Issue - meetings
General Fund Revenue and Capital Budget and Medium Financial Plan 2017/18 to 2019/20
Meeting: 07/02/2017 - Cabinet (Item 5)
5 General Fund Revenue and Capital Budget and Medium Term Financial Plan 2017/18 to 2019/20 PDF 451 KB
Additional documents:
- Budget Report Pack, item 5 PDF 8 MB
- Webcast for General Fund Revenue and Capital Budget and Medium Term Financial Plan 2017/18 to 2019/20
Decision:
The tabled comments and recommendations of the Overview and Scrutiny Committee were noted by the Mayor.
DECISION
1. To agree a General Fund Revenue Budget of £338.896m subject to any changes arising from the Final Local Government Finance Settlement for referral to Council.
2. To agree the Council Tax (Band D) at £966.80 for 2017-18 be referred to Full Council for consideration.
3. To authorise the Corporate Director, Resources after consultation with the Mayor and Lead Member of Resources to make any changes required to the budget following the final settlement announcement in February.
4. To approve the capital programme to 2021-22; as detailed in Appendix 9 (b – d) of the report.
5. To approve and refer to Full Council for consideration and agreement the Capital Strategy, and initiate a comprehensive review of the Council’s approach to the prioritisation and governance of capital expenditure based on the outcomes based budgeting methodology already adopted for the revenue elements of the MTFS.
6. To note the following:
General Fund Revenue Budget for 2017-18 and Medium Term Financial Strategy 2017-18 to 2019-20
The initial budget proposal and Council Tax for 2017-18 together with the Medium Term Financial Strategy set out in Appendix 1a to the report.
Budget Consultation
The outcome of consultation with business ratepayers, residents and other stakeholders as reported to The Mayor in Cabinet in December 2016 and attached for ease of reference at Appendix 10 to the report.
Funding
The funding available for 2017-18 and the indications and forecasts for future years as set out in Section 3.4 of the report.
Growth and Inflation
The risks identified from potential growth and inflation commitments arising in 2017-18 and future years together with new initiatives identified as Mayoral Priority Growth as set out in Section 3.5 of the report and Appendix 3 to the report.
Savings
New proposed saving items to be delivered in 2017-20 as set out in Section 3.6 and Appendix 4 of the report.
Financial Risks: Reserves and Contingencies
The strategic budget risks and opportunities as set out in Section 3.7 of the report and the assessment of risk as detailed in Appendix 6 to the report.
Reserves and Balances
The proposed approach to the strategic use of reserves as set out in Section 3.8 and the projected movement in Reserves as detailed Appendix 7 to the report.
Schools Funding
The position for schools’ funding including the Dedicated Schools Grant as set out in Section 3.9 of the report.
Housing Revenue Account
The position for the Housing Revenue Account as set out in Section 3.10 and Appendix 8 to the report.
Capital
The Capital Strategy detailed in Appendix 9a and the capital programme to 2021-22; including the proposed revisions to the current programme, as set out in Section 3.11 and detailed in Appendix 9 (b – d) to the report.
To adopt a capital estimate for all new schemes detailed in Appendix 9c to the report.
Action by:
CORPORATE DIRECTOR, RESOURCES (Z. COOKE)
(Divisional Director, Finance and Procurement ... view the full decision text for item 5
Minutes:
The Mayor formally moved the report noting the requirement to manage the cuts to the Council’s funding that amounted to £1 for every £6 the Council spent.
Councillor David Edgar, Cabinet Member for Resources, then provided an update on the budget review process and confirmed that the report was significantly the same as the one presented at January Cabinet but with additional information in areas such as the capital strategy.
The meeting heard from a number of speakers on this issue including:
· Councillor Ohid Ahmed who, whilst noting how difficult it was to find the necessary savings, requested that the Mayor reconsider the proposed cuts to children’s services with particular reference to nurseries.
· Louise O’Hare and other petitioners concerned about the impact of the cuts to children’s services and urging their postponement whilst alternatives were considered.
· Nouruja Rahman, speaking on behalf of parents of three public nurseries who urged the Mayor to reverse the proposals to ‘privatise’ the nurseries.
During discussion of the report and the contributions to the meeting a number of points were noted including:
· The proposals for the nurseries would mean they continued to a similar standard and cost to parents but reduced cost for the Council.
· Not all service change proposals were to be enacted in the next year and so this would provide time to consult with service users on the best way of implementing any changes.
· It was important to try to make savings in such a way as to minimise the impact on service users.
· The budget also included a number of investment and improvement proposals.
· Prudent use of the reserves was sensible.
The Mayor thanked everyone who had contributed to the debate and in particular to the Overview and Scrutiny Committee for their tabled comments which he noted. He undertook to continue meeting with residents over the coming year to discuss concerns and work together to provide the best services possible. He agreed the recommendations as set out in the report.
RESOLVED
1. To agree a General Fund Revenue Budget of £338.896m subject to any changes arising from the Final Local Government Finance Settlement for referral to Council.
2. To agree the Council Tax (Band D) at £966.80 for 2017-18 be referred to Full Council for consideration.
3. To authorise the Corporate Director, Resources after consultation with the Mayor and Lead Member of Resources to make any changes required to the budget following the final settlement announcement in February.
4. To approve the capital programme to 2021-22; as detailed in Appendix 9 (b – d) of the report.
5. To approve and refer to Full Council for consideration and agreement the Capital Strategy, and initiate a comprehensive review of the Council’s approach to the prioritisation and governance of capital expenditure based on the outcomes based budgeting methodology already adopted for the revenue elements of the MTFS.
6. To note the following:
General Fund Revenue Budget for 2017-18 and Medium Term Financial Strategy 2017-18 to 2019-20
The initial budget proposal and Council Tax ... view the full minutes text for item 5