Decision details

Medium Term Financial Strategy 2022/23 - 2024/25

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No


RESOLVED that it was recommended to Full Council that:


A     The Medium Term Financial Strategy for 2022/23 to 2024/25 (attached as appendix B to the report) is adopted.


B    The planned Council Tax (HDC element) 0 percent increase for 2022/23 as set out in the Medium Term Financial Plan be approved.


C    That the proposals regarding the Council’s Reserves as set out in paragraphs 5(c) and 22 - 35 of the report are agreed resulting in the release of £1,355,000 from reserves in 2022/23 to provide £993,000 funding for the proposed efficiency dividend set out in the General fund budget report elsewhere on the Cabinet agenda and to create a new Estates Renewal Fund of £363,000.


D    That the New Homes Bonus for 2022/23 totalling £1.165 million, is applied to part fund the efficiency dividend (£830,000) and to also increase the Budget Resilience Reserve (£335,000) which in turn will be applied to support the proposals relating to 0 percent council tax increases (HDC element) in 2023/24 and 2024/25.


E     That subject to recommendations C and D being approved an efficiency dividend of £50 per eligible property be approved as a one off arrangement for the 2022/23 financial year.


F     That in respect of the Harlow Council element, the MTFS includes plans for a 0 percent council tax increases in 2023/24 and 2024/25.

Report author: Simon Freeman

Publication date: 28/01/2022

Date of decision: 27/01/2022

Decided at meeting: 27/01/2022 - Cabinet

Accompanying Documents: