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Decision details

Corporate Vision, Priorities Plan, Budget & Medium Term Financial Strategy 2019/20

Decision Maker: Council

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

For Members to approve the Vision Statement & Priority Themes, Corporate Priorities for 2019/20 and the recommended package of budget proposals to enable the Council to agree the:
General Fund Revenue budget and Council Tax for 2019/20;
Housing Revenue Account (HRA) budget for 2019/20;
the Capital Programme;
the Medium Term Financial Strategy (MTFS).
and
To comply with the requirement of the Council’s Treasury Management Policy in reporting to Council the proposed Treasury Management Strategy for the forthcoming year and the Local Government Act 2003 with the reporting of the Prudential Indicators.

Decisions:

The Leader of the Council proposed the Vision Statement, Priority Themes, Corporate Priorities and Outcomes and their inclusion in the Corporate Plan and Support Service Plan.

 

The recommendation package of budget proposals to enable the Council to agree the:

·General Fund (GF) Revenue Budget and Council Tax for 2019/20;

 

·Housing Revenue Account (HRA) Budget for 2019/20;

 

·5 Year General Fund Capital Programme (2019/24);

 

·5 Year HRA Capital Programme (2019/24);

 

·3 Year General Fund Medium Term Financial Strategy (MTFS) (2019/22); and

 

·5 Year HRA Medium Term Financial Strategy (MTFS) (2019/24).

 

 

To comply with the requirement of the Council’s Treasury Management Policy in reporting to Council the proposed strategy for the forthcoming year and the Local Government Act 2003 with the reporting of the Prudential Indicators

 

 

RESOLVED

That Council approved;

 

1

The Vision Statement, Priority Themes, Corporate

Priorities and Outcomes for 2019/20

 

2

The proposed revisions to Service Revenue Budgets (Policy Changes)

 

3

The sum of £62,517 be applied from Council Tax Collection Fund surpluses in reducing the Council Tax demand in 2019/20

 

4

The sum of £752,887 be applied from Business Rates Collection Fund surpluses in 2019/20

 

5

That on 29th November 2018, the Cabinet calculated the Council Tax Base 2019/20 for the whole Council area as 21,761 [Item T in the formula in Section 31B(3) of the Local Government Finance Act 1992, as amended (the "Act")]

6

That the Council Tax requirement for the Council’s own purposes for 2019/20 is £3,849,303

7

The following amounts as calculated for the year 2019/20 in accordance with Sections 31 to 36 of the Act:

a.    £49,832,645 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(2) of the Act (Outgoings excluding internal GF Recharges);

b.    £45,983,342 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(3) of the Act (Income excluding internal GF Recharges);

c.    £3,849,303 being the amount by which the aggregate at 7(a) above exceeds the aggregate at 7(b) above, calculated by the Council in accordance with Section 31A(4) of the Act as its Council Tax requirement for the year (Item R in the formula in Section 31A(4) of the Act);

d.    £176.89 being the amount at 7(c) above (Item R), all divided by Item T (at 5 above), calculated by the Council, in accordance with Section 31B(1) of the Act, as the basic amount of its Council Tax for the year;

 

8

The Council Tax level for the Borough Council for 2019/20 of £176.89 (an increase of £5.14 (2.99%) on the 2018/19 level of £171.75) at Band D;

9

An aggregate Council Tax (comprising the respective demands of the Borough Council, Staffordshire County Council, Office of the Police and Crime Commissioner Staffordshire and Stoke-on-Trent and Staffordshire Fire and Rescue Authority) of £1,715.41 at Band D for 2019/20 be noted (£1,648.36 in 2018/19)

10

The Council Tax levels at each band for 2019/20

11

The sum of £1,408,174 be transferred from General Fund Revenue Balances in 2019/20

12

The Summary General Fund Revenue Budget for 2019/20

13

The Provisional Budgets for 2020/21 to 2021/22, summarised at Appendix G, as the basis for future planning;

14

Minimum level for balances of £500k to be held for each of the General Fund, Housing Revenue Account, General Capital Fund and Housing Capital Fund;

15

Cabinet be authorised to release funding from the General Contingency budget and that the release of funding for Specific Contingency items be delegated to the Corporate Management Team in consultation with the Leader of the Council;

16

Proposed HRA Expenditure level of £13,164,850 for 2019/20

17

Rents for Council House Tenants in General Accommodation for 2019/20 be set at an average of £85.52 (2018/19 £86.50), over a 49 week rent year (including the required 1% reduction);

18

Rents for Council House Tenants due for 53 weeks in 2019/20 be collected over 49 weeks;

19

The proposed 5 year General Fund Capital Programme of £5.297m, as detailed in Appendix I to the report;

20

The HRA deficit of £115,050 be financed through a transfer from Housing Revenue Account Balances in 2019/20

21

The proposed 5 year Housing Capital Programme of £44.496m, as detailed in Appendix J to the report;

22

To delegate authority to Cabinet to approve/add new capital schemes to the capital programme where grant funding is received or there is no net additional cost to the Council;

23

The Treasury Management Strategy Statement, the Treasury Management Policy Statement, Minimum Revenue Provision Strategy and Annual Investment Statement 2019/20

24

The Prudential and Treasury Indicators and Limits for 2019/20 to 2021/22

25

Adoption of the Treasury Management Practices contained within ANNEX 8;

26

The detailed criteria of the Investment Strategy 2019/20 contained in the Treasury Management Strategy within ANNEX 4; and

27

The Corporate Capital Strategy and associated Action Plan

 

 

 

(Moved by Councillor D Cook and seconded by Councillor R Pritchard)

 

Report author: Stefan Garner

Publication date: 04/07/2019

Date of decision: 26/02/2019

Decided at meeting: 26/02/2019 - Council

Accompanying Documents: