Decision details

Purpose of the report: To present financial strategy, including the detailed Revenue Budget proposals for 2012 - 2014.

Members are asked to: recommend to Council approval of the budget proposals as outlined in the report and set out in detail within the financial strategy

RESOLVED:      i)     That, having considered:

a.      Expenditure pressures facing the council as set out in the report.

b.      Impacts of savings proposals set out in Annex 2.

c.       Medium term financial factors facing the council as outlined in the report.

d.      Projected levels of reserves as set out in the report.

e.      Statutory advice from the Director of CBSS.

It be

RECOMMENDED:     i)        That Council approve the budget proposals outlined in the report of the Director of Customer and Business Support Services and set out in detail within the financial strategy, in particular:

a.         The net revenue expenditure requirement of £122.235m.

b.         The revenue growth proposals as outlined in the body of the report.

c.         The revenue savings proposals as outlined in Annex 2.

d.         The Housing Revenue Account budget set out in Annex 4.

e.         The dedicated schools grant proposals outlined in Annex 5.

ii)      Council agree that the governance/financial administration of the Delivery and Innovation Fund be in accordance with the Council’s Venture Fund, specifically that the Director of CBSS (in consultation with the Leader) has the authority to make approvals of up to £100,000 and that any sums greater than this require the approval of Cabinet, and that further approval is given to reflect this decision in the Council’s Financial regulations.

iii)     Note that the effect of approving the income and expenditure proposals included in the recommendations would result in an increase in the City of York element of the council tax of 2.9%. 

REASONS:  i) and iii)           To ensure a legally balanced budget is set.

ii)       To ensure appropriate governance arrangements are in place for the Delivery and Innovation Fund.