Issue - meetings

Background:

This report provided details of progress towards setting the Council’s draft capital and revenue budgets for 2020/21. It was noted that the draft budget was based on the principles contained in the Medium Term Financial Strategy (MTFS) 2019-2024, which had been approved by Cabinet on 24 September 2019 and reflected the latest formula grant assumptions. Draft budget requirements for the directorates in 2020/21 were set out in Appendices 1-3 to the report.

It was reported that there was currently a £5.956 million revenue budget deficit for 2020/21, increasing to £17.327 million by 2023/24 which would need to be addressed through the budget setting process. Whilst officers had been working with Portfolio Holders to formulate savings proposals to address the projected revenue budget deficit, little of this work had progressed sufficiently to be reflected in the draft budget proposals. In addition, the latest revenue budget monitoring report for round 2 was set out at agenda item 12.

In relation to the capital programme, it was reported that the existing programme, totalling £295.867 million, reflected planned capital expenditure over the medium term. This did not incorporate recommended additions to the Capital Programme which were detailed at agenda item 13 (Capital Budget Monitoring – Round 2 2019/20) and were due to be reported to Council on 23 January 2020 for approval.

In accordance with the Constitution, this report was the first stage of the budget consultation process leading to further consideration by Cabinet on 4 February 2020 and formal budget and council tax setting by Council on 20 February 2020. Budget proposals would now be submitted to the Council’s overview and scrutiny committees, as set out in paragraph 13.2 of the report.

Reasons:

It is the responsibility of Cabinet to develop draft budget proposals for consideration by overview and scrutiny committees. These draft proposals are the first stage of the budget consultation process leading to further consideration by Cabinet on 4 February 2020 and formal council tax setting by Council on 20 February 2020.

The timetable for consideration by overview and scrutiny is as follows: