Agenda item

Cabinet adopted the draft Revenue and Capital Budgets for 2021/22 at its meeting on 6 January 2021. A joint meeting of the Overview and Scrutiny Committees reviewed those budgets on 14 January 2021 and the Housing Review Board considered the Housing Revenue Account budgets on 21 January 2021.

The Strategic Lead Finance reminded members that Cabinet adopted draft Revenue and Capital Budgets for 2021/22 at its meeting on 6 January 2021. A joint meeting of the Overview and Scrutiny Committees reviewed those budgets on 14 January 2021 and the Housing Review Board considered the Housing Revenue Account budgets on 21 January 2021. Cabinet was to consider the comments and recommendations and make their recommendations to Council.

Cabinet agreed the recommendations from the Joint Overview and Scrutiny in Minutes 114a – d and 120a – f and 121 from the meetings on 13 and 14 January 2021.

Cabinet agreed a further recommendation by the Overview Committee and the Scrutiny Committee that the Service Plan 2021/22 for the Planning Service be adopted, subject to:

a) Reference to both social and affordable housing;

b) Inclusion of the recommendations from the audit on CIL and section 106.

Cabinet agreed the recommendation in Minute 28 of the Poverty Working Panel from the meeting of the 18 January 2021.

Cabinet agreed the recommendations in Minutes 91 and 92 of the Housing Review Board from the meeting of the 21 January 2021.

In answer to a question concerning the core principals of the budget being based on the outdated Council Plan, the Strategic Lead Finance highlighted the key objectives from present administration’s Statement of Intent had been included when preparing the budget.

The Portfolio Holder Finance thanked Simon Davey and his team for their ability to produce a balanced budget in what had been a most difficult year. The Chair wished to thank the Chairs and members of the joint Overview and Scrutiny committees commenting he was grateful for their consideration.

As part of the Prudential Code for Capital Finance in Local Authorities the Council was required to set prudential indicators as part of its budget setting process, these indicators were detailed in the Treasury Management Strategy 2021/22 – Minimum Revenue Provision Policy Statement and Annual Investment Strategy contained in the report for members’ consideration. Alongside the Treasury Management Strategy sits the Capital Strategy which was also contained in the agenda for adoption.

RECOMMENDED to Council;

1.     To propose the Net Revenue General Fund Budget of £15.763m for 2021/22.

2.     That expenditure at this stage is approved against the budget allocated of £1.316m from additional one off Government Funding (Covid-19 grant £616k and Lower Tier Service Grant £700k);

a)     Contingency Hardship Fund £100k

b)     Mental Health Officer/Resources £50k

With other allocations against this budget to be made with Council approval.

3.     A Council Tax increase is approved of £5 a year giving a Band D council tax of £151.78 a year for 2021/22.

4.     That the surplus identified on the Council Tax Collection Fund of £366,940 is allocated as outlined in 3.3 of the report;

a) £189,189 is set aside in a reserve to meet the known collection fund deficit in future years,

b) £177,751 is used to increase the General Fund Balance, bringing it more comfortably within the adopted range.

5.     That the Housing Revenue Account Estimates with a net surplus of £0.985m is approved.

6.     That the Net Capital Budget totalling £7.965m for 2021/22 is approved.

REASON:

There was a requirement for the Council to set a balanced budget for both the General Fund and Housing Revenue Account and to levy a Council Tax for 2021/22.