Issue - meetings

To consider a report by the Director of Commerce and Technology on the draft budget and 2006 – 2010 Medium Term Plan and to determine final recommendations to the Council on the level of Council Tax in 2005/6.

Subject to adjustments for the decision on the Huntingdon bus station scheme, the £8,000 reduction in Government grant and the resulting impact on interest receipts and the funding of all of these from revenue reserves, the spending proposals summarised in Annex C to the report were approved.

A Council Tax of £106.54 for a Band D property for 2005/06 and the indicative levels for 2006/07 onwards as shown in Annex C to the report were approved.

Subject to any necessary variations relating to the adjustments referred to above, the Prudential Indicators at Annex F to the report were approved.

Subject to the fact that there is limited certainty that the efficiency savings target can be achieved but that the revenue reserves are sufficiently large for this not to be an issue in 2005, the Director of Commerce and Technology’s comments on the Reserves on the Robustness of the budget at Annex G of the report were approved.

The 2005/06 and 2006/07 capital programmes were approved to increase opportunities for lower tender prices.

By way of a report by the Director of Commerce and Technology (a copy of which is appended in the Minute Book) the Cabinet was acquainted with a number of variations to assumptions made previously for the purpose of preparing the draft Budget and Medium Term Plan (MTP) for the period 2006 – 2010 and the level of Council Tax for 2005/06.

Having been acquainted with the deliberations of the Overview and Scrutiny Panels on this matter and the outcome of consultation with the business community on expenditure proposals, the Cabinet

RECOMMENDED -

(a)  that, subject to appropriate adjustments to reflect revenue implications inherent in resolution (d) in Minute No. 123 ante, the £8,000 reduction in Revenue Support Grant and the resulting impact on interest receipts, the spending proposals summarised in Annex C to the report now submitted be approved;

(b)  that a Council Tax level of £106.54 for a Band D property for 2005/06 and the indicative levels for 2006/07 onwards as shown in Annex C to the report now submitted be approved;

(c)  that, subject to any necessary variations relating to the adjustments referred to in resolutions (a) and (b) ante, the Prudential Indicators at Annex F to the report now submitted be approved;

(d)  that, notwithstanding the lack of information currently available which would enable the Council to guarantee achieving indicative targets in the Gershon efficiency review and in the light of revenue reserves likely to be available to the Council in 2005/06, the Director of Commerce and Technology’s comments on the robustness of the budget as shown in Annex G now submitted be noted; and

(e)  that the 2005/06 and 2006/07 capital programme be approved to increase the opportunities for achieving lower tender prices.