Issue - meetings

Report of the Deputy Chief Executive of Resources and Transformation (Section 151 Officer) attached.

RESOLVED (Unanimously)

That:

1.    Cabinet recommends full Council to approve the 2019/20 Budget and Medium Term Financial Plan 2019/20 to 2022/23 on 27 February 2019.

2.    Cabinet grants approval of the Reserve estimate for 2018/19 as set out in Appendix A.

3.    Cabinet grants approval of the Revenue Budget for 2019/20 and the Medium Term Financial Strategy (MTFS) 2019/20 through to 2022/23.

4.    Cabinet grants approval of the Corporate Asset Management Plan.

5.    Cabinet grants approval of the Capital and Investment Strategy.

6.    Cabinet grants approval of the Capital Programme 2019/20 to 2022/23.

7.    Cabinet grants approval of the Treasury Management Policy Statement.

8.    Cabinet recommends full Council to set a Council Tax increase of 1.99% on 27 February 2019.

The Cabinet considered a report of the Deputy Chief Executive Resources and Transformation (Section 151 Officer) that set out the proposed 2019/20 Revenue Budget for the Council and Medium Term Financial Strategy for the next four years and sought approval and recommendation to Council on various elements.

This financial plan for the Council is aligned to the Corporate Plan and provides the financial detail on how the Council will deliver its ambitions and services for its residents.

A Member outside of Cabinet asked for clarification on the continuation of New Homes Bonus payments to County Council as part of the City Deal following the Fair Funding changes proposed in 2020/21. The Deputy Chief Executive, Resources and Transformation explained that any changes would need to be worked through to make sure that any new arrangement benefited the Council. 

In response to a member of the public, the Deputy Chief Executive for Resources and Transformation also provided assurance that the Council would meet the £150k efficiency saving that had been identified over the next four years, explaining that this was down to natural staff turnover.

Decision made (Unanimously)

That:

1.    Cabinet recommends full Council to approve the 2019/20 Budget and Medium Term Financial Plan 2019/20 to 2022/23 on 27 February 2019.

2.    Cabinet approved the Reserve estimate for 2018/19.

3.    Cabinet approved the Revenue Budget for 2019/20 and the Medium Term Financial Strategy (MTFS) 2019/20 through to 2022/23.

4.    Cabinet approved the Corporate Asset Management Plan.

5.    Cabinet approved the Capital and Investment Strategy.

6.    Cabinet approved the Capital Programme 2019/20 to 2022/23.

7.    Cabinet approved the Treasury Management Policy Statement.

8.    Cabinet recommends full Council to set a Council Tax increase of 1.99% on 27 February 2019.

Reason(s) for the decision:

Cabinet recommends the budget for approval to full Council for 2019/20 as per Local Government Finance Act 1992 to set a Council Tax for 2019/20 by 11 March 2019. The Corporate Policy Framework is updated to reflect the revised reports above and to include the Corporate and Investment Framework and Capital Programme in our Constitution.

The report also provides the overall strategy for the Council for the next four years that will enable delivery of the Corporate Plan ambitions. It sets out a clear affordable programme of investment, organisational development and growth. All of these factors are summarised in the four year MTFS to be recommended to Council. The MTFS allows for spending to be made to deliver changes and improvements and for funding to be generated to pay for future capital spending and liabilities.

Alternative Options Considered and Rejected:

None.