Decision details

RESOLVED:

(1)       That Cabinet note the funding forecasts for 2020/21 onwards, and that (especially significant for 2021/22 onwards) these will be subject to change;

(2)       That the comments made at the budget workshops in regard to the draft budget be noted;

(3)       That the comments made at the budget workshops in regard to the inclusion of the capital investments in the draft budget be noted;

(4)       That the risk in relation to the timing of capital receipts and that this might result in a need to borrow for capital purposes, which would result in additional revenue costs to those already reflected be noted;

(5)       That it be noted that Council Tax increases for 2020/21 will be in line with the Medium Term Financial Strategy (i.e. the maximum amount allowed without the need for a local referendum).

(6)       That it be approved that the funding surplus in 2020/21 be transferred to a funding equalisation reserve. This reserve will then be released in future years to help balance the budget;

(7)       That the need to start budget planning for 2021/22 (and beyond) early in the new financial year (2020/21) and the proposed process be noted;

(8)       That R26 – Additional Community Engagement Officer post be removed from the New Revenue Pressures and Investment Proposals (Appendix B).

REASONS FOR DECISIONS:

(1)       To ensure that all relevant factors are taken in to consideration when arriving at a proposed budget for 2020/21, to be considered by Full Council on 6 February 2020;

(2)       To ensure that the medium term impacts of decisions are considered, and how a balanced budget will be set for future years.