Decision details

To recommend to Council the annual revenue budget.

The Executive, in recommending to Council a budget and Council Tax level for 2018/19:

a.            Confirms the original budget proposals, subject to the revisions in section 8.3 and those decisions to be taken elsewhere on this agenda on the capital programme;

b.         Agrees the provision for inflation of £2.422m (section 8.2);

c.         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 and 8.3;

d.         Agrees additional expenditure of £0.226m, for preventative activities relating to adults with mental health needs, to be funded from the additional Adults Social Care Support Grant (-£0.226m) included in the Final Local Government Finance Settlement for 2018/19.

e.         Agrees that the Council should fund the Schools budgets at the level set out in section 9.1 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;

f.          Includes a contingency of £2.500m (section 10.7), use of which is to be authorised by the Chief Executive in consultation with the Borough Treasurer in accordance with the delegations included in the Council’s constitution;

g.         Subject to the above recommendations, confirms the draft budget proposals;

h.         Approves the Net Revenue Budget before allowance for additional interest from any use of balances as set out in Annexe G;

i.          Agrees the contribution of £2.484m to be made from revenue balances (before additional interest from the use of balances) to support revenue expenditure;

j.          Recommends a 2.99% increase in the Council Tax for the Council’s services plus an additional 3% increase representing an Adult Social Care precept and that the Council Tax requirement, excluding Parish and Town Council precepts, be set as £57.345m;

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

l.          Recommends that the Council approves the following indicators, limits, strategies and policies included in Annexe E:

·      The Prudential Indicators and Limits for 2018/19 to 2020/21 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 2018/19 to 2020/21 and Treasury Management Limits on Activity contained in Annexe E(iv);

j.          Approves the virements relating to the 2017/18 budget as set out in Annexe H.

The recommendations are designed to enable the Executive to propose a revenue budget and Council Tax level for approval by Council on 28 February 2018.

Background information relating to the options considered are included in the Chief Executive/Borough Treasurer’s report.

None

Information will be provided on the Council's website; a letter will be sent to all business ratepayers and there will be a dedicated mailbox for comments.

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.