Agenda item

Report by Director of Finance (CC8).

This report is the culmination of the Service & Resource Planning process for 2020/21 to 2023/24. It sets out the Cabinet’s proposed budget for 2020/21, medium term financial plan to 2023/24 and capital programme to 2029/30, together with a number of strategies and policies that the Council is required to approve for the 2020/21 financial year.

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

Section 1 – Leader of the Council’s overview (To follow)

Section 2 – Corporate Plan

Section 3 – Statutory Report by Director of Finance (Chief Finance Officer)

Section 4 – Budget Strategy and Capital Programme

The Council is RECOMMENDED to:

(a)           approve the Corporate Plan 2020-2024 as set out in Section 2 and delegate authority to the Corporate Director Customers and Organisational Development in consultation with the Leader and relevant portfolio holder(s) to make appropriate changes to the priorities framework.

(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 plan) approve:

(1)           the council tax and precept calculations for 2020/21 set out in Section 4.3 and in particular:

(i)             a precept of £391,445,480;

(ii)           a council tax for band D equivalent properties of £1,527.44;

(2)           a budget for 2020/21 as set out in Section 4.4;

(3)           a medium term plan for 2020/21 to 2023/24 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)           virement arrangements to operate within the approved budget for 2020/21 as set out in Section 4.5;

(5)           the Financial Strategy for 2020/21 at Section 4.6;

(6)           the Earmarked Reserves and General Balances Policy Statement 2019/20 at Section 4.7 including

(i)             the Chief Finance Officer’s recommended level of General Balances for 2020/21 (Section 4.7), and

(ii)           the planned level of Earmarked Reserves for 2019/20 to 2023/24 (Section 4.7.1)

(7)           the use of Dedicated Schools Grant (provisional allocation) for 2020/21 as set out in Section 4.8.

(d)           (in respect of capital) approve:

(1)           the Capital & Investment Strategy for 2020/21 – 2029/30 including the Prudential Indicators and Minimum Revenue Provision Methodology Statement as set out in Section 4.9;

(2)           a Capital Programme for 2019/20 to 2029/30 as set out in Section 4.9.1 which includes new capital proposals set out in Section 4.9.2 and the Highways Maintenance Programme to 2024/25 set out in Section 4.9.3; and

(3)           the Investment Strategy for 2020/21 set out in Section 4.9.4.

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

(1)           the Treasury Management Strategy Statement and Annual Investment Strategy for 2020/21 at Section 4.9.5 including the Treasury Management Prudential Indicators and the Specified Investment and Non-Specified Investment Instruments.

(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 2020/21 strategy be delegated to the Chief Finance Officer in consultation with the Leader of the Council and the Cabinet Member for Finance;

(f)            delegate authority to the Leader of the Council, following consultation with the Director of Finance and the Cabinet Member for Finance, to make appropriate changes to the budget for 2020/21.

Before the Council was the Corporate Plan and Service & Resource  Planning reports and annexes, an Addenda setting out the changes to the Cabinet’s proposed revenue budget for 2020/21 and Medium Term Financial Plan for 2021/22 to 2023/24 arising from information received after the publication of Council papers on 3 February; the Labour and Liberal Democrat Group’s joint amendment and the Leader’s Budget Speech as set out in Annex 2 to the Schedule of Business.

With the consent of Council, Councillor Hudspeth moved and Councillor Brighouse seconded his motion, amended at the suggestion of the labour and Liberal Democrat Group as set out in bold italics below:

The Council is RECOMMENDED (in respect of revenue) to approve a budget for 2020/21 and a medium term financial plan for 2020/21 – 2023/24  including the amendment as proposed by the Labour Group & Liberal Democrat Group to approve the allocation of £200k in 2020/21 to develop an up to date assessment of the services young people in Oxfordshire want and need. To identify whether these services are currently being delivered and to investigate future service delivery options to meet that need. This funding will be met from the Budget Priorities Reserve.

Following debate, the motion as amended was put to the vote and carried by 60 votes to 0, with 1 abstention.

Voting was as follows:

Councillors voting for the motion (60)

Azad, Banfield, Bartholomew, Bartington, Bearder, Billington, Brighouse, Buckley, Bulmer, Carter, Cherry, Clarke, Constance, Corkin, Fatemian, Fawcett, Fenton, Field-Johnson, Fitzgerald O’Connor, Fox-Davies, Gawrysiak, Gray, Griffiths, Handley, Hanna, Hannaby, Harrod, Haywood, Heathcoat, Howson, Hudspeth, Johnston, Ilot, Leffman, Lindsay-Gale, Lygo, Mallon, McLLveen, Matelot, Mathew, Phillips, Pressel, Price, Reeves, Reynolds, Roberts, Rooke, Sames, Gill Sanders, John Sanders, Sibley, Emily Smith, Roz Smith, Stratford, Sudbury, Thompson, Turnbull, Waine, Walker, Webber,

Councillors voting against the motion (0)

Councillors abstaining on the motion (1)

Harris

It was accordingly:”

RESOLVED: (60 votes to 0, with 1 abstention)to:

(in respect of revenue) to approve a budget for 2020/21 and a medium term financial plan for 2020/21 – 2023/24  including the amendment as proposed by the Labour Group & Liberal Democrat Group to approve the allocation of £200k in 2020/21 to develop an up to date assessment of the services young people in Oxfordshire want and need. To identify whether these services are currently being delivered and to investigate future service delivery options to meet that need. This funding will be met from the Budget Priorities Reserve.

(a)      approve the Corporate Plan 2020-2024 as set out in Section 2 and delegate authority to the Corporate Director Customers and Organisational Development in consultation with the Leader and relevant portfolio holder(s) to make appropriate changes to the priorities framework.

(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 plan) approve:

(1)          the council tax and precept calculations for 2020/21 set out in Section 4.3 and in particular:

(i)           a precept of £391,445,480;

(ii)          a council tax for band D equivalent properties of £1,527.44;

(2)          a budget for 2020/21 as set out in Section 4.4;

(3)          a medium term plan for 2020/21 to 2023/24 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)          virement arrangements to operate within the approved budget for 2020/21 as set out in Section 4.5;

(5)          the Financial Strategy for 2020/21 at Section 4.6;

(6)          the Earmarked Reserves and General Balances Policy Statement 2019/20 at Section 4.7 including

(i)           the Chief Finance Officer’s recommended level of General Balances for 2020/21 (Section 4.7), and

(ii)          the planned level of Earmarked Reserves for 2019/20 to 2023/24 (Section 4.7.1)

(7)          the use of Dedicated Schools Grant (provisional allocation) for 2020/21 as set out in Section 4.8.

(d)      (in respect of capital) approve:

(1)          the Capital & Investment Strategy for 2020/21 – 2029/30 including the Prudential Indicators and Minimum Revenue Provision Methodology Statement as set out in Section 4.9;

(2)          a Capital Programme for 2019/20 to 2029/30 as set out in Section 4.9.1 which includes new capital proposals set out in Section 4.9.2 and the Highways Maintenance Programme to 2024/25 set out in Section 4.9.3; and

(3)          the Investment Strategy for 2020/21 set out in Section 4.9.4.

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

(1)          the Treasury Management Strategy Statement and Annual Investment Strategy for 2020/21 at Section 4.9.5 including the Treasury Management Prudential Indicators and the Specified Investment and Non-Specified Investment Instruments.

(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 2020/21 strategy be delegated to the Chief Finance Officer in consultation with the Leader of the Council and the Cabinet Member for Finance;

(f)        delegate authority to the Leader of the Council, following consultation with the Director of Finance and the Cabinet Member for Finance, to make appropriate changes to the budget for 2020/21.