Decision details

Before the Council was the report and annexes, an Addenda setting out the changes to the Cabinet’s proposed revenue budget for 2021/22 and Medium Term Financial Strategy (MTFS) to 2025/26 arising from information received after the publication of Council papers on 1 February 2021; the Labour Group’s  Amendment; the Leader of the Council’s Overview and the Schedule of Business.

Having heard the proposal, with the consent of Council, Councillor Hudspeth accepted the Amendment from the Labour Group as shown below:

The Council is RECOMMENDED (in respect of the budget and medium term financial strategy – at Section 4)to approve a budget for 2021/22 set out in Section 4.4 and a medium term financial strategy for 2021/22 – 2025/26 set out in Section 4.1 as amended in Labour Group Annex 1 (below)

The motion as amended was carried by 48 votes to 15.

RESOLVED: to:

(a)           approve the Corporate Plan as set out in Section 2;

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

(c)           (in respect of the budget and medium term financial strategy – at Section 4) approve:

(1)    the council tax and precept calculations for 2021/22 set out in Section 4.3 and in particular:

(i)                a precept of £407,954,238.76;

(ii)              a council tax for band D equivalent properties of £1,573.11;

(2)              a budget for 2021/22 as set out in Section 4.4;

(3)              a medium term financial strategy for 2021/22 to 2025/26 as set out in Section 4.1 (which incorporates changes to the existing medium term financial strategy as set out in Section 4.2);

(4)              the Financial Strategy for 2021/22 at Section 4.5;

(5)              the Earmarked Reserves and General Balances Policy Statement 2021/22 at Section 4.6 including:

(i)            the Chief Finance Officer’s recommended level of General Balances for 2021/22 (Section 4.6), and

(ii)              the planned level of Earmarked Reserves for 2021/22 to 2025/26 (Section 4.6)

(d)           (in respect of capital – at Section 5) approve:

(1)           the Capital & Investment Strategy for 2021/22 to 2030/31 including the Prudential Indicators and Minimum Revenue Provision Methodology Statement as set out in Section 5.1;

(2)           a Capital Programme for 2021/22 to 2030/31 as set out in Section 5.5 which includes new capital proposals set out in Section 5.6 and the Property Strategy set out in Section 5.4; and

(3)           the Investment Strategy for 2021/22 set out in Section 5.3.

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

(1)           the Treasury Management Strategy Statement and Annual Investment Strategy for 2021/22 at Section 5.2 including the Treasury Management Prudential Indicators and the Specified Investment and Non-Specified Investment Instruments.

(2)           that any further changes required to the 2021/22 strategy be delegated to the Chief Finance Officer in consultation with the Leader of the Council and the Cabinet Member for Finance.

(f)         to approve a budget for 2021/22 set out in Section 4.4 and a medium term financial strategy for 2021/22 – 2025/26 set out in Section 4.1 as amended in Labour Group Annex 1 (below)