Decision details

*RESOLVED -

That it be recommended to Full Council that:

1.   The revised budget for 2015/16 be approved.

2.   The Local Government Finance Settlement be noted.

3.   That, subject to receiving a full report of the implications of the offer, the principle of receiving a four year Local Government Finance Settlement be approved.

4.   The Collection Fund and the Tax Base forecasts be noted.

5.   The Portfolio budgets and the overall revenue budget summary for 2016/17 be approved.

6.   Authority be delegated to the Chief Finance Officer in consultation with the Leader, Deputy Leader and Chief Executive to review what is required to submit an Efficiency Strategy for the Council to ensure that maximum opportunity is taken from the proposed flexibility in relation to the future use of capital receipts.

7.   The budget forecasts for 2016/17 and the medium term as well as the strategy for addressing the projected deficits be noted.

8.   The estimates of reserves including:

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

                   II.        allocating £40k from the Invest to Save Reserve and £110k from the Service Improvement Reserve to finance the £150k budget growth request for support to deliver the Council’s savings targets;

                  III.        allocating £245k from the Property Repairs Fund to fund capital programme schemes;

be approved.

9.   The budget risks and sensitivity analysis be noted.

10.    The Local Business Rate Retail Relief schemes, for which the Government will no longer be providing funding, cease.

11.    The recommended £5 increase in Council Tax for 2016/17 be approved.

12.    The 2016/17 Council Tax Requirement and financing be approved.

13.    The Chief Financial Officer’s assurances be noted.

REASON FOR DECISIONS

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