Issue - meetings

Revenue Budget 2020/21

Meeting: 11/02/2020 - Executive (Item 46)

46 Revenue Budget 2020/21 pdf icon PDF 373 KB

To recommend to Council the annual budget

Additional documents:

Minutes:

That the Executive, in recommending to Council a budget and Council Tax level for 2020/21:

 

                           i.          Confirms 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 this agenda on the capital programme;

 

                          ii.          Agrees the provision for inflation of £1.998m (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, 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 £2.250m (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, confirms 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 £0.375m to be made from revenue balances (before additional interest from the use of balances) to support revenue expenditure;

 

                        ix.          Recommends a 3.99% 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 £63.475m;

 

                          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

903.90

B

7/9

1,054.55

C

8/9

1,205.20

D

9/9

1,355.85

E

11/9

1,657.15

F

13/9

1,958.45

G

15/9

2,259.75

H

18/9

2,711.70

                        xi.          Recommends that the 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 2020/21 to 2022/23 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 2020/21 to 2022/23 and Treasury Management Limits on Activity contained in Annexe E(iv);

 

                       xii.          Approves the virements relating to the 2019/20 budget as set out in Annexe H of the Director:Finance’s report.

 


 

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Email: committee@bracknell-forest.gov.uk