Agenda item

*RESOLVED –

That it be recommended to Full Council that:

1.    The updated forecast outturn for 2021/22 which presents a small surplus, as detailed in section 4.9 of the officer’s report, be approved.

2.    Any under spend in respect of 2021/22 be used to supplement the Budget Risk reserve, as detailed in section 4.10 of the officer’s report.

3.    The overall revenue budget summary for 2022/23, as detailed in Appendix A of the officer’s report, be approved.

4.    The 2022/23 Council Tax Requirement and financing, as detailed in Appendix D of the officer’s report, be approved.

5.    The Council’s share of Council Tax for properties in each band be increased on the basis of a £5 increase for a Band ‘D’ property in 2022/23, as detailed in section 4.46 of the officer’s report.

6.    All Band A to D Council Taxpayers will receive a payment of £150.00 towards the cost of their Council Tax bills and that a discretionary amount of funding will also be available to support some Council Taxpayers living in Band E to H properties, for which the details of the scheme are yet to be finalised.

7.    The Local Council Tax Support scheme which remains unchanged for 2022/23, as detailed in section 4.50 of the officer’s report, be approved.

8.    The use of the capital receipts flexibility to fund the costs of the Organisational Development Programme, as detailed in section 4.58 of the officer’s report, be approved.

9.    The Collection Fund and the Tax Base forecasts as detailed in section 4.48 and 4.49 of the officer’s report, be noted.

10.  The financial projections in the Medium-Term Financial Plan (MTFP) for 2023/24 to 2025/26, as detailed in section 4.53 of the officer’s report, be noted.

11.  The estimates of reserves including maintaining the General Working Balance at £1.5m, as detailed in sections 4.63-4.65 and Appendix B of the officer’s report, be approved.

12.  The extension to the scope of the Service Redesign Reserve to support future service improvements promoted through the Organisational Development programme, as detailed in section 4.60 of the officer’s report, be approved.

13.  The budget risks and sensitivity analysis (Appendix C) and the Chief Finance Officer’s assurances (sections 4.66 – 4.78), as detailed in Appendix C and sections 4.66-4.78 of the officer’s report, be noted.

REASON FOR DECISIONS

In order to meet the statutory requirements relating to setting the General Fund revenue budget and the level of Council Tax for 2022/23.

The Service Director - Finance 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 2022/23.

The original budget for 2021/22 was approved in February, 2021 and predicted a deficit of £188k. Throughout 2021/22 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 2021/22 showed an estimated surplus of £128k.

The budget for 2022/23 had been prepared assuming a council tax increase of £5 for a Band ‘D’ property.

Members were also informed of the expenditure estimates for the coming financial year as well as the medium term forecasts for 2022/23 and future years.

*RESOLVED –

That it be recommended to Full Council that:

1.    The updated forecast outturn for 2021/22 which presents a small surplus, as detailed in section 4.9 of the officer’s report, be approved.

2.    Any under spend in respect of 2021/22 be used to supplement the Budget Risk reserve, as detailed in section 4.10 of the officer’s report.

3.    The overall revenue budget summary for 2022/23, as detailed in Appendix A of the officer’s report, be approved.

4.    The 2022/23 Council Tax Requirement and financing, as detailed in Appendix D of the officer’s report, be approved.

5.    The Council’s share of Council Tax for properties in each band be increased on the basis of a £5 increase for a Band ‘D’ property in 2022/23, as detailed in section 4.46 of the officer’s report.

6.    All Band A to D Council Taxpayers will receive a payment of £150.00 towards the cost of their Council Tax bills and that a discretionary amount of funding will also be available to support some Council Taxpayers living in Band E to H properties, for which the details of the scheme are yet to be finalised.

7.    The Local Council Tax Support scheme which remains unchanged for 2022/23, as detailed in section 4.50 of the officer’s report, be approved.

8.    The use of the capital receipts flexibility to fund the costs of the Organisational Development Programme, as detailed in section 4.58 of the officer’s report, be approved.

9.    The Collection Fund and the Tax Base forecasts as detailed in section 4.48 and 4.49 of the officer’s report, be noted.

10.  The financial projections in the Medium-Term Financial Plan (MTFP) for 2023/24 to 2025/26, as detailed in section 4.53 of the officer’s report, be noted.

11.  The estimates of reserves including maintaining the General Working Balance at £1.5m, as detailed in sections 4.63-4.65 and Appendix B of the officer’s report, be approved.

12.  The extension to the scope of the Service Redesign Reserve to support future service improvements promoted through the Organisational Development programme, as detailed in section 4.60 of the officer’s report, be approved.

13.  The budget risks and sensitivity analysis (Appendix C) and the Chief Finance Officer’s assurances (sections 4.66 – 4.78), as detailed in Appendix C and sections 4.66-4.78 of the officer’s report, be noted.

REASON FOR DECISIONS

In order to meet the statutory requirements relating to setting the General Fund revenue budget and the level of Council Tax for 2022/23.