Decision details

*RESOLVED –

That it be recommended to full Council that:

1.   The revised budget for 2017/18 be approved.

2.   The Local Government Finance Settlement be noted.

3.   The Collection Fund and Tax Base forecasts be noted.

4.   The portfolio budgets and overall revenue budget summary for 2018/19 be approved.

5.   Delegated authority be granted 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 maximum opportunity is taken from the flexibility available to use capital receipts for revenue purposes where such investment will lead to budget savings.

6.   The budget forecasts for 2019/20 and the medium term forecasts, as well as the strategy for addressing the projected deficits, be noted.

7.   The growth request of £10k for each of the next two years to enable the implementation of the Council’s Skills Action Plan, be approved.

8.   Approval be given to the estimates of reserves, including:

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

                    ii.        The phasing of the recommended £200k insurance provision increase over 5 years;

                   iii.        The creation of an ICT Digital Innovation reserve to fund the cost of ICT development.

9.   The budget risks and sensitivity analysis be noted.

10.  The recommended £5 increase in Council Tax for a Band ‘D’ property in 2018/19 be approved.

11.  The 2018/19 Council Tax Requirement and financing be approved.

12.  The Director of Finance and Resources’ assurances be noted.

REASON FOR RECOMMENDATIONS

In order to meet the statutory requirements relating to setting a budget and the council tax.