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    • Issue - meetings

    Budget

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    Meeting: 07/02/2019 - Cabinet (Item 146)

    146 Budget (00-59-23) pdf icon PDF 214 KB

    To receive a report of the Deputy Chief Executive (S151) providing the proposals for the General Funds and the Housing Revenue Account for the year 2019/20.

     

    Additional documents:

    • App 1 Provisional Capital Programme 19-20 07-02-19 Cabinet, item 146 pdf icon PDF 89 KB
    • App 2 Capital MTFP 19-20 to 22-23 at 25-01-19, item 146 pdf icon PDF 121 KB
    • Appendices 3 and 4 Earmarked Reserves - Combined, item 146 pdf icon PDF 28 KB
    • HRA Budget Appendix 5 Combined, item 146 pdf icon PDF 55 KB
    • Appendix 1 Budget Gap Position, item 146 pdf icon PDF 19 KB
    • Appendix 2 PDG Service Unit Movements, item 146 pdf icon PDF 46 KB

    Minutes:

    The Cabinet had before it a * report of the Deputy Chief Executive (S151) providing the proposals for the General Fund and the Housing Revenue Account for the year 2019/20.

     

    The Cabinet Member for Finance informed the meeting that there had been 18 occasions in which members had involvement in the budget setting for 2019/20, following discussions at PDG meetings and members briefings.  He outlined the headlines of the report with regard to the proposed increase in Council Tax, the temporary transfer of £253k from the New Homes Bonus, the position of the HRA and the proposals within the Capital Programme

     

    Consideration was given to:

     

    ·         The legislation requirement for a 1% decrease in social housing rents, the freeze on garage rents and the increase in garage plot ground rents

    ·         The impact of Universal Credit

    ·         The Local Government Pension Scheme.

     

    RECOMMENDED to Council that:

     

    a)     Council Tax is increased by 2.996% (£5.93) to £203.84.

     

    b)     The General Fund budget for 2019/20 is approved.

     

    c)     The 2019/20 budget requires no transfer from the General Fund Balance.

     

    d)     The General Fund Budget requires a temporary transfer of £253k from New Homes Bonus EMR.

     

    e)     The HRA budget for 2019/20 be approved as outlined in Appendix 5.

     

    f)      HRA fees/charges are approved based on the attached schedule shown as Appendix 5a and 5b.

     

    g)     Work on strategic planning for delivering balanced budgets in the future is commenced in the spring.

     

    h)     The authority continues to maintain a 25% General Fund Balance of our net operational expenditure as referred to in para 5.1of the report.

     

    (Proposed by Cllr P H D Hare-Scott and seconded by Cllr R L Stanley)

     

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