Agenda item

To consider the Draft General Fund Budget and Council Tax Setting for 2020/21.

[TO FOLLOW]

The Executive considered a report with regard to the draft General Fund Budget and Council Tax Setting for 2021/22.

The Portfolio Holder for Resources and officers were requested to give further consideration to the amount of Local Community Budget (LCB) for the Youth Mayor for 2021/22 and to the introduction of a process whereby Members could, if desired, carry over a proportion of their LCB funds from one financial year to the next.

It was RESOLVED:

1.          That the 2020/21 revised net expenditure on the General Fund of £11,189,490 be approved.

2.          That a draft General Fund Budget for 2021/22 of £728,360 (as adjusted for the transfer from reserves of £8,000,000 to allow for the repayment to the Collection Fund of that amount) be proposed for consultation purposes, with a contribution from balances of £380,590 and a Band D Council Tax of £220.57 (assuming a 2.32% increase).

3.          That the updated position on the General Fund Medium Term Financial Strategy (MTFS), as summarised in Section 4.12 of the report, be noted.

4.          That a minimum level of General Fund reserves of £3,650,000 in line with the 2021/22 risk assessment of balances, as shown at Appendix A to this report, be approved.

5.          That the contingency sum of £400,000 within which the Executive can approve supplementary estimates, be approved for 2021/22 (reflecting the level of balances available above the minimum amount).

6.          That the 2021/22 proposed Fees and Charges increase of £131,700 be approved (Appendix C to the report) and included in the draft budget.

7.          That the 2021/22 proposed Financial Security Options (General Fund share) of £1,462,182 (Appendix B to the report) be included in the draft budget for consideration by the Overview & Scrutiny Committee.

8.          That the Growth bids (General Fund share) of £166,966 (Appendix D to the report) be approved in principle, as set out in the report, and that the priority order of implementation be approved, as set out in Paragraph 4.3.2 of the report.

9.          That the pressures of £656,540 be noted (Appendix D to the report).

10.       That the 2021/22 Council Tax Support scheme be approved, as set out in Section 4.8 of the report.

11.       That the use of New Homes Bonus be noted, as referred to in Paragraph 4.4.4 of the report.

12.       That the revised Financial Security targets for the General Fund, as set out in Paragraphs 4.11.1 - 4.11.2 of the report, be approved.

13.       That the signing off of further COVID business grant schemes be delegated to the Strategic Director (CF), after consultation with the Resources Portfolio Holder, as referred to in Paragraph 4.5.14 of the report.

14.       That the use of the additional COVID grants, as set out in Paragraphs 4.5.9 - 4.5.10 of the report, be approved.

15.       That the Strategic Leadership Team be requested to identify further options totalling £500,000, which could be implemented if the impact of COVID and other recessionary pressures are worse than projected (as referred to in Paragraph 4.1.3 of the report).

16.       That the Strategic Leadership Team be requested to bring forward a Productivity Focused Transformation Programme by June 2021 to set out the plan for future savings (as referred to in Paragraph 3.11 of the report).

17.       That, in accordance with the Council’s Budget and Policy Framework Procedure Rules, the Council be recommended to continue with the current Co-operative Corporate Plan, subject to further review in Autumn 2022, (as referred to in Paragraphs 4.16.8 - 4.16.9 of the report).

18.       That the decisions taken in Resolutions 2. – 12. 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.

19.       That the Equalities Impact Assessments appended to the report at Appendices E and F be noted.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.