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The Head of Finance introduced
the report, which had been prepared in the context of the continued
impact of the Covid-19 pandemic and the proposed re-prioritisation
of the Strategic Plan objectives as reported to the Policy and
Resources Committee in July 2020.
The Committee were informed
that Council Tax charge would likely increase by 2% and that the
same level of income would be retained under the business rates
retention scheme as in the previous year. The cost of borrowing for
the capital programme would be reduced to around 1%, providing that
the Council was not investing solely for yield.
The results of the
residents’ survey were highlighted, with the two most
important services identified as waste collection and parks and
open spaces. The proportion of residents that believed the
Council’s services represented value for money remained
similar to previous years. Further
detailed budget proposals to be brought to each committee in
January 2021.
The Committee expressed that
further comments would be provided once the details proposed had
been received.
RESOLVED:
That the Medium-Term Financial Strategy be noted and the Committee’s comments be taken
into account.