Issue - meetings

Report of Chief Finance Officer

Lead Cabinet member: Councillor Bill Giles

(Key decision):

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

(2) To agree the approach to dealing with changes in the expected resources available for the 2019/20 budget as detailed in 3.3 of the report.

(3) 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 1.99% for 2019/20 to make a Band D charge £187.08 for General Expenses, in line with the current cap.

(4) To agree the strategy to close the gap as shown in 3.2 of the report.

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

The Cabinet considered the report of the Chief Finance Officer, summarising the main elements of the emerging 2019/20 revenue budget that had arisen from the corporate and service financial planning process to date.

A final budget for 2019/20 and revised capital programme would be submitted to Council on 25 February 2019.

Visiting member, Councillor Gardiner commented on the projected reduction in general reserves going forward, detailed in the five year medium term financial plan. The Chief Finance Officer commented that the projections were indicative if the council did not take action and work beyond 2019/20 for any additional income or savings had not yet but would be undertaken.

Resolved (Key decision):

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

(2) To agree the approach to dealing with changes in the expected resources available for the 2019/20 budget as detailed in 3.3 of the report.

(3) 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 1.99% for 2019/20 to make a Band D charge £187.08 for General Expenses, in line with the current cap.

(4) To agree the strategy to close the gap as shown in 3.2 of the report.

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

Reason for decisions:

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.