Agenda item

(Copy herewith)

Councillor Hallam submitted a report which reported the outcome report the outcome of the consultation process on the 2016/17 General Fund budget and the final formula grant settlement for 2016/17 and to agree the Cabinet’s recommendations for the General Fund revenue and capital budgets, the level of Council Tax increase for 2016/17 and indicative levels for 2017/18 to 2020/21. It also sought approval of the Treasury Management Strategy and Capital Strategy attached to the report.

Councillor Markham seconded the report.

Councillor Gowen proposed and Councillor Stone seconded amendments, on the attached supplementary document to the minutes.

There voted for the amendments Councillors Ashraf, Beardsworth, Birch, Choudary, Chunga, G Eales, T Eales, Gowen, Haque, Marriott, Meredith, Russell, Smith and Stone.

There voted against the amendments: Councillors Ansell, Aziz, Bottwood, Caswell, Eldred, Golby, Hallam, Hibbert, J Hill, M Hill, Kilbride, Lane, Larratt, Lynch, Malpas, Markham, Nunn, Oldham, Parekh, Patel, Sargeant, Shaw and Walker.

There abstained the Mayor.

The amendment was lost.

Councillor Beardsworth proposed and Councillor Meredith seconded amendments on the attached supplementary documents to the minutes.

There voted for the amendments: Councillors Ashraf, Beardsworth, Birch, Choudary, Chunga, G Eales, T Eales, Gowen, Haque, Marriott, Meredith, Russell, Smith and Stone.

There voted against the motion: Councillors Ansell, Aziz, Bottwood, Caswell, Eldred, Golby, Hallam, Hibbert, J Hill, M Hill, Kilbride, Lane, Larratt, Lynch, Malpas, Markham, Nunn, Oldham, Parekh, Patel, Sargeant, Shaw and Walker.

There abstained the Mayor

The amendment was lost.

Council debated the recommendations contained within the report.

There voted for the recommendations: Councillors Ansell, Aziz, Bottwood, Caswell, Eldred, Golby, Hallam, Hibbert, J Hill, M Hill, Kilbride, Lane, Larratt, Lynch, Malpas, Markham, Nunn, Oldham, Parekh, Patel, Sargeant, Shaw and Walker.

There voted against the recommendations: Councillors Ashraf, Birch, Choudary, Chunga, G Eales, T Eales, Gowen, Haque, Marriott, Russell, Smith and Stone.

There abstained the Mayor and Councillors Beardsworth and Meredith.

The recommendations in the report were agreed:

RESOLVED:

2.1         That the feedback from consultation with the public, organisations and the Overview and Scrutiny and Audit Committees be considered and welcomed (detailed at Appendices 1, 2 and 3 of attached Cabinet report).

2.2         That the General Fund Revenue Budget for 2016/17 of £29.6m (excluding parishes) be approved (detailed in Appendices 4, 5 and 6 of attached Cabinet report).

2.3         That Council does not increase the Council Tax for its own purposes, i.e. excluding County, Police and Parish Precepts, for 2016/17.

2.4         That Council approved the General Fund Capital Programme and proposed financing for 2016/17 as set out in Appendix 7 of attached Cabinet report.

2.5         That Council confirmed the aim of maintaining a minimum level of General Fund reserves of £5.3m for 2016/17, having regard to the outcome of the financial risk assessment.

2.6         That authority be delegated to the Chief Finance Officer in consultation with the Cabinet Member for Finance, and where appropriate the relevant Director and Cabinet Member to:

·           Transfer monies to/from earmarked reserves should that become necessary during the financial year.

·           Update prudential indicators in both the Prudential Indicators Report and Treasury Strategy Report to Council, for any budget changes that impact on these.

2.7         That the draft Fees and Charges set out in Appendix 10 of the attached Cabinet report be approved, including immediate implementation where appropriate.

2.8         That Council approved the Treasury Management  Strategy for 2016-17 at Appendix 11 of the attached Cabinet report: incorporating:

                    (i)        The Capital Financing and Borrowing Strategy for 2016-17 including:

·           The Council’s policy on the making of Minimum Revenue Provision (MRP) for the repayment of debt, as required by the Local Authorities (Capital Finance & Accounting) (England) (Amendment) Regulations 2008.

·           The Affordable Borrowing Limit for 2016-17 as required by the Local Government Act 2003.

(ii) The Investment Strategy for 2016-17 as required by the CLG revised Guidance on Local Government Investments issued in 2010.

2.9         That authority be delegated to the Council’s Chief Finance Officer, in liaison with the Cabinet member for Finance, to make any temporary changes needed to the Council’s borrowing and investment strategy to enable the authority to meet its obligations.

2.10      That Council approved the Capital Strategy for 2016 to 2021 as attached as Appendix 12 of the attached Cabinet report.

2.11      That Council delegated authority to the Chief Executive, Directors and Chief Finance Officer to implement all budget options and restructures.