Agenda and decisions

There were no apologies for absence.

There were no declarations of interest.

To approve as a correct record the Minutes of the meeting of the Executive held on 18 January 2023 for signature by the Chair.

It was RESOLVED that the Minutes of the meeting of the Executive held on 18 January 2023 be approved as a correct record for signature by the Chair.

To note the following Minutes of a meeting of a Select Committees –

Community Select Committee – 9 January 2023

It was RESOLVED that the following Minutes of meetings of the Select Committees be noted –

Community Select Committee – 9 January 2023

To consider the Council's proposed 2023/24 General Fund Budget, Council Tax Support Scheme and proposals for the 2023/24 Council Tax for onward recommendation to Council.

The Executive considered a report in respect of the Council’s General Fund, Council Tax Support Scheme and proposals for the 2023/24 Council Tax for onward recommendation to Council.

It was RESOLVED:

1.          That Council be recommended to approve the 2022/23 net expenditure on the General Fund of £11,368,750, as set out in Paragraph 4.12.1 of the report.

2.          That Council be recommended to note the inclusion of the 2023/24 Fees and Charges of £325,840, including the 5% increase in market rents approved for inclusion at the December 2022 Executive (Appendix B to the report) in the draft 2023/24 budget.

3.          That Council be recommended to approve the draft General Fund Budget for 2023/24 of £12,463,780, with a contribution from balances of £572,268 and a Band D Council Tax of £232.31 (assuming a 2.99% increase), and as summarised in Appendix H to the report.

4.          That Council be recommended to note the updated position on the General Fund Medium Term Financial Strategy (MTFS), as summarised in Section 4.14 of the report.

5.          That Council be recommended to approve the minimum level of General Fund reserves of £3,419,753, in line with the 2023/24 risk assessment of balances, as shown at Appendix C to the report.

6.          That Council be recommended to approve for 2023/24 the contingency sum of £400,000 within which the Executive can approve supplementary estimates (reflecting the level of balances available above the minimum amount).

7.          That Council be recommended to approve the 2023/24 Council Tax Support Scheme, as set out in Section 4.4 of the report.

8.          That Council be recommended to approve the 2023/24 Making Your Money Count (MYMC) options, as set out in Section 4.9 and Appendix A to the report, totalling £1,341,999 and £32,502 (cost) for the General Fund and HRA respectively.

9.          That Council be recommended to approve the Growth options included in Section 4.10 of the report for inclusion in the 2023/24 General Fund (£73,150) and HRA (£56,892) budgets.

10.       That Council be recommended to note the pressures identified in Section 4.2 of the report.

11.       That Council be recommended to note that for 2023/24 a £300,000 budget to pump prime Transformation has been included in the General Fund budget to support efforts to realise the savings targets, as set out in Section 4.7 of the report.

12.       That Council be recommended to approve the use of the business rate gains only once they have been realised and that their use be ring fenced to maintain the financial resilience of the Council.

13.       That Council be recommended to note the comments from Overview and Scrutiny, as set out in Section 4.18 of the report.

14.       That Council be recommended to note the Equalities Impact Assessments appended to the report in Appendices D and E.

15.       That Council be recommended to note that key partners and other stakeholders are consulted and their views considered as part of the 2023/24 budget setting process.

16.       That the discretionary element of the funding for the Local Council  ...  view the full decision text for item 4.

To consider the Council’s proposed Capital Strategy 2022/23 – 2027/28 for onward recommendation to Council.

[REPORT TO FOLLOW]

The Executive considered a report in respect of the Capital Strategy 2022/23 – 2027/28 for onward recommendation to Council.

It was RESOLVED:

1.          That Council be recommended to approve the Final General Fund Capital Growth Bids for 2023/24, as detailed in Appendix A to the report (and incorporated into Appendix C).

2.          That Council be recommended to approve the revisions to the 2022/23 General Fund budget, as incorporated into Appendix C to the report.

3.          That Council be recommended to approve the Final 2023/24 General Fund Capital Programme, together with the recommended resourcing, as detailed in Appendix C to the report.

4.          That Council be recommended to approve that the Chief Financial Officer (CFO) brings a report forward during the 2023/24 financial year setting out the Council’s key capital regeneration and community asset ambitions and key land and asset disposals, not currently in the capital strategy, to determine a funding strategy to meet these Corporate priorities.

5.          That Council be recommended to note the Final Housing Revenue Account (HRA) budget requests for 2023/24, as detailed in Appendix B to the report (and incorporated into Appendix D), and as approved at the 18 January 2023 Executive meeting.

6.          That Council be recommended to approve the Final 2023/24 HRA Capital Programme, as detailed in Appendix D to the report.

7.          That Council be recommended to approve the updated forecast of resources 2023/24, as detailed inAppendix C (General Fund) and Appendix D (HRA) to the report.

8.          That Council be recommended to note the risk mitigation strategy to ensure the 2023/24 capital programme is fully financed, as set out in Paragraph 4.3.2 and Paragraph 4.6.4 of the report, and that the Executive will be updated in the Capital Quarterly monitoring reports.

9.          That Council be recommended to approve the 2023/24 de-minimis expenditure limit, as set out in Section 4.11 of the report.

10.       That Council be recommended to approve the 2023/24 contingency allowances, as set out in Section 4.12 of the report.

11.       That Council be recommended to approve the appropriation of Dunn Close garage block, valued at £540,000, from the General Fund to the HRA, as detailed in Paragraph 4.14.3 of the report.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.

To recommend to Council the approval of the Treasury Management Strategy 2023/24, including its Annual Investment Strategy, Prudential Indicators and Minimum Revenue Provision (MRP) policy.

The Executive considered a report in respect of the Annual Treasury Management Strategy, including Prudential Code Indicators for 2023/24, for onward recommendation to Council.

In response to a question from the Leader, the Assistant Director (Finance) confirmed that either increases or decreases in the Bank of England rates would impact on the Council’s future borrowing.

It was RESOLVED that the 2023/24 Treasury Management Strategy be recommended to Council for approval.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.

To consider any Part I business accepted by the Chair as urgent.

None.

To consider the following motions –

1.          That under Section 100A of the Local Government Act 1972, the press and public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as described in Paragraphs 1 – 7 of Part 1 of Schedule 12A of the Act as amended by Local Government (Access to Information) (Variation) Order 2006.

2.          That Members consider the reasons for the following reports being in Part II and determine whether or not maintaining the exemption from disclosure of the information contained therein outweighs the public interest in disclosure.

It was RESOLVED:

1.          That under Section 100A of the Local Government Act 1972, the press and public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as described in Paragraphs 1 – 7 of Part 1 of Schedule 12A of the Act as amended by Local Government (Access to Information) (Variation) Order 2006.

2.     That the reasons for the following reports being in Part II were accepted, and that the exemption from disclosure of the information contained therein outweighs the public interest in disclosure.

To approve as a correct record the Part II Minutes of the meeting of the Executive held on 18 January 2023 for signature by the Chair.

It was RESOLVED that the Part II Minutes of the Executive held on 18 January 2023 be approved as a correct record for signature by the Chair.

To consider any Part II business accepted by the Chair as urgent.

None.