Decision details

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:

   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.

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

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

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