Agenda

2^nd February 2025 – Employment Panel

Pay Policy Statement

That the Employment Panel commend the proposed Pay Policy Statement for 2025-26 for approval by full Council.

That the Employment Panel agree the Council’s proposed pay structure for 2025-26 as set out within the statement and inclusive of revised non-consolidated pay supplements to retain compliance with the Real Living Wage rate of pay.

12^th February 2025 – Cabinet

Annual HRA Budget 2025/26 & Rent Setting

Cabinet approved the following and commend to the Council to:

• Approve the 2025/26 budget for the Housing Revenue Account
• Agree rents to be increased for 2025/26 by 2.7% which is the Government’s maximum allowable increase being September CPI (Consumer Price Index) 1.7% plus 1% with effect from 7th April 2025.
• Shared ownership rents to be increased by 2.7% in line with the provision which is set out within shared ownership agreements with effect from 7th April 2025.
• Approve an increase in Garage rents by CPI as at September 2023 CPI + 1% 2.7%.
• Approve an increase in Sheltered Management and Support Charges by CPI + 1% 2.7%.
• Approve an increase in Service and Amenity Charges by CPI + 1% 2.7%
• Approve an increase in Support and Heating charges by CPI + 1% 2.7%
• Approve an increase in Furnished Tenancy charges by CPI+ 1% 2.7%
• Note that where a social rent property is re-let to a new or transferring tenant the rent level will be increased to the formula rent (target rent) for that property. In accordance with the Rent Standard, where an affordable rent property is re-let to a new or transferring tenant the rent level be set by reference to 80% of the market rent (including service charges where applicable) for a similar property at the time of letting or the formula rent for the property, whichever is the greater.

12^th February 2025 – Cabinet

The Council’s 2025/26 Revenue Budget and Medium-Term Financial Strategy (MTFS) for 2026/27 through to 2027/28

• Approve the Medium-Term Financial Strategy to 2027/28 and the assumptions regarding resources and spending requirements.
• Approve the Council Tax base for Bury Council for 2025/26 of 58,697.86 Band D equivalent dwellings, this is the basis on which the Council Tax funding has been calculated (Appendix 1).
• Approve the net revenue budget of £238.256m for 2025/26. Page 32
• Approve the Council Tax requirement of £118.296m and the increase in Council Tax in 2025/26 of 2.99% in terms of General Council Tax and a further 2% for the Adult Social Care precept for 2025/26 (Appendix 1).

·         Approve the budget assumptions of £23.210m in 2025/26. Approve the new revenue budget proposal relating to residents parking permits pricing structure for consultation and referred to Council for their consideration.

• Note the remaining budget gap of £11.571m over the medium-term to 2027/28.
• Approve the use of £5.858m of reserves from the budget stabilisation reserve for 2025/26.
• Note the forecast position on reserves over the medium-term to 2027/28.
• Approve the recommendations set out in the Treasury Management Strategy (Appendix 2)  ...  view the full agenda text for item 6.