Agenda, decisions and draft minutes

The minutes of the last meeting were agreed as a true and accurate record.

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The Mayor and Cabinet noted the views of the Overview and Scrutiny Committee and the Public Accounts Select Committee as presented by the respective Chairs, Cllrs Schmidt and Rathbone.

The Mayor and Cabinet noted the views of the Overview and Scrutiny Committee and the Public Accounts Select Committee as presented by the respective Chairs, Cllrs Schmidt and Rathbone.

Cllr Schmidt, Chair of Overview & Scrutiny Committee, thanked officers and Cabinet Members for working with scrutiny colleagues. He was satisfied that proposals had been prepared with the utmost sensitivity to minimising the impact on residents. He noted that there had been particular interest in scrutinising the capital asset sale of the Honor Oak Depot and that officers had given assurances that further scrutiny would be possible when the details come to a future Mayor & Cabinet meeting.

Cllr Rathbone, Chair of the Public Accounts Select Committee, acknowledged that this was not a budget that anybody wanted to pass, having to make additional cuts and savings in addition to those previously budgeted for. He informed the meeting that, as a result of the proposals going through a full and rigorous scrutiny process, some proposals had been withdrawn, including cuts to funding for Lewisham’s participation in the Lewisham Youth Games, and to electoral services. He also acknowledged that the need to make further cuts was not due to mismanagement, rather growing pressures on social care, special educational needs and emergency accommodation.

MOVED, SECONDED and RESOLVED that, having considered the views of those consulted on the budget, and subject to consideration of the outcome of consultation with business ratepayers and subject to proper process, as required, that Mayor and Cabinet:

General Fund Revenue Budget

1.    notes and asks Council to note the 2023/24 forecast projected overall variance of £19.9m, after the use of corporate provisions and reserves, or 7.5% of the agreed budget of £263.680m as set out in section 6 of this report and that this year-end overspend will be met from corporate provisions and reserves;

2.    endorses and asks Council to endorse the budget cut reduction measures of £2.315m and £8.423m, with an anticipated assumed minimum delivery of £5.6m in 2024/25, as set out in Section 6 of the report and summarised in Appendix Y1 and Y2a and Y2b;

3.    agrees and asks Council to agree the allocation of £52.869m of resources from; the corporate risks and pressures, adult social care precept, new homes bonus, social care grant, ASC market sustainability and improvement fund, discharge grant, New Homes Bonus, Services Grant and reserves in 2024/25 to be invested in funding quantified budget pressures and opportunities, both recurring and once-off, as set out in section 6;

4.    agrees and recommend that Council agree to delegate to the Executive Director of Corporate Resources the use of the new additional social care grant allocation instead of reserves for the funding of once off pressures in 2024/25, as set out in section 6;

5.    agrees to recommend to Council that a General Fund Budget Requirement of £293.838m for 2024/25 be approved;

6.    asks Council to agree to a 4.99% increase in Lewisham’s Council Tax element. This will result in a Band D equivalent Council Tax level of £1,566.58 for Lewisham’s services and £2,037.98 overall. This represents an overall increase in Council Tax for 2024/2/25 of 5.8% and is subject to the GLA precept for 2024/25 being increased by £37.26 (i.e. 8.58%) from £434.14 to £471.4, in line with the GLA’s draft budget proposals;

7.    notes the final Settlement Funding Assessment (SFA) figure for 2024/25 has not yet been announced and agrees to delegate authority to the Executive Director for Corporate Resources to include any change to the provisional SFA of £137,197,175 in the Budget report for Council with any difference to the position set out in this report covered from provisions and reserves as necessary;

8.    notes the provisional and estimated precept and levies from the GLA and other bodies as detailed in Appendix Y6 and agrees to delegate authority to the Executive Director for Corporate Resources to include any changes once confirmed in the Budget report for Council with any difference covered from provisions and reserves as necessary;

9.    notes and asks Council to note the Council Tax Ready Reckoner which, for illustrative purposes, sets out the Band D equivalent Council Tax at various levels of increase. This is explained in Section 6 of the report with more detail in Appendix Y4;

10.  ...  view the full decision text for item 4.

Deputy Mayor (Acting as Mayor) Cllr Dacres introduced the item. She thanked her fellow councillors and officers, and recorded her thanks to Cllr De Ryk in particular.

The Acting Mayor summarised the council’s financial position and pressures, and invited the Cabinet Member to move the recommendations.

Cllr De Ryk moved the report, thanked officers and scrutiny members, and stressed the need for close monitoring going forward. She highlighted some of the key pressures on the budget.

Cllr Cooper seconded the recommendations.

Cllr Barnham spoke about the consistent pressure on the CYP budget.

It was MOVED, SECONDED and RESOLVED that, having considered the views of those consulted on the budget, and subject to consideration of the outcome of consultation with business ratepayers and subject to proper process, as required, that Mayor and Cabinet:

General Fund Revenue Budget

1.    notes and asks Council to note the 2023/24 forecast projected overall variance of £19.9m, after the use of corporate provisions and reserves, or 7.5% of the agreed budget of £263.680m as set out in section 6 of this report and that this year-end overspend will be met from corporate provisions and reserves;

2.    endorses and asks Council to endorse the budget cut reduction measures of £2.315m and £8.423m, with an anticipated assumed minimum delivery of £5.6m in 2024/25, as set out in Section 6 of the report and summarised in Appendix Y1 and Y2a and Y2b;

3.    agrees and asks Council to agree the allocation of £52.869m of resources from; the corporate risks and pressures, adult social care precept, new homes bonus, social care grant, ASC market sustainability and improvement fund, discharge grant, New Homes Bonus, Services Grant and reserves in 2024/25 to be invested in funding quantified budget pressures and opportunities, both recurring and once-off, as set out in section 6;

4.    agrees and recommend that Council agree to delegate to the Executive Director of Corporate Resources the use of the new additional social care grant allocation instead of reserves for the funding of once off pressures in 2024/25, as set out in section 6;

5.    agrees to recommend to Council that a General Fund Budget Requirement of £293.838m for 2024/25 be approved;

6.    asks Council to agree to a 4.99% increase in Lewisham’s Council Tax element. This will result in a Band D equivalent Council Tax level of £1,566.58 for Lewisham’s services and £2,037.98 overall. This represents an overall increase in Council Tax for 2024/2/25 of 5.8% and is subject to the GLA precept for 2024/25 being increased by £37.26 (i.e. 8.58%) from £434.14 to £471.4, in line with the GLA’s draft budget proposals;

7.    notes the final Settlement Funding Assessment (SFA) figure for 2024/25 has not yet been announced and agrees to delegate authority to the Executive Director for Corporate Resources to include any change to the provisional SFA of £137,197,175 in the Budget report for Council with any difference to the position set out in this report covered from provisions and reserves as necessary;

8.    notes the provisional and  ...  view the full minutes text for item 4.