Medium Term Financial Strategy and Budget Proposals 2019/20
- Meeting of Policy and Resources Committee, Wednesday 13th February, 2019 6.30 pm (Item 177.)
- View the background to item 177.
Mr Mark Green, Director of Finance and Business Improvement, presented the Medium Term Financial Strategy and Budget Proposals for 2019/20 to the Committee.
Mr Green outlined that the budget proposals had been considered by each of the Service Committees, who had commented and made amendments to their budgets. The Medium Term Financial Strategy recommended 2.99% rise in Council Tax to ensure the Council’s finances were secure and that key services would continue to be delivered.
The Committee discussed the budget proposals and concluded that there were a number of items that were required to be added in to the budget which could be funded through the underspend arising from the better than expected performance of the 100% Business Rates Retention Pilot. These proposals were:
Retaining the Member Community Grant Scheme for
2019/20, as this scheme had enabled members to make a positive
impact in their wards.
The issue of public toilet provision in the Borough
had long been raised by residents, and a thorough review of this
issue would be prudent.
· Delaying the savings proposed for the Festivals and Events budget for a year would allow the community events supported by this budget more time to find alternative funding sources.
A further amendment was moved to the budget containing the following proposals:
· Reduce expenditure on Communications (£90k)
· Reduce MBC facilitation on Tourism, Festivals and Events (£30k)
· Redeploy Police and Crime Commissioner’s Grant (£40k)
· Move to all out elections every four years (£80k)
· Review Community Partnerships and Resilience (£100k)
· Review Cultural Services Section (£130k)
· Council Tax to remain at the same level in 2019/20 as in 2018/9
However this amendment fell.
The outcomes of considerations of budget proposals
by Service Committees are noted.
The Strategic Revenue Projection set out in Appendix
A is agreed.
The Budget Proposals set out in Appendix B are
agreed, subject to the following additions:
Members Community Grant retained for 2019/20 (up to £60k)
Public Toilets Review (£10k)
Proposed saving in 2019/20 for Festival and Events deferred to
The allocation of £50,000 from the Parking
Fund for Transport Planning in 2019/20 is agreed.
Council is recommended to agree the revised
estimates for 2018/19 and the Budget Estimates for 2019/20 set out
in Appendix C.
Council is recommended to agree the Capital
Programme set out in Appendix D.
Council is recommended to agree the Treasury
Management Strategy, Investment Strategy and Capital Strategy set
out in Appendix E.
Council is recommended to agree a £7.56
increase in Council Tax for 2019/20.
The updated Medium Term Financial Strategy, set out
in Appendix G, is agreed.
10. The appropriate matters for decision to set a balanced budget for 2019/20 and the necessary level of Council Tax in accordance with the Local Government Finance Act 1992 and the Localism Act 2011 including the decisions made above are recommended to Council.
Voting: For - 10 Against - 2 Abstentions – 2
Note: Councillors English and Purle left the meeting at the conclusion of this item.
- Medium Term Financial Strategy and Budget Proposals 2019/20., item 177. PDF 128 KB View as HTML (177./1) 135 KB
- Appendix A: Strategic Revenue Projection 2019/20 to 2023/24, item 177. PDF 50 KB View as HTML (177./2) 10 KB
- Appendix B: Summmary, item 177. PDF 196 KB
- Appendix B: P&R, item 177. PDF 206 KB
- Appendix B: CHE, item 177. PDF 201 KB
- Appendix B: HCL, item 177. PDF 198 KB
- Appendix B: SPST, item 177. PDF 200 KB
- Appendix C: Revised Estimates for 2018/19 and Draft Budget Estimates for 2019/20, item 177. PDF 232 KB
- Appendix D: Capital Programme 2019/20 to 2023/24, item 177. PDF 38 KB View as HTML (177./9) 10 KB
- Appendix E: Treasury Management Strategy, item 177. PDF 296 KB View as HTML (177./10) 358 KB
- Appendix F: Statement of General Fund Balances and Earmarked Reserves, item 177. PDF 55 KB View as HTML (177./11) 10 KB
- Appendix G: Updated Medium Term Financial Strategy 2019/20 to 2023/24, item 177. PDF 304 KB View as HTML (177./12) 478 KB