Decision details

1          No changes to the budget proposals are required as a result of the budget consultation (section 7.1 of the report), be agreed.

2          The provision for inflation of minus £0.068m (section 7.2 of the report) be agreed;

3          The changes to the budget proposals as set out in Annexe A and Annexe D and in section 7.3 of the report be agreed;

4          The Council should fund the Schools budgets at the level set out in section 8.1 of the report subject to any amendments made by the Executive Member for Education be agreed;

5          Includes a general contingency of £1.000m, use of which to be authorised by the Executive Member for Finance, Resources and Assets and Chief Executive (section 9.5 of the report);

6          Subject to the above recommendations confirms the draft budget proposals, including changes to incorporate current information in section 7.3 (Annexe D);

7          The total expenditure before allowance for loss of interest from any use of balances of £74.581m, as shown in Table 6 (section 10 of the report) be agreed;

8          The contribution to be made from revenue balances to support revenue expenditure of £0.557m be agreed;

9          The Council’s total requirement for the Collection Fund, excluding Parish Council precepts, be set as £74.030m;

10        The Council Tax for the Council’s services for each Valuation Band be set as follows:

11        The Council approves the following indicators, limits, strategies and policies included in Annexe E be recommended:

·         The Prudential Indicators and Limits for 2010/11 to 2012/13 contained within Annexe E(i);

·         The Minimum Revenue Provision (MRP) Policy contained within Annexe E(ii);

·         The Treasury Management Strategy Statement, and the Treasury Prudential Indicators contained in Annexe E(iii);

·         The Authorised Limit Prudential Indicator in Annexe E(iii);

·         The Investment Strategy 2010/11 to 2012/13 and Treasury Management Limits on Activity contained in Annexe E(iv);

·         The revised Treasury Policy Statement contained in Annexe E (v). This revision nominates the Governance and Audit Committee to be responsible for examining and assessing the effectiveness of the Treasury management Strategy and Policies;

12        The Council approve the payment of £1.162m for the surrender of the lease of Enid Wood House as set out in section 11.3.3;

13        The virements relating to the 2009/10 budget as set out in section 15 be approved.

The recommendations are designed to enable the Executive to propose a revenue budget and Council Tax level for approval by Council on 3 March.

Background information relating to the options considered is included in the report.

None.

Open consultation.  All views welcome.