Issue - meetings

Medium Term Financial Strategy and Budget Proposals 2020/21

Meeting: 12/02/2020 - Policy and Resources Committee (Item 151)

151 Medium Term Financial Strategy and Budget Proposals 2020/21 pdf icon PDF 107 KB

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The Director of Finance and Business Improvement presented the report on the Medium Term Financial Strategy (MTFS) and Budget Proposals for 2020/21.  The report was the final stage of the committee’s consideration of the budget prior to it going forward to Council for consideration on 26 February 2020.  It was noted that the Council controlled 90% of its income and that with the local government funding settlement being rolled forward by the Government in the short term the recommendation was for a standstill budget in real terms, including a 2% council tax increase.


The substantive proposal from the other service committees was from the Strategic Planning and Infrastructure Committee that proposed that the additional £200k annual local plan review funding be made permanent rather than end when this local plan review ended.  This was because reviewing the local plan would be repeated in the future.  This proposal would have no impact for next year’s budget but would impact in future years as set out in the MTFS.


The projected surplus had risen to £87k and the recommendation was that this was rolled forward to offset future deficits in the future.  The future position was less clear than next year’s budget.  10% of council income was not in the Council’s control as it related to business rates.  The baseline for business rates would be reset and a fair funding review was being carried out by the Government.  This meant that the proportion of business rates retained by the Council was uncertain.


A number of minor corrections were to figures in the report that did not impact on the overall totals in the report.


The Committee raised a number of questions relating to the additional £200k for the local plan review being made permanent in future budgets.  Reassurance was provided that the £200k was in addition to the existing staffing budget but concerns remained about the future funding situation of local plan reviews.




1.  The outcome of consideration of budget proposals by the Service Committees be noted;


2.  The updated Strategic Revenue Projection set out in Appendix A be agreed;


3.  The Budget Savings Proposals set out in Appendix B be agreed;


4.  The Revised Estimates for 2019/20 and the Budget Estimates for 2020/21 set out in Appendix C for recommendation to Council be agreed;


5.  The Capital Programme set out at Appendix D for recommendation to Council be agreed;

6.  The Treasury Management Strategy, Investment Strategy and Capital Strategy set out in Appendix E for recommendation to Council be agreed;


7.  A £5.13 increase in Band D Council Tax for 2020/21 for recommendation to Council be agreed;


8.  That the tax base for Linton Parish Council calculated in accordance with the Local Authority (Calculation of Council Tax Base) (England) Regulations 2012 for the year 2020/21 be amended from 93.5 to 254.5 (see paragraph 2.18) be agreed;


9.  The updated Medium Term Financial Strategy set out in Appendix G be agreed; and


10.  The appropriate matters for decision to  ...  view the full minutes text for item 151