Agenda item

2017/18 Budget and Medium Term Financial Plan

Minutes:

Pursuant to Cabinet Minute No.141, the Director of Finance and Resources submitted a report to seek Council approval for the General Fund Budget for 2017/18.

 

In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a recorded vote was taken for this item as follows:-

 

FOR –

 

Councillors                                                          Councillors

 

Bagley                                                       Flood

J Barr                                                         P Gilby

P Barr                                                        T Gilby

Bexton                                                       Hill

Blank                                                                   Hollingworth

Brady                                                         Huckle

Brittain                                                       J Innes

Brown                                                        P Innes

Burrows                                                     Ludlow

Callan                                                        Miles

Catt                                                            A Murphy

D Collins                                                    T Murphy                     

L Collins                                                    Parsons

Derbyshire                                                Perkins               

Dickinson                                                  Sarvent

Dyke                                                          Serjeant

Elliott                                                          Simmons

Slack

Wall

 

AGAINST –

 

None

 

ABSTENTIONS –

 

Councillors

 

Bingham

Borrell

Davenport

A Diouf

V Diouf

Niblock

Redihough

 

RESOLVED –

 

1.

That the revised budget for 2016/17 be approved.

 

2.

The Local Government Finance Settlement be noted.

 

3.

The Collection Fund and the Tax Base forecasts be noted.

 

 

4.

The Portfolio budgets and the overall revenue budget summary for 2017/18 be approved.

 

 

5.

That authority be delegated to the Director of Finance and Resources in consultation with the Leader, Deputy Leader and Chief Executive to review what is required to ensure that the council makes best use of the flexibility available to use capital receipts for revenue purposes where such investment will lead to budget savings.

 

 

6.

The budget forecasts for 2017/18 and the medium term, as well as the strategy for addressing the projected deficits be noted.

 

 

7.

That the growth request of £100k for an HS2 project officer, to be funded from the Service Improvement Reserve be approved.

 

 

8.

That the estimates of reserves including:

 

     i.        maintaining the General Working Balance at £1.5m;

 

    ii.        transferring from the Crematorium Capital Improvement and Revenue Reserves (subject to Chesterfield and District Joint Crematorium Committee approval), £200,000 to a new Northern Gateway reserve to support underwriting the Jomast Coop development and £250,000 into the Business Rate Risk Reserve;

 

   iii.        Using £467,302 of Insurance Reserve surplus funds by retaining in the Insurance Reserve £60,000 to cover insurance excesses and self-insurance charges, transferring £407,302 to the General Fund  to reduce General Fund contributions into reserves in order to support the budget position by £150,000 in both 2017/18 and 2018/19, and by £107,000 in 2019/20.

 

be approved.

 

 

9.

The budget risks and sensitivity analysis be noted.

 

 

10.

The recommended £5 increase in Council Tax for 2017/18 be approved.

 

 

11.

The 2017/18 Council Tax Requirement and financing be approved.

 

 

12.

The Director of Finance and Resources assurances be noted.

 

Supporting documents: