Agenda and minutes

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2025 - 2029 Financial Planning and Budget Process - Cabinet's Updated Budget Proposals.

Councillor Karen Clark, Disclosable Pecuniary, Councillor Clark is an unpaid director & CEO of Justice Prince CIC. The organisation contracts with North Tyneside Council and also receives funding.

Councillor Clark removed herself from this section of the meeting.

2025 - 2029 Financial Planning and Budget Process - Cabinet's Updated Budget Proposals.

Councillor Karen Clark, Registerable Personal, Councillor Clark is a co-opted governor on the Northumbria Health Care Trust.

Councillor Clark has a dispensation granted in relation to this role, however she had already removed herself from the meeting for consideration of this item.

2025 - 2029 Financial Planning and Budget Process - Cabinet's Updated Budget Proposals.

Councillor Peter Earley, Registerable Personal, Councillor Early is a Trustee of North Tyneside Carers Centre.

The report represents a key milestone in the development of the Authority’s 2025/26 Budget and 2025-2029 Medium-Term Financial Plan (MTFP). The report sets out Cabinet’s updated Budget proposals for the next financial year and the remainder of the MTFP.

The budget and MTFP position has been updated to reflect the impact of the Provisional Local Government Settlement (the Settlement) for 2025/26, which was announced on 18 December 2024. Further details of the Settlement are included in Section 5 of the Annex to the report.

In its report of 25 November 2024, Cabinet set out the estimates for proposed spending and resource plans for the Housing Revenue Account (HRA), including the proposed changes to rents and service charges, and the associated Investment Plan for the period 2025 to 2029.

The proposed HRA spending plans have been updated to reflect the 2024/25 in-year monitoring position and Cabinet is now formally asked to approve the proposed spending and resource plans for the HRA revenue budget for 2025/26 and the HRA Investment Plan. This includes a proposed 2.7% rent increase from April 2025 in line with Government policy.

Cabinet was presented with the Authority’s updated Budget proposals for onward consideration by full Council at the meeting of full Council which wqs scheduled to take place in February 2025. Cabinet was presented with the findings from the Budget Study Sub-group report that was agreed by Overview and Scrutiny Co-ordination & Finance Committee at its meeting on 15 January 2025. Councillor Montague, Chair of Overview and Scrutiny Co-ordination and Finance Committee and Chair of the Budget Study Group, presented the findings of the Budget Study Group to Cabinet.

Cabinet heard that as in previous years cross-party membership of the Budget Study Group had been arranged. The cross-party Budget Study Group has met four times since 25 November 2024, and had considered Cabinet’s initial budget proposals in great detail. This detailed review was reflected in the 16 recommendations from Budget Study Group which were set out on pages 274 to 276 of the Cabinet agenda for the meeting on 27 January 2025. 

Cabinet commented that the Scrutiny Process is a vital element of the budget setting process for the General Fund and the Housing Revenue Account,  

and that thanked the Budget Study Group for the thorough scrutiny process which had been undertaken. Cabinet stated that the points raised by Budget Study Group would be taken into account when finalising the budget proposals.

Cabinet commented that this year is the final year of the “Our North Tyneside Plan” which set out the Authority’s priorities for the Borough from 2021-2025.  Progress which had been made in respect of the priorities in that Plan was highlighted, including the building of additional care homes, the Poverty Intervention Fund, and progress with the environment and investment. Regeneration in Whitley Bay, Wallsend and North Shields was discussed along with the regeneration plans recently commencing in the North West of the borough.

Cabinet commented that the quality of education in our schools remains high, and that the Authority’s Children’s Services have recently been judged in all areas as ‘Outstanding’.

Cabinet commented that the Authority is one of only five local authorities in the country rated as Outstanding in all areas., This was seen as testament to the dedication by all colleagues to achieve the best outcomes for the Authority’s youngest residents.

Cabinet commented that the Authority is building hundreds of new, affordable homes, and continuing to invest additional funding to repair roads and paths.

Cabinet was also reminded that the proposals forecast an extra £33m of pressure on the Authority funds. This was mainly through unprecedented demand on the Authority’s Children’s Services, and is a challenge felt by all other Children’s Services regionally and nationally. As a result of this, and despite significant savings action already taken, November’s budget proposal had included a £3.9m shortfall for the next year.

Cabinet was informed that after funding adjustments and more efficiencies identified, the Authority was now in a position to present a balanced budget for 2025/2026.

Cabinet was informed that the proposals have been updated to reflect an increase in  ...  view the full minutes text for item CAB94/24

Monday 3 February 2025 at 6.00pm (Extraordinary Meeting)

Monday 17 February 2025 at 6.00pm (Ordinary Meeting)

Monday 3 February 2025 at 6.00pm (Extraordinary Meeting). To be held in room 3.09.

Monday 17 February 2025 at 6.00pm (Ordinary Meeting).