Agenda item

To approve the Draft Revenue Budget 2020/21 and the Medium Term Financial Strategy 2021/22 to 2024/25.

Executive Councillor: J A Gray.

Cabinet approved:

§  Overall Draft Budget 2020/21 and Medium Term Financial Strategy 2021/22 to 2024/25 as outlined in Appendix 1;

§  Savings and growth proposals as outlined in paragraph 4.1 to 4.6 (Appendices 3 and 4);

§  Draft Capital Programme 2020/21 to 2024/25 as outlined in paragraphs 9.1 and 9.2; and

§  Planned increase in Council Tax of 2.6% for 2020/21 and for the duration of the Medium term Financial Strategy as outlined in paragraphs 7.1 to 7.3 (Table 6).

(Councillor D B Dew, Chairman of the Overview and Scrutiny Panel (Performance and Growth, was in attendance for consideration of this item).

By way of a report by the Finance Manager (a copy of which is appended in the Minute Book) Executive Councillors were presented with the details of the Draft Budget 2020/21 and the revised Medium-Term Financial Strategy for the period 2021/22 to 2024/25.

The Finance Manager reported upon the opportunity she had to challenge and deliver a robust and resilient budget. Efforts had been made to ensure the figures were as realistic as possible particularly in light of the difficult financial landscape within which the Council was operating. Attention was drawn to the forecast outturn position for 2019/20, the proposed increase in Council Tax of 2.6% and the latest position with Government Grants. Having regard to the latter, reference was made to the Fair Funding Review which would see a reduction in the level of income retained by the Council which would take effect from 2020/21.

The Executive Councillor for Resources commended the Finance Manager and her Team for their efforts in reviewing and refining the budget. He then went on to explain that the budget was in line with the Conservative Group’s 2018 manifesto and tackled the short-term realities and challenges that the Council would be facing in the future. Satisfaction was expressed at the Commercial Investment Strategy and the positive impact that it was having upon the Council’s revenue and in protecting frontline services. It was however acknowledged that the Council was now moving towards Phase 2 of the Strategy which was yet to be defined. In his concluding remarks, the Executive Councillor for Resources went on to explain the need to identify a more robust measure for calculating data in relation to salary statistics within the District. 

Councillor D B Dew, Chairman of the Overview and Scrutiny Panel (Performance and Growth) was invited to report the Panel’s views on the scrutiny of the budget at their meeting on 8th January 2020. He expressed his gratitude at the opportunity Members had to contribute their views and thanked Officers and Members for their support and delivery of a sound presentation at the Panel’s meeting. Overall, the Panel were satisfied with the proposed budget and acknowledged the position in respect of Phase 2 of the Commercial Investment Strategy.

The Cabinet expressed their appreciation to the Executive Councillor for Resources, Senior Officers and staff for their continued assured management of the Council’s finances and production of a comprehensive budget. Having welcomed the reduction in the budget gap at the end of the Medium Term Financial Strategy period which was now estimated to be £0.422m, it was 

RESOLVED

a)  that the overall Draft Budget 2020/21 and Medium-Term Financial Strategy 2021/22 to 2024/25 (as attached as Appendix 1 of the report now submitted) be approved;

b)  that the savings and growth proposals (as per paragraphs 4.1 to 4.6 and attached as Appendices 3 and 4 of the report now submitted) of the draft Budget 2020/21 be approved;

c)  that the draft Capital Programme 2020/21 to 2024/25 (as per paragraphs 9.1 to 9.2 of the report now submitted) be approved; and

d)  that the planned increase in Council Tax of 2.6% for 2019/20 and for the duration of the Medium-Term Financial Strategy (as per paragraphs 7.1 to 7.3 and Table 6 of the report as submitted) be approved.