Issue - meetings

To recommend the General Fund Revenue Budget 2017/18 to Council. The annexes to this item will be circulated as a supplementary paper.

RESOLVED that the Executive, in recommending to Council a budget and Council Tax level for 2017/18:

1.

i)              confirmed 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;

ii)             agreed the provision for inflation of £1.553m (section 8.2);

iii)            agreed the additional budget proposals as set out in Annexe A and Annexe D and in sections 6.2, 6.3, 7.3 and 7.4;

iv)           agreed that the Council should fund the Schools budgets at the level set out in section 9.1 subject to any 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)            Included a contingency of £2.000m (section 10.6), 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;

2.         Subject to the above recommendations, confirmed the draft budget proposals;

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

4.         Agreed a £2.542m contribution from revenue balances (before additional interest from the use of balances) to support revenue expenditure;

5.         Recommended that the Council Tax requirement, excluding Parish and Town Council precepts, be set as £53.247m;

6.         Recommended a 4.99% increase in the Council Tax for the Council’s services and that each Valuation Band is set as follows:

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

·      The Prudential Indicators and Limits for 2017/18 to 2019/20 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 2017/18 to 2019/20 and Treasury Management Limits on Activity contained in Annexe E(iv);

8.         Approved the virements relating to the 2016/17 budget as set out in Annexe H.

9.         Approved the write-off of the Business Rates debt referred to in paragraph 16.1.