Decision details

i)  Note the high level forecast for the General Fund for 2020/21 onwards and subsequent rebasing of budgets, ensuring budgets are on a sound and robust footing.

ii)  Note the pressures which have been included in the forecast which are set out in paragraphs 17 and 18.

iii)  Note the Executive’s initial investment and savings proposals put forward for conversation and consultation in Appendices 3 and 4.  Savings amount to a cumulative £29.5M by 2022/23, with a significant contribution from income generating initiatives. New investment under these proposals is estimated at around £14.0M in the revenue budget.

iv)  Note that the Executive’s budget proposals for consultation are based on the assumption that they will recommend a Council Tax increase of 1.99% to Full Council as per paragraph 21.

v)  To note the implications for the Capital Programme and to approve the additions to the capital programme as detailed in paragraph 26 to 28 and give approval to spend.

vi)  Note that the Executive’s initial savings set out in Appendices 3, with a clear emphasis on ways to generate income as a key part of ensuring a balanced budget.

vii)  Note the consultation on the Executive’s draft budget proposals will commence on 16th October 2019 and note the consultation proposals and methodology set out in paragraph 35.

viii)  Delegate authority to the Chief Financial Officer (CFO), following consultation with the Cabinet Member for Resources, to do anything necessary to give effect to the proposals contained in this report.

Report of the Cabinet Member for Resources updating the current strategy and seeking approval for consultation on Budget Proposals.

The proposals presented in this report represent the Executive’s draft budget for 2020/21 through to 2022/23, which is being published for consultation.  There are a number of variables and alternative options that could be implemented as part of the budget.  The budget will be set by Full Council in February 2020.

NOTE OF AMENDMENTS

Paragraph 19:

Table 5: Investment Proposals

*Note figures have rounded in this table, which may produce small difference to the totals

The table indicates additional investment across a range of proposals in the next three years, totalling £3.3M £3.8M in 2020/21 and totalling around £14.0M over the three years.

*this line should have been removed

Paragraph 28

Table 7 – New Capital Investments

*Note: in programme for 2019/20 (contactless payment)

Paragraph 42:

The legal significance of the Annual Budget derives from the Council's duty under the Local Government Finance Act 1992 (the 1992 Act) to set a balanced budget. Failure to make a lawful Council Tax on or before 11 March 2017 2020 could have serious financial results for the Council and make the Council vulnerable to an Order from the Courts requiring it to make a Council Tax.