Agenda item

Capital and Revenue Budgets 2019/2020

Minutes:

Background:

 

This report presented proposals for the capital and revenue budgets for 2019/2020.

 

It was noted that the Cabinet had considered initial budget proposals on 20 November 2018, which had been developed in accordance with the principles set out in the Medium Term Financial Strategy (MTFS). The MTFS had identified a potential revenue shortfall of £3.189 million in 2019/2020 rising to £16.330 million by 2022/2023.

 

The report stated that the proposed revenue budget requirement of £298.403 million (as set out in Appendix 2 to the report) exceeded the estimated available resources by £660,900. However, options were being considered to address this prior to the Council’s budget setting meeting on 21 February 2019. 

 

The proposed capital programme for 2019/2020, incorporating existing schemes and anticipated funding allocations, was £229 million. An overall summary and a summary by directorate of the proposed capital programme were attached at Appendix 4 to the report.

 

It was noted that budget proposals had been referred to all the Overview and Scrutiny Committees for consideration. The Overview and Scrutiny Committees’ views together with the recommendations of the Business Support Overview and Scrutiny Committee (31 January 2019) were set out for Cabinet in an addendum report.

 

The schedule of fees and charges was set out in Appendix 6 to the report.

 

The report set out the requirements under equality legislation and it was noted that an overarching Diversity Impact Assessment would be included in the budget report to Full Council on 21 February 2019.

 

Decision number:

Decision:

The Cabinet noted the comments from overview and scrutiny committees as summarised in Appendix 1 to the report.

13/2019

The Cabinet recommended to Council that the net revenue budget summarised at Appendix 2 to the report, should be set at £297.742 million, and that this should be funded by a 2.994% increase in Council Tax for 2019/20 with the equivalent Band D figure at £1,412.44. Final proposals to address the £661,000 deficit would be reported to Council on 21 February 2019.

14/2019

The Cabinet recommended to Council the capital budget proposals, as set out in Appendix 4 to the report.

15/2019

The Cabinet recommended to Council the fees and charges set out at Appendix 6 to the report, subject to the removal of a number of the proposed increases including some bulky waste collection increases and some parking charge increases which would be recommended to Special Council on 21 February 2019.

16/2019

The Cabinet agreed that the Chief Finance Officer be requested to calculate the formal requirements under Sections 30 to 36 of the Local Government Finance Act 1992 for resolution by Special Council on 21 February 2019.

17/2019

The Cabinet recommended to Council to agree to delegate authority to the Chief Finance Officer, in consultation with the Leader and relevant Portfolio Holder, to vary existing fees and charges and introduce new fees charges during the financial year on the basis set out in paragraphs 10.3 and 10.4 of the report.

 

Reasons:

 

The constitution requires that Cabinet’s budget proposals must be forwarded to Council for consideration and approval.

 

The Council is required by statute to set a budget and council tax levels by 11 March each year.

Supporting documents: