Issue - meetings

To consider the recommendation to be made to full Council on the Financial Strategy, in the light of the comments made by the Overview and Scrutiny Panel (Planning and Finance)

Recommended to full Council: that the Council endorse a financial strategy based around that described in paragraph 5.7 of the Report with a minimum increase in Band D Council Tax for 2005/06 amounting to £12 per annum.

Further to Minute No. 04/35, further consideration was given to a report by the Director of Commerce and Technology (a copy of which is appended in the Minute Book) setting out a range of potential options available in terms of adopting a strategy for managing the Council’s finances in the period to 2011/12.  A report by the Head of Administration summarising the deliberations of the Overview and Scrutiny Panel (Planning and Finance) on the matter was also circulated.

Having noted the views expressed by the Overview and Scrutiny Panel and given:-

¨  ongoing review work in relation to the Council’s base budget, Medium Term Plan and fees and charges; and

¨  the availability imminently of information on the outcomes of the consultation with residents on options for spending on local services and Council Tax levels;

it was

RESOLVED

  that full Council be recommended to endorse a financial strategy based around that described in paragraph 5.7 of the report now submitted with a minimum increase in Band D Council Tax for 2005/6 amounting to £12 per annum.

To consider a report by the Director of Commerce and Technology on the Council’s future Financial Strategy.

The report on the financial strategy is to be submitted to the Overview and Scrutiny Panel (Planning and Finance) for comments and the Panel is to be informed that the Cabinet has expressed a preference initially for the ‘mid-course’ option and an increase in Council tax equivalent to £12 per year deliberations.

A further report was requested for the next meeting.

Consideration was given to a report by the Director of Commerce and Technology (a copy of which is appended in the Minute Book) setting out a range of potential options available in terms of adopting a strategy for managing its finances in the period to 2011/12. 

In so doing, Executive Councillors were acquainted with the assumptions made in setting and updating the budget for the current year, Government policies and grant regimes, the work which had been undertaken thus far in reviewing the Council’s base budget and Medium Term Plan and the implications of adopting a service or tax-driven alternative.  Having reviewed those alternatives the Cabinet expressed a preference initially for a combination, reflecting a scenario between the options outlined in paragraph 5.2 and 5.7 of the report with Council tax increases approximating to £12 per year.  Against that background and in reflecting that the outcomes of the residents’ consultation on options for spending on local services and Council tax levels would be available shortly, it was

RESOLVED

  (a)that the report be submitted to the Overview and Scrutiny Panel (Planning and Finance) for comment and the Panel informed of the Cabinet deliberations thus far; and

  (b)that a further report be submitted to the next meeting of the Cabinet.