Issue - meetings

To consider the Medium Term Financial Plan and budget for 2017/18 and to recommend them to the Council for adoption.

Recommended:

(a)     that there is a General Fund Net Budget Requirement in 2017/18 of £16,587,280, as set out in Appendix 4 to Report Item 6 considered by the Cabinet, including the use of reserves to finance ‘Business Development’ and the ‘ICT maintain and protect frontline services’ projects, and one-off construction grants as set out in Appendix 3 to Report Item 6 considered by the Cabinet;

(b)    that the site licence fees and service charges at Stillwater Park be increased by 2.0% in line with RPI inflation;

(c)     that the Band D Council Tax for 2017/18 shall be £163.36;

(d)    that the General Fund Capital Programme for 2017/18 of £5.976m, as set out in Appendix 5 to Report Item 6 considered by the Cabinet, be approved; and

(e)     that each of the prudential indicators, the Limits for 2017/18 to 2019/20 and the Minimum Revenue Provision Policy Statement as set out in Appendix 6 to Report Item 6 considered by the Cabinet, be approved and adopted.

Members considered the Medium Term Financial Plan, which had been updated in the light of recent developments, together with the Budget for 2017/18.  Summaries of the funding sources available and of the key movements identified in the budget were set out in Appendices 1 and 2 respectively of Report Item 6 considered by the Cabinet.

The General Fund net budget requirement for 2017/18, as set out in Appendix 4 to Report Item 6 considered by the Cabinet, was £16.587 million, a reduction of £604,000 against the 2016/17 budget requirement.  The council tax for a Band D property would be increased by £5 (3.16%) compared to 2016/17.

Details of the proposed General Fund Capital Programme were set out in Appendix 5 to the report and totalled £5.976 million.

The Cabinet also considered the indicators for the treasury management function, as set out in Appendix 6 to Report Item 6 considered by the Cabinet.

Members were advised that the Government’s Financial Settlement was expected within the following week and it was likely that there would be changes affecting 2018/19 and 2019/20.

With respect to the Members’ concerns that the Government’s current policies on Right to Buy unfairly prejudiced this Council’s ability to maintain and increase its housing stock to meet the needs of tenants and residents in need of housing, the draft letter to the two local Members of Parliament, raising these concerns, had been approved by Cllr M Harris.

Recommended:

(a)     That there is a General Fund Net Budget Requirement in 2017/18 of £16,587,280, as set out in Appendix 4 to Report Item 6 considered by the Cabinet, including the use of reserves to finance ‘Business Development’ and the ‘ICT maintain and protect frontline services’ projects, and one-off construction grants as set out in Appendix 3 to Report Item 6 considered by the Cabinet;

(b)    That the site licence fees and service charges at Stillwater Park be increased by 2.0% in line with RPI inflation;

(c)     That the Band D Council Tax for 2017/18 shall be £163.36;

(d)    That the General Fund Capital Programme for 2017/18 of £5.976m, as set out in Appendix 5 to Report Item 6 considered by the Cabinet, be approved; and

(e)     That each of the prudential indicators, the Limits for 2017/18 to 2019/20 and the Minimum Revenue Provision Policy Statement as set out in Appendix 6 to Report Item 6 considered by the Cabinet, be approved and adopted.