Decision details

The Executive considered a report in respect of the draft General Fund and Council Tax Setting 2022/23.

It was RESOLVED:

1.     That the 2021/22 revised net expenditure on the General Fund of £11,755,780 be approved.

2.     That the inclusion of the 2022/23 Fees and Charges of £341,780 (Appendix B to the report) in the draft 2022/23 budget, be noted.

3.     That the draft General Fund Budget for 2022/23 of £11,004,220 is proposed for consultation purposes, with a contribution from balances of £1,238,955 and a Band D Council Tax of £225.57 (assuming a 2.26% increase).

4.     That the updated position on the General Fund Medium Term Financial Strategy (MTFS), summarised in section 4.14 of the report, be noted.

5.     That the minimum level of General Fund reserves of £3,471,038 in line with the 2022/23 risk assessment of balances, as shown at Appendix C to the report, be approved.

6.     That the contingency sum of £400,000 within which the Executive can approve supplementary estimates be approved for 2022/23 (reflecting the level of balances available above the minimum amount).

7.     That the Making Your Money Count (MYMC) options, as set out in Section 4.2 and Appendix A of the report, totalling £780,945 and £39,370 for the General Fund and HRA respectively for 2022/23, be included into the Council’s budget setting processes for consideration by the Overview & Scrutiny Committee.

8.     That the Growth options included in Section 4.4 of the report be approved for inclusion in the 2022/23 General Fund (£120,078) and HRA (£63,360) budgets.

9.     That the pressures of £1,773,340 be noted, as set out in Section 4.3 of the report.

10.   That a further £300,000 be approved for inclusion in the Council’s 2022/23 budget setting processes to pump prime Transformation, to enable a significant contribution to the savings targets, as set out in Section 4.12 of the report.

11.   That the identification of a further £250,000 of Making Your Money Count (MYMC) options for the June 2022 Medium Term Financial Strategy (MTFS) report be approved, as set out in Paragraph 4.12.4 of the report.

12.   That the business rate gains only once realised be ring fenced and used for firstly the financial resilience of the Council and, if required, be transferred to the Income Equalisation Reserve, and thereafter they be used for Regeneration or Co-operative Neighbourhood one-off spend.

13.   That the 2022/23 Council Tax Support Scheme, as set out in Section 4.6 of the report, be approved.

14.   That the decisions taken in Resolutions 3 to 13 above be referred to the Overview and Scrutiny Committee for consideration, in accordance with the Budget and Policy Framework Rules in the Council’s Constitution.

15.   That the Equalities Impact Assessments, as set out in Appendices D and E to the report, be noted.

16.   That the work of the Leader’s Financial Security Group (LFSG) in reviewing the efficiency, commercial and fees and charges, as outlined in Section 4.18 of the report, be noted.

17.   That key partners and other stakeholders be consulted and their views considered as part of the 2022/23 budget setting process.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.