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Agenda item

Budget Strategy 2011/12 Onwards

Decision:

1. That a provisional spending level of £20.21 million for 2011/12 and a Council Tax freeze in line with the Government’s proposal be agreed.

2. That working balances be set at £2.3million at this time and to monitor this level as part of the standard budget monitoring during 2011/12.

3. That the draft medium term financial strategy as set out in Appendix G of the report of Management Team and its connection to the draft strategic plan be noted.

4. That the results of the budget consultation be noted.

5. That the changes to the budget pressures as set out below be agreed:-

	2011/12 £000	2012/13 £000	2013/14 £000	2014/15 £000
Reduced Income from Regeneration			-230	+230
Pension Fund Valuation	-500	-500	-500
Concessionary Fares	-150
Refuse & Recycling			-300
Local Development Framework	-400
Homelessness Strategy	-70
Cost of Borrowing	-150		+150
Loss of Income	-50
Growth Provision	+100
	-1,120	-500	-880	+230

6. That the revised strategic projection, as set out in Appendix A of the report of Management Team be agreed.

7. That payment by annual instalment of the Council’s contribution to fund the pension fund deficit for the three years 2011/12 to 2013/14 as set out below be agreed:-

	£,000
2011/12	1,206
2012/13	1,260
2013/14	1,325

8. That the savings identified in Appendix B of the report of Management Team be agreed.

9. That the proposed additional use of balances, as detailed in Appendix D of the report of Management Team, be agreed.

10. That the provisional Capital Programme, as detailed in Appendix C of the report of Management Team, be agreed.

Minutes:

DECISION MADE: