Agenda item

The Director of Customer & Corporate Services and the Head of Corporate Finance & Commercial Procurement to present a report which asks Executive to recommend to Council the financial strategy for 2020/21 to 2024/25, including the detailed revenue budget proposals for 2020/21.

Recommended:  That Council approve the budget proposals set out in the report to Executive; in particular:

a)   The net revenue expenditure requirement of £127.223m

b)   A council tax requirement of £93.808m

c)   The revenue growth proposals outlined in the body of the report

d)   The 2020/21 revenue savings proposals outlined in Annex 2

e)   The fees and charges proposals outlined in Annex 3

f)     The consultation feedback set out in Annex 4

g)   The Housing Revenue Account (HRA) growth set out in Annex 5, and the HRA savings proposals set out in Annex 6

h)   The dedicated schools grant proposals outlined from paragraph 154

i)     The use of £420k New Homes Bonus, £150k from the Lendal Bridge reserve and £150k Transport reserve to fund one-off investment, as outlined in paragraphs 86, 87 and 92.

Reason:              To ensure a legally balanced budget.

The Interim s151 Officer presented a report which set out the proposed financial strategy for 2020/21 to 2024/25, including the detailed revenue budget proposals for 2020/21.

The strategy would deliver a balanced budget for 2020/21, with revenue savings proposals totalling £4m.  Over £11m in additional revenue funding would be added to the budget to support the objectives in the new Council Plan.  The proposals were predicated on a basic council tax increase of 1.99% in 2020/21, plus an additional increase of 2% in line with the government’s social care precept.  The net revenue budget of £127.223m would be funded by council tax income of £93.808m and retained business rates of £33.415m. 

The report included statutory advice from the s151 Officer, at paragraphs 195-219.  A summary of the budget expenditure and savings proposals was provided in Annexes 1 and 2, with HRA growth and savings proposals in Annexes 5 and 6.  Results of consultation with residents and businesses were detailed in Annex 4; it was noted that responses had increased from 366 to 825 this year.

Members welcomed the report, in particular the additional investments highlighted in paragraph 2 and the increased participation in consultation. Having noted the comments made under Public Participation, it was

Recommended:  That Council approve the budget proposals set out in the report to Executive; in particular:

a)   The net revenue expenditure requirement of £127.223m

b)   A council tax requirement of £93.808m

c)   The revenue growth proposals outlined in the body of the report

d)   The 2020/21 revenue savings proposals outlined in Annex 2

e)   The fees and charges proposals outlined in Annex 3

f)     The consultation feedback set out in Annex 4

g)   The Housing Revenue Account (HRA) growth set out in Annex 5, and the HRA savings proposals set out in Annex 6

h)   The dedicated schools grant proposals outlined from paragraph 154

i)     The use of £420k New Homes Bonus, £150k from the Lendal Bridge reserve and £150k Transport reserve to fund one-off investment, as outlined in paragraphs 86, 87 and 92.

Reason:              To ensure a legally balanced budget.