Issue - meetings

Report of Chief Finance Officer

Lead Cabinet member: Councillor Stephen Holt

(Key decision):

(1) To agree the draft budget proposals for consultation.

(2) To agree that subject to there being no material change in the government settlement that Cabinet is minded to propose a council tax rise of 2.99% for 2019/20 to make a Band D charge £246.84, in line with the current cap.

(3) To note the updated medium term financial strategy.

The Cabinet considered the report of the Chief Finance Officer (CFO), summarising the main elements of the emerging 2019/20 revenue budget that had arisen from the corporate and service financial planning process. The CFO added that faced with the lasting effects of the recent economic climate and subsequent reduction in core funding by the Government, the Council had identified the potential for further efficiencies, innovative working and sought commercial opportunities.

The report proposed a 2.99% increase in the Council tax to make a Band D charge of £264.84.

The Cabinet expressed thanks to officers for their forward thinking as the Council continued its journey towards self-sufficiency, identifying sources of income and reducing the reliance on diminishing central government funding.

Resolved (Key decision):

(1) To agree the draft budget proposals for consultation.

(2) To agree that subject to there being no material change in the government settlement that Cabinet is minded to propose a council tax rise of 2.99% for 2019/20 to make a Band D charge £246.84, in line with the current cap.

(3) To note the updated medium term financial strategy.

Reason for decision:

The Council is required by legislation to set a balanced budget. The report forms part of the process that will culminate in the Council Tax setting by the Council in February.