Decision details

The Cabinet had before it a * report of the Deputy Chief Executive (151) reviewing the revised draft budget changes identified and discussing any further changes required in order for the Council to move towards a balanced budget for 2020/21. Also, to highlight the impact of the proposed changes on the Medium Term Financial Plan (MTFP).

The Cabinet Member for Finance outlined the contents of the report stating that there was a need to consider the budget gap referred to in table 1 of the report and that there was a need to look to use reserves to bridge the gap unless further savings could be realised.

Consideration was given to:

·         The proposed savings that had been put forward which included the removal of the weed team and collection calendars

·         The special meeting of the Environment Policy Development Group planned for 30 January to consider budget issues

·         How effective the weed team had been

·         A gard copy of collection calendars would be available on request

·         Tiverton Town Council’s involvement in the maintenance and planting of flower beds

·         The impairment of 25% of 3 Rivers working capital loan

It was therefore RESOLVED that:

a)    The updated budget proposals for 2020/21 included in Appendix 1 and 2 and the Capital Programme included in Appendix 4 be agreed.

b)     The payment in advance of the next 3 Years’ Pension Deficit (see Section 4) be agreed.

c)     The revised Medium Term Financial Plan (MTFP) be noted.

d)    A minimum General Reserves (General Fund) limit of £2m see Section 5 and Appendix 6 be agreed

(Proposed by Cllr A White and seconded by Cllr L D Taylor)

Note:  *Report previously circulated, copy attached to minutes.