Issue - meetings

Key Decision

Portfolio Holder

Councillor David Martin – Portfolio Holder for Finance, Revenues and Benefits

RESOLVED

that Council be recommended to approve the following:

a)    a £5 annual increase in the level of the District’s own Council Tax for 2022/23, setting the Band D equivalent at £195.46;

b)    the proposed 2022/23 Revenue (General Fund) and HRA Budgets as set out in the report (Sections 3 and 4);

c)    the proposed Capital Programme and associated borrowing for 2021/22 to 2025/26 as set out in the report (Section 5);

d)    the 2021/22 Revised HRA and Capital Budgets as set out in the report (Sections 4 and 5);

e)    the precept figures from Nottinghamshire County Council, Nottinghamshire Fire and Rescue Authority, Police and Crime Commissioner and the two Parish Council’s within the District to be incorporated, when known, into the Council Tax recommendation to Council on 3rd March 2022;

f)      to note the estimated financial challenge in the Medium-Term Financial Strategy (MTFS) for 2023/2024 and 2024/25 and the planned approach to address the challenge (Section 6 and Appendix 2);

g)    the proposed use of reserves as set out in this report. (Table 5 (General Fund) and Table 9 (HRA)), and the creation of an IT Reserve (Section 3.6);

h)    to note and accept the comments and advice of the Corporate Finance Manager (Section 151 Officer), provided in compliance with Section 25 of the Local Government Act 2003, as to the robustness of the estimates included in the 2022/23 Budget and the adequacy of the reserves for which this budget provides (Section 7);

i)      to note that the proposed 2022/23 budgets reflect the agreed changes to Fees and Charges approved by Cabinet on 25th January 2022;

j)      to note that a potential call of up to £250k from the Corporate Transformation Reserve may be required to further progress the Digital Service Transformation (DST) programme at a quicker pace than had previously been planned (Section 3.7);

k)    to note the Local Government Association’s Finance Health Check report (Appendix 3);

l)      to accept that the report and the Capital Strategy and Treasury Management Reports be consolidated into a single report for Council on 3^rd March to recognise that all three reports are intrinsically linked and all form part of the annual budget setting and governance arrangements;

m)  to add to the Capital Programme the recently notified successful bid for funding of up to £1.203m from the BEIS Social Housing Decarbonisation Fund.

Cabinet was presented with the Council’s Annual Budget, the Council Tax

proposals for 2022/23 and a Medium Term Financial Strategy (MTFS) update.

Members considered the alternative option of declining to apply an increase to Council Tax for the 2022/23 financial year, but this was not recommended due to significant inflation increases to the Council’s energy, supplies and services budgets in recent months and the significant estimated funding gap for

2023/24.

RESOLVED

that Council be recommended to approve the following:

a)    a £5 annual increase in the level of the District’s own Council Tax for 2022/23, setting the Band D equivalent at £195.46;

b)    the proposed 2022/23 Revenue (General Fund) and HRA Budgets as set out in the report (Sections 3 and 4);

c)    the proposed Capital Programme and associated borrowing for 2021/22 to 2025/26 as set out in the report (Section 5);

d)    the 2021/22 Revised HRA and Capital Budgets as set out in the report (Sections 4 and 5);

e)    the precept figures from Nottinghamshire County Council, Nottinghamshire Fire and Rescue Authority, Police and Crime Commissioner and the two Parish Council’s within the District to be incorporated, when known, into the Council Tax recommendation to Council on 3rd March 2022;

f)     to note the estimated financial challenge in the Medium-Term Financial Strategy (MTFS) for 2023/2024 and 2024/25 and the planned approach to address the challenge (Section 6 and Appendix 2);

g)    the proposed use of reserves as set out in this report. (Table 5 (General Fund) and Table 9 (HRA)), and the creation of an IT Reserve (Section 3.6);

h)    to note and accept the comments and advice of the Corporate Finance Manager (Section 151 Officer), provided in compliance with Section 25 of the Local Government Act 2003, as to the robustness of the estimates included in the 2022/23 Budget and the adequacy of the reserves for which this budget provides (Section 7);

i)     to note that the proposed 2022/23 budgets reflect the agreed changes to Fees and Charges approved by Cabinet on 25th January 2022;

j)     to note that a potential call of up to £250k from the Corporate Transformation Reserve may be required to further progress the Digital Service Transformation (DST) programme at a quicker pace than had previously been planned (Section 3.7);

k)    to note the Local Government Association’s Finance Health Check report (Appendix 3);

l)     to accept that the report and the Capital Strategy and Treasury Management Reports be consolidated into a single report for Council on 3^rd March 2022 to recognise that all three reports are intrinsically linked and all form part of the annual budget setting and governance arrangements;

m)  to add to the Capital Programme the recently notified successful bid for funding of up to £1.203m from the BEIS Social Housing Decarbonisation Fund.

Reason:

In accordance with the Local Government Finance Act 1992 the Council must set its annual budget by 10th March in the preceding financial year.

The meeting was adjourned at 11.40am and reconvened at 11.50am.