Decision details

Revenue Budget 2019/20

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To recommend to Council the annual budget

Decision:

The Executive, in recommending to Council a budget and Council Tax level for 2019/20:

 

      i.        confirm the original budget proposals, subject to the revisions in section 8.3 of the Director: Finance’s report and those decisions to be taken elsewhere on the Executive agenda on the capital programme;

 

     ii.        agrees the provision for inflation of £2.396m (section 8.2 of the Director: Finance’s report);

 

    iii.        agrees the additional budget proposals as set out in Annexe A and Annexe D and in sections 6.2, 6.3, 6.5, 7.3, 8.3, 9.1, 9.3 and 10.6 of the Director: Finance’s report.

 

   iv.        agrees that the Council should make additional funding available for distribution to schools through the local funding formula at the level set out in section 9.1 of the Director: Finance’s report subject to any minor amendments made by the Executive Member for Children, Young People and Learning following the receipt of definitive funding allocations for Early Years and High Needs pupils;

 

    v.        includes contingencies totalling £2.5m (section 10.6 of the Director: Finance’s report), use of which are to be authorised by the Chief Executive in consultation with the Director of Finance in accordance with the delegations included in the Council’s constitution;

 

   vi.        subject to the above recommendations, confirm the draft budget proposals;

 

  vii.        approves  the Net Revenue Budget before allowance for additional interest from any use of balances as set out in Annexe G of the Director: Finance’s report;

 

 viii.        agrees the contribution of £2.582m to be made from revenue balances (before additional interest from the use of balances) to support revenue expenditure;

 

   ix.        recommends a 2.99% increase in the Council Tax for the Council’s services and that the Council Tax requirement, excluding Parish and Town Council precepts, be set as £59.419m;

 

    x.        recommends that the Council Tax for the Council’s services and that each Valuation Band is set as follows:

 

Band

Tax Level Relative    to Band D

        £

A

6/9

869.22

B

7/9

1,014.09

C

8/9

1,158.96

D

9/9

1,303.83

E

11/9

1,593.57

F

13/9

1,883.31

G

15/9

2,173.05

H

18/9

2,607.66

 

   xi.        recommends that Council approves the following indicators, limits, strategies and policies included in Annexe E of the Director: Finance’s report:

 

·         The Prudential Indicators and Limits for 2019/20 to 2021/22 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 2019/20 to 2021/22 and Treasury Management Limits on Activity contained in Annexe E(iv);

 

  xii.        authorises the Executive Member for Transformation and Finance to agree the Council’s response to the Business Rates and Fair Funding Consultations released with the Provisional Local Government Finance Settlement.

 

 xiii.        approves the virements relating to the 2018/19 budget as set out in Annexe H of the Director: Finance’s report and recommends those that are over £0.100m for approval by Council;

 

 xiv.        recommends Council approves the permanent virements between staff and non-staff budgets set out in Annexe I of the Director: Finance’s report.

Reasons for the decision:

The recommendations are designed to enable the Executive to propose a revenue budget and Council Tax level for approval by Council on 27 February.

Alternative options considered:

Background information relating to the options considered is included in the Director: Finance’s report.

 

Interests and Nature of Interests Declared:

None

Reason Key: Expenditure >£400,000 & Affects more than 1 ward.;

Wards Affected: (All Wards);

Financial Impact: Council’s annual budget.

Declarations: None

Subject to Urgent Proceedings: No

Making Representations: In writing to the Borough Treasurer.

Other reasons / organisations consulted

The Council’s web site, a dedicated mailbox and a letter to all business ratepayers.

Consultees

Targeted consultation exercises will be undertaken with business rate payers, the Schools Forum, Parish Councils and voluntary organisations. In addition, this report and all the supporting information will be publicly available to any individual or group who wish to comment on any proposal included within it. Internal consultation is via officers, members and more specifically the Overview & Scrutiny Commission and its panels.

Contact: Stuart McKellar, Director: Finance Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205, Arthur Parker, Chief Accountant Email: arthur.parker@bracknell-forest.gov.uk Tel: 01344 352158.

Report author: Stuart McKellar

Publication date: 12/02/2019

Date of decision: 12/02/2019

Decided at meeting: 12/02/2019 - Executive

Effective from: 20/02/2019

Accompanying Documents: