Decision details

To provide Cabinet with an update on the 2016/17 Budget and Medium Term Financial Strategy 2017/18 to 2020/21. Having considered the draft budget in January the report sets out:

•  any changes that have occurred subsequently;

•  impacts on reserves;

•  level of Council Tax;

•  consideration of the Resolution that will be presented to Full Council on 24th February 2016; and

•  risks associated with the budget and relevant sensitivity analysis.

RECOMMENDS

that the Council approve:

i.  the budget for 2016/17 and MTFS 2017/18 to 2020/21 (this includes Revenue at Section 2 and the Capital Programme at Section 3 of Appendix 1 of the submitted report) subject to the following amendments;

a.  Section 3 – Capital - Table G

Regarding the Disabled Facility Grant that the gross amount in the budget remains the same and the ‘Grants and Contributions’ and ‘Internal Borrowing’ amended to reflect the additional £0.5m in Disabled Facility Grant that has been awarded to the Council for 2016/17. 

b.  Section 6 - Formal 2016/17 Council Tax Resolution (as tabled at the meeting)

6.1 .b (i)  £82,326,188

    6.1.b (ii)  £68,949,819

    6.1.b (iii)  £13,376,369

    6.1.b (v)  £5,471,086

ii.  fees and charges for 2016/17 (Appendix 1, Section 7 and Annex A of the submitted report);

iii.  freezing of the Council Tax for 2016/17 at £133.18 at Band D; and

iv. new ‘Plan-on-a-Page’ financial savings targets.

It is a requirement of the Council to set an annual budget and to have a Medium Term Financial Strategy.

In preparing the budget the Council has considered a range of options which are analysed within the main section of the report.

The resource implications have been included within the main body of the report.