Agenda item

Key Decision

Portfolio Holder

Councillor Rachel Madden – Portfolio Holder for Finance

RESOLVED

that Council be recommended to approve the following:

a)    a freeze (no increase) in the level of the District’s own Council Tax for 2021/22, setting the Band D equivalent at £190.46, the same as in 2020/21;

b)    the proposed 2021/22 Revenue (General Fund) and HRA Budgets as set out in the report (Sections 3 and 4);

c)    the proposed Capital Programme and associated borrowing 2020/21 to 2024/25 as set out in the report (Section 5 and Appendix 1);

d)    the 2020/21 Revised HRA and Capital Budgets as set out in this 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 be incorporated, when known, into the Council Tax recommendation to Council on 4 March 2021;

f)      to note the estimated financial challenge in the Medium Term Financial Strategy (MTFS) for 2022/2023 to 2025/26 and the planned approach to address the challenge (Section 6);

g)    to bring a detailed, refreshed Medium Term Financial Strategy back to Cabinet after the 2020/21 Accounts have been closed and audited and the 3 year Spending Round figures are confirmed;

h)    the proposed use of reserves as set out in the report (Table 5 (General Fund) and Table 9 (HRA)), and the proposed changes to reserves as set out in Section 3.8;

i)      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 2021/22 Budget and the adequacy of the reserves for which this budget provides. (Section 7);

j)      to note that the proposed 2021/22 budgets reflect the agreed changes to Fees and Charges approved by Cabinet on 26 January 2021;

k)    the use of in-year Capital Receipts up to 2021/22 to maximise capitalisation opportunities arising from service transformation to deliver efficiencies and improved services to residents and clients, and thereby minimise the impact of costs on the revenue budget as included in the Flexible Use of Capital Receipts Strategy 2018/19 approved by Council on 11 October 2018.

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

proposals for 2021/22 and a Medium Term Financial Strategy (MTFS) update.

Members considered the alternative option of applying an inflationary increase to mitigate against the estimated funding gap in future years, but recognised the severe adverse impact the Coronavirus pandemic has had on many residents and the need and desire of the Council to be as supportive to residents as possible.

RESOLVED

that Council be recommended to approve the following:

a)    a freeze (no increase) in the level of the District’s own Council Tax for 2021/22, setting the Band D equivalent at £190.46, the same as in 2020/21;

b)    the proposed 2021/22 Revenue (General Fund) and HRA Budgets as set out in the report (Sections 3 and 4);

c)    the proposed Capital Programme and associated borrowing 2020/21 to 2024/25 as set out in the report (Section 5 and Appendix 1);

d)    the 2020/21 Revised HRA and Capital Budgets as set out in this 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 be incorporated, when known, into the Council Tax recommendation to Council on 4 March 2021;

f)      to note the estimated financial challenge in the Medium Term Financial Strategy (MTFS) for 2022/2023 to 2025/26 and the planned approach to address the challenge (Section 6);

g)    to bring a detailed, refreshed Medium Term Financial Strategy back to Cabinet after the 2020/21 Accounts have been closed and audited and the 3 year Spending Round figures are confirmed;

h)    the proposed use of reserves as set out in the report (Table 5 (General Fund) and Table 9 (HRA)), and the proposed changes to reserves as set out in Section 3.8;

i)      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 2021/22 Budget and the adequacy of the reserves for which this budget provides. (Section 7);

j)      to note that the proposed 2021/22 budgets reflect the agreed changes to Fees and Charges approved by Cabinet on 26 January 2021;

k)    the use of in-year Capital Receipts up to 2021/22 to maximise capitalisation opportunities arising from service transformation to deliver efficiencies and improved services to residents and clients, and thereby minimise the impact of costs on the revenue budget as included in the Flexible Use of Capital Receipts Strategy 2018/19 approved by Council on 11 October 2018.

Reason:

To recommend to Council approval of a freeze (no increase) in the District Council’s Council Tax for a Band D equivalent property, approval of the HRA and Capital Budget Revisions for 2020/21 and approval of the proposed 2021/22 Revenue and HRA Budgets and the Capital Programme 2020/21 to 2024/25. In accordance with the Local Government Finance Act 1992 the Council must set its annual budget by 10th March in the preceding financial year.