Agenda item

Report by Director of Finance (CC9).

This report is the culmination of the service & resource planning process for 2017/18 to 2020/21. It sets out the Cabinet’s proposed budget for 2017/18, medium term financial plan and capital programme, together with a number of statements/policies that the Council is required to approve for the 2017/18 financial year.

The report is divided into four main sections which are outlined below:

Section 1 – Leader of the Council’s overview

Section 2 – Council Vision

Section 3 – Director of Finance’s statutory report

Section 4 – Budget Strategy and Capital Programme

The Council is RECOMMENDED to:

(a)            have regard to the report of the Director of Finance (at Section 3) in approving recommendations b to e below;

(b)           (in respect of revenue) approve:

(1)            the council tax and precept calculations for 2017/18 set out in section 4.3 and in particular:

(i)              a precept of £328,022,682;

(ii)            a council tax for band D equivalent properties of £1,345.59;

(2)            a budget for 2017/18 as set out in section 4.4;

(3)            a medium term plan for 2017/18 to 2020/21 as set out in section 4.1 (which incorporates changes to the existing medium term financial plan as set out in section 4.2);

(4)            the use of Dedicated Schools Grant (provisional allocation) for 2017/18 as set out in section 4.7;

(5)            virement arrangements to operate within the approved budget for 2017/18 as set out in section 4.8;

(6)            that any variation as a result of the final Local Government Finance settlement is dealt with through a transfer to/from balances.

(c)            (in respect of treasury management) approve:

(1)            the Treasury Management Strategy Statement and Annual Investment Strategy for 2017/18 as set out in section 4.5;

(2)            the continued delegation of authority to withdraw or advance additional funds to/from external fund managers to the Treasury Management Strategy Team;

(3)            that any further changes required to the 2017/18 strategy be delegated to the Chief Finance Officer in consultation with the Leader of the Council and the Cabinet Member for Finance;

(4)            the Prudential Indicators as set out in Appendix A of section 4.5

(5)            the Minimum Revenue Provision Methodology Statement as set out in Appendix B of section 4.5;

(6)            the Specified Investment and Non Specified Investment Instruments as set out in Appendix C and D of section 4.5;

(7)            the Treasury Management Policy Statement as set out at Appendix E of section 4.5;

(d)            (in respect of balances and reserves) approve:

(1)            the Chief Finance Officer’s recommended level of balances for 2017/18 as set out in section 4.6.1;

(2)            the planned level of reserves for 2017/18 to 2020/21 as set out in section 4.6.2;

(e)            (in respect of capital) approve:

(1)            a Capital Programme for 2016/17 to 2020/21 as set out in section 4.9 including the Highways Structural Maintenance Programme 2017/18 and 2018/19 in section 4.9.1;

(2)            the Flexible Use of Capital Receipts Policy as set out in section 4.9.4

The Council had before it a report (CC9) which outlined the service & resource planning process for 2107/18 to 2020/21, including the Leader of the Council’s overview (section 1) the Council Vision (section 2) the Director of Finance’s statutory report (section 3) and the Budget Strategy and Capital Programme (Section 4)

Under Section 25 of the Local government Act 2003, the Director of Finance was required to report on the robustness of the estimates made in determining the council tax requirement and on the adequacy of the proposed financial reserves.  The assessment was set out in section 3 of the report.  Council was required to have due regard to this report when making their decisions on the budget.

The Council also had before it budget proposals in the form of:  Amendments by the Labour Group to the Cabinet’s Revenue Budget (CC9 Labour), Amendments by the Liberal Democrat Group to the Cabinet’s Revenue Budget (CC9 Lib Dem) and Amendments by the Green Group to the Cabinet’s Revenue Budget (CC9 Green) (Additional Papers). and the schedule of Business, which contained an Erratum Pack and corrected Green Group Amendment.  All papers could be found on the Council’s Website.

With the consent of Council, Councillor Hudspeth moved an Alteration to the Cabinet Budget Proposals (CPR 17.5.1) as set out in the Schedule of Business.  The Motion was put to the vote and was carried nem con.

Councillor Hudspeth then moved and Councillor Stratford seconded the Cabinet’s recommendations on Service & Resource Planning 2017/18 – 2020/21. In moving the motion, Councillor Hudspeth paid tribute to Lorna Baxter and Katie Jurczyszyn for all their work in preparing the budget.

Councillor Brighouse moved and Councillor Hards seconded an amendment to the Cabinet’s budget as set out in the Additional Papers (CC9 Labour). Councillor Brighouse thanked the Director of Finance and her team for their help and support.

Following debate, the amendment was put to the vote and was lost by 41 votes to 17.

Councillor Webber moved and Councillor Fawcett seconded an amendment to the Cabinet’s budget as set out in the Additional Papers (CC9 Lib Dem). In moving his motion, Councillor Webber paid tribute to Lorna Baxter and her team for their help and support.

Following debate, the amendment was put to the vote and was lost by 44 votes to 12, with 3 abstentions.

With the consent of Council, Councillor Williams moved and Councillor Coates seconded an amended version of his amendment to the Cabinet’s budget as set out in the Erratum to the Schedule of Business. Councillor Williams paid tribute to the Finance Team.

Following debate, the amendment was put to the vote and was lost by 56 votes to 2, with 1 abstention.

Members of the Cabinet then gave an overview of the areas of the Budget falling under their responsibility.

Following a lengthy debate, the substantive motion was put to the vote and was carried by 31 votes to 29.