[Note – Agenda Items 10.1 (Housing Revenue Account), 10.2 (General Fund Capital and Revenue Budgets) and 10.3 (Treasury Management Strategy Statement) were considered together and the combined minute is presented  under Agenda Item 10.1.]

The Mayor accepted the Reasons for Urgency for the Supplementary Report as stated in the report. Namely that:

The information the subject of this report was only made available on 4 February 2013. It is essential that this information be considered by the Mayor in Cabinet on 13 February 2013 in order to make a decision about the budget which is to go forward for consideration by full council.

Resolved

1.         To agree that a General Fund Revenue Budget of £297.806m and a Council Tax (Band D) of £885.52 for 2013-14 be referred to budget council for consideration.

2.         To note the following matters -

a.    Budget Consultation

The summary provided of the budget consultation, which includes the comments and recommendations of the overview and scrutiny committee.

b.    Funding

The funding available for 2013-14 and the indications and forecasts for future years (section 8) and note the introduction of the new local government funding system (Appendix 2).

c.    Base Budget 2013-14

·         The Base Budget for 2013-14 as £293.865m as detailed in Appendix 1.2.

d.    Growth and Inflation

·         The risks identified from potential inflation and committed growth arising in 2013-14 and future years and as set out in Section 9 and in Appendix 3.

e.   General Fund Revenue Budget and Medium Term Financial Plan 2013-14 to 2015-16

The initial budget proposal and Council Tax for 2013-14 together with the Medium Term Financial Plan set out in Appendix 1 and the savings targets arising.

f.     Savings

Savings items proposed to be included in budgets for 2013-14 and future years set out in Section 10 and in Appendices 4.

g.    Mayors Priorities

Initiatives to be included in the budgets for 2013-14 and 2014-15 set out in Section 10.3 and in Appendix 5.

h.    Capital Programme

The capital programme to 2014-15, including the proposed revisions to the current programme as set out in section 14 and detailed in Appendix 9.

i.      Dedicated Schools Grant

The position with regard to Dedicated Schools Grant as set out in section 12 and Appendix 7.

j.      Housing Revenue Account

The position with regard to the Housing Revenue Account as set out in section 13 and Appendix 8.

k.   Financial Risks: Reserves and Contingencies

Advice on strategic budget risks and opportunities as set out in section 11 and Appendices 6.1, 6.2 and 6.3.

l.     Reserves and Balances

The position in relation to reserves as set out in the report and further detailed in Appendices 6.1 and 6.3, and officers’ advice on the strategy for general reserves at 8.40.

3.         To note the advice of the chief financial officer in relation to resources available to fund one-off priorities in the next two financial years.

4.         To agree to utilise £1m of capital receipts to part fund the Faith Buildings initiative announced at Cabinet on 3^{rd  ...  view the full minutes text for item 10}

1.    To agree to propose the items listed below for public consultation and consideration by the Overview & Scrutiny Committee in accordance with the Budget and Policy Framework (Section 15). A further report will then be submitted to the next Cabinet meeting in February detailing the results of consultations and inviting the Cabinet to recommend a budget Requirement and Council Tax for 2013-14 to Full Council.

a.    Funding

The funding available for 2013-14 and the indications and forecasts for future years (section 8) and note the introduction of the new local government funding system (Appendix 2).

b.    Base Budget 2013-14

The Base Budget for 2013-14 as £293.865m as detailed in Appendix 2.

c.    Growth and Inflation

The risks identified from potential inflation and committed growth arising in 2013-14 and future years and as set out in Section 9 and in Appendix 3.

d.    General Fund Revenue Budget and Medium Term Financial Plan 2013-14 to 2015-16

The initial budget proposal and Council Tax for 2013-14 together with the Medium Term Financial Plan set out in Appendix 1 and the savings targets arising.

e.    Savings

Savings items proposed to be included in budgets for 2013-14 and future years set out in Section 10 and in Appendices 4 and 5.

f.     Capital Programme

The capital programme to 2014-15, including the proposed revisions to the current programme as set out in section 14 and detailed in Appendix 9.

g.    Dedicated Schools Grant

The position with regard to Dedicated Schools Grant as set out in section 12 and Appendix 7.

h.    Housing Revenue Account

The position with regard to the Housing Revenue Account as set out in section 13 and Appendix 8.

i.      Financial Risks: Reserves and Contingencies

Advice on strategic budget risks and opportunities as set out in section 11 and Appendices 6.1, 6.2 and 6.3.

j.      Reserves and Balances

The position in relation to reserves as set out in the report and further detailed in Appendices 6.1 and 6.3, and officers’ advice on the strategy for general reserves at 8.40.

Action by:

SECTION 151 OFFICER, SERVICE HEAD – FINANCIAL SERVICES, RISK & ACCOUNTABILITY (A. FINCH)

[Note – Agenda Items 10.1 (Housing Revenue Account), 10.2 (Council Tax Base Report), 10.3 (General Fund Capital and Revenue Budgets) and 10.4 (Council Tax Support Scheme) were considered together and the combined minute is presented under Item 10.1.]

RESOLVED

1.    To agree to propose the items listed below for public consultation and consideration by the Overview & Scrutiny Committee in accordance with the Budget and Policy Framework (Section 15). A further report will then be submitted to the next Cabinet meeting in February detailing the results of consultations and inviting the Cabinet to recommend a budget Requirement and Council Tax for 2013-14 to Full Council.

a.    Funding

The funding available for 2013-14 and the indications and forecasts for future years (section 8) and note the introduction of the new local government funding system (Appendix 2).

b.    Base Budget 2013-14

The Base Budget for 2013-14 as £293.865m as detailed in Appendix 2.

c.    Growth and Inflation

The risks identified from potential inflation and committed growth arising in 2013-14 and future years and as set out in Section 9 and in Appendix 3.

d.    General Fund Revenue Budget and Medium Term Financial Plan 2013-14 to 2015-16

The initial budget proposal and Council Tax for 2013-14 together with the Medium Term Financial Plan set out in Appendix 1 and the savings targets arising.

e.    Savings

Savings items proposed to be included in budgets for 2013-14 and future years set out in Section 10 and in Appendices 4 and 5.

f.     Capital Programme

The capital programme to 2014-15, including the proposed revisions to the current programme as set out in section 14 and detailed in Appendix 9.

g.    Dedicated Schools Grant

The position with regard to Dedicated Schools Grant as set out in section 12 and Appendix 7.

h.    Housing Revenue Account

The position with regard to the Housing Revenue Account as set out in section 13 and Appendix 8.

i.      Financial Risks: Reserves and Contingencies

Advice on strategic budget risks and opportunities as set out in section 11 and Appendices 6.1, 6.2 and 6.3.

j.      Reserves and Balances

The position in relation to reserves as set out in the report and further detailed in Appendices 6.1 and 6.3, and officers’ advice on the strategy for general reserves at 8.40.