Agenda item

*RESOLVED –

That it be recommended to Full Council that:

1.    The revised budget for 2019/20, as detailed in section 5 of the officer’s report, be approved.

2.    The requests for funding from the Budget Risk Reserve, as detailed in paragraphs 5.3 to 5.6 of the officer’s report, be approved.

3.    The overall revenue budget summary for 2021/22, as detailed in section 7 and Appendix A of the officer’s report, be approved.

4.    The Collection Fund and the Tax Base forecasts, as detailed in section 8 of the officer’s report, be noted.

5.    The use of the capital receipts flexibility to fund the revenue costs of the ICT programme which will lead to budget savings, as detailed in section 9 of the officer’s report, be approved.

6.    The budget forecasts for 2020/21 and the medium term and the action plan for addressing the projected deficits, as detailed in section 10 of the officer’s report, be noted.

7.    The estimates of reserves including maintaining the General Working Balance at £1.5m, as detailed in section 11 and Appendix D of the officer’s report, be approved.

8.    The budget risks and sensitivity analysis, as detailed in Appendix E of the officer’s report, be noted.

9.    The recommended £5 increase in the Council’s share of Council Tax for a Band ‘D’ property in 2020/21 be approved.

10.  The 2020/21 Council Tax Requirement and financing, as detailed in Appendix F of the officer’s report, be approved.

11.  The Acting Chief Finance Officer’s assurances, as detailed in section 16 of the officer’s report, be noted.

REASON FOR DECISIONS

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

The Acting Chief Finance Officer submitted a report on the General Fund Budget. The report also included recommendations that would be made to Full Council on budget allocations and the Council Tax level for 2020/21.

The original budget for 2019/20 was approved in February, 2019 and predicted a deficit of £202k. Throughout 2019/20 there had been active management of budget variances and regular budget monitoring reports to identify further variances. Due to this strict budgetary control, the updated revised budget for 2019/20 showed an estimated surplus of £148k.

The budget for 2020/21 had been prepared assuming a council tax increase of £5 for a Band ‘D’ property, which equates to a rise of 9.6 pence a week towards the costs of services provided by Chesterfield Borough Council.

Members were also informed of the expenditure estimates for the coming financial year as well as the medium term forecasts for 2021/22 through to 2024/25.

*RESOLVED –

That it be recommended to Full Council that:

1.   The revised budget for 2019/20, as detailed in section 5 of the officer’s report, be approved.

2.   The requests for funding from the Budget Risk Reserve, as detailed in paragraphs 5.3 to 5.6 of the officer’s report, be approved.

3.   The overall revenue budget summary for 2021/22, as detailed in section 7 and Appendix A of the officer’s report, be approved.

4.   The Collection Fund and the Tax Base forecasts, as detailed in section 8 of the officer’s report, be noted.

5.   The use of the capital receipts flexibility to fund the revenue costs of the ICT programme which will lead to budget savings, as detailed in section 9 of the officer’s report, be approved.

6.   The budget forecasts for 2020/21 and the medium term and the action plan for addressing the projected deficits, as detailed in section 10 of the officer’s report, be noted.

7.   The estimates of reserves including maintaining the General Working Balance at £1.5m, as detailed in section 11 and Appendix D of the officer’s report, be approved.

8.   The budget risks and sensitivity analysis, as detailed in Appendix E of the officer’s report, be noted.

9.   The recommended £5 increase in the Council’s share of Council Tax for a Band ‘D’ property in 2020/21 be approved.

10.                The 2020/21 Council Tax Requirement and financing, as detailed in Appendix F of the officer’s report, be approved.

11.                The Acting Chief Finance Officer’s assurances, as detailed in section 16 of the officer’s report, be noted.

REASON FOR DECISIONS

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