Issue - items at meetings - FP951 2020/21 Budget Proposals and Medium Term Financial Forecasts
Issue - meetings
FP951 2020/21 Budget Proposals and Medium Term Financial Forecasts
Meeting: 03/02/2020 - Council (Item 43)
43 BUDGET PROPOSALS AND MEDIUM TERM FORECASTS 2020/21 PDF 231 KB
Report of the Corporate Director (Resources, Environment and Cultural Services) presenting to the Council the 2020/21 budget proposals for approval.
Additional documents:
- Appendix A - General Fund Summary 2020-21, item 43 PDF 27 KB
- Appendix B - General Fund Head of Service Summaries 2020-21, item 43 PDF 114 KB
- Appendix C - Revenue Efficiencies 2020-21, item 43 PDF 150 KB
- Appendix D - Revenue Growth 2020-21, item 43 PDF 154 KB
- Appendix E - General Fund Fees and Charges 2020-21, item 43 PDF 939 KB
- Appendix F Housing Revenue Account Summary 2020-21, item 43 PDF 60 KB
- Appendix G - Housing Revenue Account Summary of changes 2020-21, item 43 PDF 292 KB
- Appendix H - Housing Revenue Account Fees and Charges 2020-21, item 43 PDF 92 KB
- Appendix I - Capital Programme 2019-20 to 2024-25, item 43 PDF 141 KB
- Appendix J - Capital Financing Summary 201920 to 202425, item 43 PDF 35 KB
- Appendix K - Capital Reserve and Grant balances 201920 to 202425, item 43 PDF 44 KB
- Appendix L - Medium Term Financial Strategy and Financial Governance Framework, item 43 PDF 844 KB
- Appendix M - Special Expenses, item 43 PDF 254 KB
- Appendix N - Statement of the Chief Finance Officer V2, item 43 PDF 102 KB
- Proposed Budget Amendments, item 43 PDF 174 KB
Minutes:
Report of the Corporate Director (Resources, Environment and Cultural Services) presenting to the Council the 2020/21 budget proposals for approval.
It was moved and seconded by Councillors D.Bell and T.Kingsbury that the recommendations in the report be approved.
Meeting: 06/01/2020 - Cabinet (Item 84)
84 Budget Proposals and Medium Term Forecasts 2020/21 (Forward Plan Reference FP951) PDF 192 KB
Report of the Corporate Director (Resources, Environment and Cultural Services) presenting the budget proposals for 2020/21.
(Note: This report will be considered at the Resources Overview and Scrutiny Committee meeting on 8 January 2020).
Additional documents:
- 7b - Appendix A General Fund Summary 2020-21, item 84 PDF 22 KB
- 7b - Appendix B General Fund 2020-21, item 84 PDF 75 KB
- 7b - Appendix C Revenue Efficiencies 2020-21 (GF), item 84 PDF 150 KB
- 7b - Appendix D Revenue Growth 2020-21 (GF), item 84 PDF 154 KB
- 7b - Appendix E Fees and Charges 2020-21 (GF), item 84 PDF 891 KB
- 7b - Appendix F Housing Revenue Account Summary 2020-21, item 84 PDF 60 KB
- 7b - Appendix G - Housing Revenue Account Summary of changes 2020-21, item 84 PDF 292 KB
- 7b - Appendix H Housing Revenue Account Fees and Charges 2020-21, item 84 PDF 138 KB
- 7b - Appendix I Capital expenditure Programme 201920 to 202425, item 84 PDF 167 KB
- 7b - Appendix J - Capital Financing Summary 201920 to 202425, item 84 PDF 35 KB
- 7b - Appendix K - Capital Reserve and Grant balances 201920 to 202425, item 84 PDF 44 KB
- 7b - Appendix L - MTFS and Strategies 202021 to 202223, item 84 PDF 2 MB
Decision:
The Cabinet approved the following budget proposals and noted that any comments from the Resources Overview and Scrutiny Committee would be returned to the Special Cabinet on 21 January 2020 for consideration, before final recommendations were made to the Council:
General Fund
(1) The proposed General Fund Budget as summarised in Appendix A, and detailed in Appendix B.
(2) The inclusion of the savings and growth proposals into the budget as detailed in Appendices C and D.
(3) The approval of the 2020/21 fees and charges which have been incorporated into the budget proposals, as set out in Appendix E.
(4) The increase in the Council’s Band D Tax of £3.15 (1.49%), taking the average Band D Tax to £214.92 for 2020/21.
(5) That £100,000 be added to the Climate Change earmarked reserve from the 2020/21 budget, the expenditure of which will be delegated to the Corporate Director (Resources, Environment and Cultural Services) and Corporate Director (Planning, Public Protection and Governance), in consultation with the Executive Members (Resources), and (Governance, Public Health and Climate Change) and the Cross Party Climate Change Member Group.
(6) That £1.2M be added to the Pensions earmarked reserve from the 2020/21 budget to help the Council meet its potential pensions liability in year three of the proposed medium term financial strategy with the current balance of the reserve being used towards an additional payment to the fund in 2019/20 as required by the pensions actuary.
(7) That the Budget Priority and Transformation earmarked reserve be renamed as Modernisation reserve and that authority for its expenditure be delegated to the Modernisation Board (Chief Executive, Corporate Directors and Corporate Modernisation Lead), in consultation with the Leader and Executive Member (Resources).
Housing Revenue Account (HRA)
(1) That dwelling rents be increased by CPI+1% in accordance with Government legislation, resulting in an average rent of £106.16 per week.
(2) The continuation of the policy to charge formula rent when vacant properties are re-let.
(3) The approval of the Housing Revenue Account budget for 2020/21 as shown in Appendix F.
(4) The approval of the 2020/21 fees and charges which have been incorporated into the budget proposals, as set out in Appendix H.
(5) The Medium Term Financial Strategy (MTFS) to maintain HRA working balances to around 5% of rental income.
Capital Programme
(1) The approval of the Capital Programme for 2020/21 to 2024/25 as set out in Appendix I.
(2) The approval of the Capital Financing for the Capital Programme for 2020/21 to 2024/25 as set out in Appendix J, and noting the forecast capital balances in Appendix K.
Medium Term Financial Strategy
(1) The approval of the Medium-Term Financial Strategy and Financial Governance Framework, including all annexes and prudential indicators for 2020/21 – 2022/23 as set out in Appendix L.
Minutes:
Report of the Corporate Director (Resources, Environment and Cultural Services) presenting the budget proposals for 2020/21.
(1) The Decision Taken
RESOLVED:
That the Cabinet approves the following budget proposals and notes that any comments from the Resources Overview and Scrutiny Committee would be returned to the Special Cabinet on 21 January 2020 for consideration, before final recommendations were made to the Council:
General Fund
(1) The proposed General Fund Budget as summarised in Appendix A, and detailed in Appendix B.
(2) The inclusion of the savings and growth proposals into the budget as detailed in Appendices C and D.
(3) The approval of the 2020/21 fees and charges which had been incorporated into the budget proposals, as set out in Appendix E.
(4) The increase in the Council’s Band D Tax of £3.15 (1.49%), taking the average Band D Tax to £214.92 for 2020/21.
(5) That £100,000 be added to the Climate Change earmarked reserve from the 2020/21 budget, the expenditure of which would be delegated to the Corporate Director (Resources, Environment and Cultural Services) and Corporate Director (Planning, Public Protection and Governance), in consultation with the Executive Members (Resources) and (Governance, Public Health and Climate Change) and the Cross Party Climate Change Member Group.
(6) That £1.2M be added to the pensions earmarked reserve from the 2020/21 budget to help the Council meet its potential pensions liability in year three of the proposed medium term financial strategy with the current balance of the reserve being used towards an additional payment to the fund in 2019/20 as required by the pensions actuary.
(7) That the Budget Priority and Transformation earmarked reserve be renamed as Modernisation reserve and that authority for its expenditure be delegated to the Modernisation Board (Chief Executive, Corporate Directors and Corporate Modernisation Lead), in consultation with the Leader and Executive Member (Resources).
Housing Revenue Account (HRA)
(1) That dwelling rents be increased by CPI+1% in accordance with Government legislation, resulting in an average rent of £106.16 per week.
(2) The continuation of the policy to charge formula rent when vacant properties were re-let.
(3) The approval of the Housing Revenue Account budget for 2020/21 as shown in Appendix F.
(4) The approval of the 2020/21 fees and charges which had been incorporated into the budget proposals, as set out in Appendix H.
(5) The Medium Term Financial Strategy to maintain Housing Revenue Account working balances to around 5% of rental income.
Capital Programme
(1) The approval of the Capital Programme for 2020/21 to 2024/25 as set out in Appendix I.
(2) The approval of the capital financing for the capital programme for 2020/21 to 2024/25 as set out in Appendix J, and noting the forecast capital balances in Appendix K.
Medium Term Financial Strategy
(1) The approval of the Medium-Term Financial Strategy and Financial Governance Framework, including all annexes and prudential indicators for 2020/21 – 2022/23 as set out in Appendix L.
(2) Reasons for the Decision
This report would go on for consideration by the Resources ... view the full minutes text for item 84