension of the local single journey bus fare cap beyond 31 March 2025 as set out in paragraphs 2.54 and 2.55, noting that the additional costs associated with the £2 fare cap retention from January to March 2025 will be the first call on the transport underspend in 2024-25.

I      Note the Mayor’s intention to allocate Highways Maintenance grants totalling £37,369,000 to Cambridgeshire County Council and Peterborough City Council in line with the Department for Transport formula for determining each Council’s share resulting in the allocations of £29,793,213 and £7,575,787 respectively with more detail set out in paragraph 2.24.

J     Delegate any minor changes required to the budget before 1 April 2025 to the Executive Director of Resources including the inclusion of grant announcements made prior to 1 April 2025.

Report author: Kate McFarlane, Janice Gotts

Publication date: 24/01/2025

Date of decision: 22/01/2025

Decided at meeting: 22/01/2025 - Combined Authority Board

Effective from: 04/02/2025

Accompanying Documents: