Issue - meetings

RECOMMENDATIONS:

The Executive is asked to agree the following recommendations:

1.1.        To agree the annual budget for the London Councils Grants Committee and proposed Islington contribution, following consideration by the London Councils Leaders’ Committee on 10 December 2024. (Paragraph 3.34) 

1.2.        To agree the Housing Revenue Account (HRA) rents and other HRA fees and charges for 2025/26 (Tables 17-19, and Appendix D2) 

The Executive is asked to note and endorse the following recommendations which will be referred to Full Council for approval:

The General Fund Medium-Term Financial Strategy (Section 3)

1.3.        To?agree and recommend to Full Council?the?latest assumed?Medium-Term Financial Strategy (MTFS)?and 2025/26 budget, including the underlying?MTFS principles, latest in-year monitoring position and the budget assumptions. (Paragraphs 3.5-3.12, Table 1,?and?Appendix A) 

1.4.        To?agree and recommend to Full Council the?proposed?2025/26 net budgets by directorate. (Paragraph?3.13,?Table?3,?and?Appendix A) 

1.5.        To agree and recommend to Full Council the 2025/26 savings and note that individual savings may be subject to individual consultation before they can be implemented. (Paragraph 3.39, Table 8, and Appendix B) 

1.6.        To note?the?Dedicated?Schools?Grant (DSG)?settlement for 2025/26 and related funding assumptions following the Provisional Local Government Finance Settlement on the 18 December 2024 (‘the settlement’). (Paragraphs 3.49-3.77) 

1.7.        To note that the fees and charges policy and the General Fund (GF) fees and charges from 1 January 2025 are as agreed by Executive on 28 November 2024. (Paragraph 3.80) 

1.8.        To?agree and recommend to Full Council?that the Section 151?Officer is delegated responsibility for any technical adjustments required for the?2025/26?budget (in line with the?council’s Financial Regulations).  

1.9.        To agree and recommend to Full Council that centrally held demographic growth is allocated to service budgets in-year 2025/26, only once a more evidenced assessment is available and has been approved by the Section 151 Officer.

General Fund Contingency and Reserves (Section 4) 

1.10.     To?agree and recommend to Full Council?the proposed Minimum GF Balance and Earmarked reserves level at 25% of Core Spending Power, and to agree the?movements to/from earmarked reserves assumed as part of the 2025/26 revenue budget.?(Paragraphs 4.4-4.16, Table?11 and Appendix C) 

1.11.     To note the assessment of compliance against the CIPFA Financial Management (FM) Code and that this will be re-visited at least annually as part of the budget process, with any actions or recommendations implemented on an ongoing basis. (Paragraphs 4.17-4.19 and Appendix J)

1.12.     To note the Balance Sheet Analysis to support the MTFS. (Paragraphs 4.20-4.22 and Appendix F)

The HRA Budget and MTFS (Section 5) 

1.13.     To agree and recommend to Full Council, the balanced HRA 2025/26 and note the latest estimates over the 3-year MTFS period. (Table 14, and Appendix D1) 

1.14.     To agree and recommend to Full Council the 2025/26 savings and note that individual savings may be subject to individual consultation before they can be implemented. (Table 15, and Appendix D3) 

1.15.     To note that the  ...  view the full decision text for item 5.