Agenda item

To consider and recommend to Council the approval of the final General Fund Budget and Council Tax Setting for 2022/23.

The Executive considered a report in respect of the final General Fund Budget and Council Tax Setting for 2022/23, for onward recommendation to Council.

In response to a Member’s question, the Strategic Director (CF) stated that the issue of a potential gap in the Government’s methodology regarding the application of the £150 energy costs relief for Houses in Multiple Occupation had been raised with the Government, although the Regulations for administering this relief were still awaited.  There would be further challenges in applying this relief to those that did not pay their Council Tax by direct debit.

It was RESOLVED that the following proposals be recommended to Council:

1.          That the 2021/22 revised net expenditure on the General Fund of £11,688,050 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 £11,206,660, with a contribution from balances of £1,112,817 and a Band D Council Tax of £225.57 (assuming a 2.26% increase) be approved.

4.          That the updated position on the General Fund Medium Term Financial Strategy (MTFS), as summarised in Section 4.3 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 Housing Revenue Account (HRA) respectively for 2022/23 be approved.

8.          That the Growth options included in Section 4.3 of the report be approved for inclusion in the 2022/23 General Fund (3120,078) and HRA (£63,360) budgets.

9.          That the General Fund pressures, as set out in Section 4.3 of the report, be approved.

10.      That a further £300,000 be approved to pump prime Transformation, to be included in the Council’s 2022/23 budget setting processes in order to significantly contribute to the savings targets set out in Section 4.11 of the report.

11.      That the identification of a further £500,000 of MYMC options for the June 2022 MTFS report, as set out in Paragraph 4.11.4 of the report, be approved.

12.      That the use of business rate gains only once realised be ring fenced for firstly the financial resilience of the Council and, if required, transferred to the Income Equalisation Reserve, and thereafter are 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 comments of the Overview and Scrutiny Committee, as set out in Section 4.19 of the report, be noted.

15.      That the Equalities Impact Assessments, as set out in Appendices D and E of 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 4.17 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.

18.      That, in accordance with the Council’s Budget and Policy Framework Procedure Rules, the Council continues with the current Co-operative Corporate Plan, subject to further review in Autumn 2023 (as referred to in Paragraphs 4.18.5 – 4.18.7 of the report).

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.