Agenda item

This report presents the financial strategy 2016/17 to 2020/21, including detailed revenue budget proposals for 2016/17, and asks Members to recommend to Council approval of the proposals. 

Resolved:           That Executive approve:

(i)           The average rent decrease of 1.0% to be applied to all ‘social housing rents’ for 2016/17, as required by legislation. This is shown in table 13 and described in paragraphs 110 to 112 of the report.

(ii)          The average rent increase of 0.9% to be applied to all rents which fall outside the definition on ‘social housing rents’ for 2016/17, as described in paragraph 113 of the report.

Reason:     To ensure the ongoing financial stability of the Housing Revenue Account and allow work on improving the quality of the council’s affordable housing to continue.

[See also Part B minute]

Members considered a report which presented the financial strategy for 2016 to 2021, including detailed revenue budget proposals for 2016/17 for Council approval.

Officers reported receipt of an additional £781k Local Government Finance Settlement which had been received following publication of the Executive agenda.

It was noted that the financial strategy delivered a balanced budget for 2016/17 with savings totalling £6.5m, equivalent to 5.5% of the net budget and a proposed Council Tax increase of 1%. In addition an increase of 2% in 2016/17, in line with the Government’s social care precept, which would e used to fund adult social care costs. The total council tax increase including the Parish, Police and Fire Authority precepts would be agreed at the full Council meeting on 25 February 2016.

Details of the national context and the local issues and challenges were reported with the consultation feedback and the equalities impact of the 2016/17 budget proposals.

The Leader referred to their financial strategy for the next four year period, noting the additional funds from the financial settlement and acknowledging that staff were the authorities’ biggest resource.

Executive Members thanked Officers for their work on the budget whilst also reporting on their individual budget pressures and any mitigation measures in their portfolio areas.

Resolved:           That Executive approve:

(i)           The average rent decrease of 1.0% to be applied to all ‘social housing rents’ for 2016/17, as required by legislation. This is shown in table 13 and described in paragraphs 110 to 112 of the report.

⁽ⁱⁱ⁾                 The average rent increase of 0.9% to be applied to all rents which fall outside the definition on ‘social housing rents’ for 2016/17, as described in paragraph 113 of the report. ^1.

Reason:     To ensure the ongoing financial stability of the Housing Revenue Account and allow work on improving the quality of the council’s affordable housing to continue.