Agenda and draft minutes

The Worshipful the Mayor welcomed everyone to the meeting and outlined the arrangements for the meeting.

The meeting was reminded that Members who had been granted a dispensation for four years could fully take part in the debate and vote on the setting of council tax, precepts and Members’ allowances. The exception was if any Member was in arrears of their council tax payments of at least two months. In this case, the Member had to declare the arrears and could not take part in the vote. 

Cllr Kevin Faulks declared an interest for transparency purposes in item 4 – Medium Term Financial Update and Strategy - as a family member worked for Spark of Genius.

Council considered the final report setting the Council’s 2025/26 Budget and Council Tax and outlining the Medium-Term Financial Plan (MTFP) position to 2028. The report also included an update on the financial performance for 2024/25.

The report outlined the budget for 2025/26 and indicative MTFP for future years. The provisional finance settlement had been received on 18th December 2024, and this indicated the funding for 2025/26, with the final allocations to be confirmed in February. In order to prepare a Medium-Term Financial Plan, assumptions had been made in respect of future years, however, this funding was extremely uncertain and subject to future Government spending reviews. 

The Provisional Financial Settlement had provided funding allocations for 2025/26 only. The Government had indicated that there would be reforms to Local Government Finance from 2026/27 onwards and would take forward the fair funding review, also considering the reset of Business Rates. Government have indicated there would be a multi-year settlement from 2026/27 onwards.

It was moved by Councillor Bob Cook and seconded by Councillor Lisa Evans:

1.         That in accordance with the Local Government Act 2003, Members note that the Section 151 Officer confirms that the following recommendations:

a)         represent a robust budget which has been prepared in line with best practice;

b)         provide adequate working balances;

c)         that the controlled reserves and provisions are adequate for their purpose.

General Fund Budget

2.         A 2025/26 Council Tax requirement for Stockton-on-Tees Borough Council of £124,538,859 be approved.

3.         A 2025/26 Council Tax requirement for Stockton-on-Tees Borough Council inclusive of Parish Precepts £125,612,202 be approved.

4.         The 2025/26 budget and indicative 2026/28 MTFP as outlined in paragraphs 20-46, the level of General Fund Balances and the release of reserves to balance the 2024/25 in year financial position as set out in paragraphs 14-19 be approved.

5.         The existing £6m prudential borrowing approval for investment in Children’s Services residential homes and Spark of Genius be revised and replaced with a Council wide investment fund of £20m from prudential borrowing for self-funding capital investments linked to transformation of Services. This could include investments relating to climate change. Individual schemes will need to be approved by Cabinet.

6.         The use of £950,000 of Prudential Borrowing to fund the investment required at Preston Park covered within the Levelling Up Fund Preston Park Museum and Grounds Enhancements report to Cabinet on 16th January 2025 be approved.

Taxation

SBC

7.         The Council Tax for Stockton-on-Tees Borough Council prior to Parish, Fire and Police Precepts be increased by 4.95%, which includes the Government Levy of 2% in respect of Social Care, i.e. to £2,038.98 at Band D (£1,359.32 at Band A).

Fire, Police & Parish

8.         Council note the Police & Crime Commissioner has set a precept of £19,406,631 which equates to a Council Tax of £317.73 at Band D (£211.82 at Band A).

9.         Council note the Fire Authority is proposing a precept of £5,769,522 which equates to a Council Tax of £94.46 at Band D (£62.97 at Band A).

10.       Council note the  ...  view the full minutes text for item COU/71/24