Decision details

Revenue Budget 2022/23

Decision Maker: Executive Member for Transformation & Finance

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To recommend to Council the annual budget

Decision:

RECOMMENDED to Council that:

 

1          The provision for inflation of £4.368m (section 8.2) be agreed;

 

2          A further council tax discount in 2022/23 of £100 for working age households receiving council tax support and that further consideration be given to discounts in subsequent years’ budgets, as summarised in paragraph 8.3.1a) and detailed in Annexe H be approved.

 

3          Further development of the additional preventative actions aimed at helping households experiencing or at risk of experiencing financial hardship as set out in Annexe H be endorsed;

 

4          The original budget proposals be confirmed, subject to the revisions in section 8.3.1b) – 8.3.1j) and those decisions to be taken elsewhere on this agenda on the capital programme;

 

5          The additional budget proposals as set out in Annexe A and Annexe D and in sections 6.2 (RSG), 6.3 (specific grants), 6.4 (business rates), 7.3 (collection fund) and 8.3 (updated pressures & savings) be agreed;

 

6          Agree 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 subject to any minor amendments made by the Executive Member for Children, Young People and Learning following the receipt of definitive funding allocations for High Needs pupils;

 

7          Include a general contingency totalling £1.900m (section 10.7) use of which is to be authorised by the Chief Executive in consultation with the Executive Director: Resources in accordance with the delegations included in the Council’s constitution;

 

8          Subject to the above recommendations, confirm their support for the draft budget proposals;

 

9          The Net Revenue Budget before allowance for additional interest from any use of balances as set out in Annexe G be approved;

 

10        The contribution of £0.768m to be made from revenue balances (before additional interest from the use of balances) to support revenue expenditure be approved;

 

11        A 4.49% 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 £70.742m;

 

12        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

  977.46

B

7/9

1140.37

C

8/9

1303.28

D

9/9

1466.19

E

11/9

1792.01

F

13/9

2117.83

G

15/9

2443.65

H

18/9

2932.38

 

 

13        That the Council be recommended to approve the following indicators, limits, strategies and policies included in Annexe E:

 

           The Prudential Indicators and Limits for 2022/23 to 2024/25 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 2022/23 to 2024/25 and Treasury Management Limits on Activity contained in Annexe E(iv);

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 23 February.

Alternative options considered:

Background information relating to the options considered is included in the 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 Executive Director: Resources

Other reasons / organisations consulted

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.

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

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

Publication date: 08/02/2022

Date of decision: 08/02/2022

Effective from: 16/02/2022