Decision details

Revenue and Capital Budget Plan 2019/20 and approach to Financial Strategy 2020/21 to 2022/23

Decision Maker: Council, Cabinet, Overview and Scrutiny Committee (Regulatory, Compliance and Corporate Services)

Is Key decision?: No

Is subject to call in?: No

Purpose:

Report on Budget Plan to provide opportunity for O&S to make comments to Cabinet in advance of Cabinet recommending budget to Council

Decisions:

The Cabinet considered the joint report of the Chief Executive and Head of Corporate Resources which provided:

 

·       An assessment of the Council’s current financial position and approach to the 2019/20 Budget Plan and preparation for the new three-year budget period 2020/21 to 2022/23;

·       Progress that had been made during the last year within the Council’s Framework for Change programme;

·       An update on the Government’s announcement of resources that are available to the Council for 2019/20;

·       The Council’s current financial position and the assumptions built into the Medium Term Financial Plan;

·       The proposed Budget for 2019/20; and,

·       The proposed Capital Programme for 2019/20.

 

The report set out the financial strategy of the Council and the national and local financial context within which it is operating and indicated that the Council had a statutory requirement to remain financially sustainable and to balance its budget every year.

 

The Council’s Framework for Change Programme is a comprehensive and ambitious programme that seeks to support the delivery of the Council’s core purpose.  As would be expected with a programme of this size and complexity that spans a number of financial years, the detailed proposals have been and will continue to be the subject of change as they are developed and ultimately implemented.  Within this context, a detailed assessment of the previously approved plans for 2019/20 has been undertaken to confirm their deliverability.  In addition, a limited number of additional savings proposals have been identified to balance the budget and ensure long-term financial sustainability.

 

Decision Made: That

 

(1)      the pressure arising from the 2018/19 budget; the resulting impact on the 2019/20 budget and the requirement for additional proposals to be approved to support financial sustainability be noted;

 

(2)      the update of the Medium Term Financial Plan for the period 2019/20 to 2022/23 be noted;

 

(3)      the Council be recommended to approve the Budget Plan for 2019/20, including the Revenue Budget, the allocation of specific grants (section 10), the Fees and Charges (Appendix D) and the Capital Programme (Appendix E), and authorise officers to undertake the necessary actions to implement the recommendations; and

 

(4)      approval be given to the commencement of all appropriate activity as detailed including, for example consultation with employees and engagement with partners and contractual changes.

 

Reasons for Decision:

 

The recommendations in this report provide the basis on which the budget plan will be balanced for the financial year 2019/20 and will ensure that the Council’s statutory obligations are met. In addition, it begins the early planning for the next three-year financial strategy to give the Council sufficient time to identify specific proposal to deliver financial sustainability over that period.

 

Alternative Options Considered and Rejected:

 

The Council is legally required to set a balanced budget each year and the report had taken due consideration of all financial issues in its development. No additional options were available for inclusion.

Report author: Paul Reilly

Publication date: 19/02/2019

Date of decision: 14/02/2019

Decided at meeting: 14/02/2019 - Cabinet

Accompanying Documents: