Agenda item

Report by the Chief Finance Officer (CC8) including the Leader of the Council’s overview (Section 1), Corporate Plan (Section 2), Budget Strategy and Capital Programme (Section 3) and the Directorate Business Strategies and Performance Indicators (Section 4).The recommendations set out below (and in the report) are made subject to the Chief Finance Officer’s statutory report on the robustness of the budget estimates and adequacy of financial reserves (Section 5).

The Labour, Liberal Democrat, and Green Groups propose to submit amendments to the budget proposals (CC8 Labour), (CC8 Liberal Democrat), and (CC8 Green) respectively and these will be circulated separately.

The Council is RECOMMENDED to:

(a)          approve the Corporate Plan 2015/16 – 2017/18 (update for 2015/16) as set out in section 2.0;

(b)         approve the Financial Strategy 2014/15 – 2017/18 (update for 2015/16) as set out in section 3.1;

(c)          have regard to the Chief Finance Officer’s report (at Section 5) in approving recommendations d to h below;

(d)         (in respect of revenue) approve:

(1)          the council tax and precept calculations for 2015/16 set out in section 3.2 and in particular:

(i)           a precept of £288,252,933;

(ii)          a council tax for band D equivalent properties of £1,232.46;

(2)          a budget for 2015/16 as set out in section 3.3 including the:

(i)           virement of £2.751m from corporate contingency to Children’s Social Care (CEF2-3);

(ii)          new reserve for Business Rates;

(3)          a medium term plan for 2015/16 to 2017/18 as set out in section 3.4 (which incorporates changes to the existing medium term financial plan as set out in section 3.5);

(4)          the use of Dedicated Schools Grant (provisional allocation) for 2015/16 as set out in section 3.6;

(5)          virement arrangements to operate within the approved budget for 2015/16 as set out in section 3.7;

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

(1)          the Chief Finance Officer’s recommended level of balances for 2015/16 as set out in section 3.8.1

(2)          the planned level of reserves for 2015/16 to 2017/18 as set out in section 3.8.2;

(f)           (in respect of capital) approve:

(1)          a Capital Programme for 2014/15 to 2018/19 as set out in section 3.9 including the Highways Structural Maintenance Programme 2015/16 and 2016/17 in section 3.9.1;

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

(1)          the Treasury Management Strategy Statement and Annual Investment Strategy for 2015/16 as set out in section 3.10;

(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 2015/16 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 3.10

(5)          the Minimum Revenue Provision Methodology Statement as set out in Appendix B of section 3.10;

(6)          the Specified Investment and Non Specified Investment Instruments as set out in Appendix C and D of section 3.10;

(7)          the Treasury Management Policy Statement as set out at Appendix E of section 3.10;

(h)         approve the directorate business strategies and performance indicators as set out in section 4.0 and 4.1.

The council had before it the report by the Chief Finance Officer (CC8) including the Leader of the Council’s overview (Section 1), Corporate Plan (Section 2), Budget Strategy and Capital Programme (Section 3) and the Directorate Business Strategies and Performance Indicators (Section 4). The recommendations set out in the report were made subject to the Chief Finance Officer’s statutory report on the robustness of the budget estimates and adequacy of financial reserves (Section 5).

The Council also had before it budget proposals in the form of: Amendments by the Labour Group to the Cabinet’s Revenue Budget and Amendments by the Green Group to the Cabinet’s Revenue Budget (CC8 Labour) and (CC8 Green), and a statement by the Liberal Democrat Group (CC8 Liberal Democrat) (additional Papers 1).

Councillor Hudspeth moved and Councillor Statford seconded the Cabinet’s recommendations on Service & Resource Planning 2015/16 – 2017/18 (CC8). In moving the motion, Councillor Hudspeth paid tribute to Lorna Baxter and her staff for all their wok 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 1 (CC8 Labour). Councillor Brighouse thanked Lorna Baxter and her team and the Directors and Deputy Directors for their help and support.

Following debate, the amendment was put to the vote and was lost by 44 votes to 17.

Councillor Williams moved and Councillor Coates seconded an amendment to the Cabinet’s budget as set out in the Additional Papers 1 (CC8 Green). Councillor Williams paid tribute to Lorna Baxter and her team for their help and support.

The amendment was then put to the vote and was lost by 59 votes to 2.

Following a lengthy debate, the substantive motion was put to the vote and was carried by 33 votes to 28.