Agenda item

To consider the attached report

The Executive Member for Finance and Corporate thanked the Chief finance Officer and officers for producing a balanced budget during difficult times.

The recommendation as set out in the agenda report had been put forward by the Executive on 11 February 2025. The financial plan proposals 2025/26 to 2027/28 had also been considered by the Overview and Scrutiny Committee on 7 January and 4 February 2025, with no change to that proposed.

The Executive Member also referred to the residents’ survey (full results were set out at appendix 13 of the agenda report) which showed that:

-78% agreed with an increase of the Council Tax by 2.99%.

-85% agreed with the Council’s priorities, an increase over 64% the previous year.

-The top 3 non statutory services supported in order of priority were public toilets, open spaces, and beaches and resorts.

It was proposed by the Executive Member for Finance and Corporate and seconded by the Leader that the recommendation as set out in the agenda report be approved.

During discussion of the financial plan proposals: concern was expressed regarding the use of reserves; it was noted that Appendix 5 to the agenda report detailed a breakdown of all services; the cost of implementing the One Teignbridge Strategy for the first year was included in the financial plan proposals; of 383 Councils, Teignbridge was one of 35 who are debt free; Teignbridge receives 8p from every council tax £1, the remainder going to Devon County Council, Fire and Police Authorities. 

A recorded vote was taken on the proposal as required by statute.

For the proposal

Cllrs Buscombe, Cox, Goodman-Bradbury, Hayes, Henderson, Jackman, James, Keeling, Major, Morgan, Nuttall, Palethorpe, C Parker, Parrott, Radford, Rollason, Steemson, Swain, G Taylor, Wrigley, Sanders, Dawson

Total 22

Against the Proposal

Nil

Abstention

Cllrs Atkins, Bradford, Bullivant, Clarance, Daws, Gearon, Hall, Macgregor, Mullone, P Parker, Rogers, Ryan, Smith, J Taylor, Thorne, Webster  

Total 16

The Proposal was CARRIED

RESOLVED

a          That the Teignbridge band D council tax for 2024/25 is increased by 2.99% or £5.87 to £202.28 per annum

b        Maintaining 100% council tax support

c          That general reserves are increased to 12.7% of the net revenue budget for 2025/26 or £2.5 million

d          That £200,000 of the general reserve balance in any one year be available to the Executive to meet unexpected expenditure in addition to the agreed revenue budget

e          All other decisions with regard to budgetary change will be approved by reference to virement rules in the financial instructions

f           That the summary revenue budget for 2025/26 is £19.8 million as shown at appendix 4. In particular the revenue budget includes:

• Assumptions of a 3.0% pay rise for 2025/26

• Revenue contributions to fund capital are increased to £1,500,000 to support the capital budget

• Core voluntary grants are increased by 5%

• The councillors community fund grant is maintained at £1,000 each

• Continued resources to cover scrutiny support and Modern 25

g          That fees and charges are approved as shown summarised at appendix 6.

h          That the capital programme as shown at appendix 7 is approved. In particular this includes:

• Increasing jobs and homes through continuing support for housing whilst backing business and encouraging community-led planning.  

Work continues on the Teignbridge 100 affordable housing project with 7 units in Newton Abbot already built and delivered in addition to 29 units purchased in Dawlish, Teignmouth, Newton Abbot and Chudleigh for social and affordable rent and temporary accommodation. A provision of £6.8 million has been made for the construction of a Passivhaus extremely energy-efficient design social housing scheme in Sherborne House car park.

Continuing investment for climate change projects following successful funding bids for low carbon heating and energy system improvements.  Schemes have been completed at leisure sites and the Council offices with work underway to deliver a second phase at Broadmeadow Sports Centre. Further provisions are made under the Carbon Action Plan for investment in carbon reduction measures covering the Authority’s Scope 1 & 2 carbon footprint, toinclude onsite renewable energy generation,  thermal fabric improvements and energy efficiency improvements. 

• Infrastructure delivery plan investment contributing to improving education, transport links, sports and open spaces.

Regeneration investment aimed at improving town centres and stimulating growth in the local economy, including Newton Abbot market improvements, funded from Future High Street grant and borrowing. There is also an indicative £2 million provision for employment site investment to be funded through prudential borrowing.  A business case will be brought to members for consideration once it is finalised.

I         That the Financial Plan 2025 to 2030 is approved as set out in appendix 8

j           That the prudential indicators are noted and the prudential limits approved all as set out in appendix 11

k          That the updated treasury management strategy statement and authorised lending list as set out in appendix 12 is approved together with the capital strategy in appendix 12a

l           That each scheme will be considered on its merits as explained at the end of appendix 12 to decide the calculation of minimum revenue provision for capital expenditure in 2025/26

m         That the council tax resolutions as recommended in appendix 15 are approved