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Corporate Vision, Priorities Plan, Budget & Medium Term Financial Strategy 2022/23

 

 

Meeting: 22/02/2022 - Council (Item 50)

50 Corporate Vision, Priorities Plan, Budget & Medium Term Financial Strategy 2022/23 pdf icon PDF 1 MB

(Report of the Leader of the Council)

Additional documents:

Minutes:

Report of the Leader of the Council to approve the Vision Statement, Priority Themes, Corporate Priorities and Plans and their inclusion in the Corporate Plan (attached at Appendix A).

 

To approve the recommended package of budget proposals (attached at Appendix B) to enable the Council to agree the:

 

• General Fund (GF) Revenue Budget and Council Tax for 2022/23;

• Housing Revenue Account (HRA) Budget for 2022/23;

• 5 Year General Fund Capital Programme (2022/27);

• 5 Year HRA Capital Programme (2022/27);

• 3 Year General Fund Medium Term Financial Strategy (MTFS) (2022/25); and

• 5 Year HRA Medium Term Financial Strategy (MTFS) (2022/27).

 

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 (attached at Appendix N) and the requirement to prepare an annual Corporate Capital Strategy (attached at Appendix O).

 

RESOLVED:

That Council approved

 

1.

the Vision Statement, Priority Themes, Corporate Priorities and Outcomes for 2022/23 (Appendix A);

 

2.

the proposed revisions to Service Revenue Budgets (Policy Changes) (Appendix C);

 

3.

the sum of £74,584 be applied from Council Tax Collection Fund surpluses in reducing the Council Tax demand in 2022/23 (Appendix E)

 

4.

the sum of £1,200,215 be applied to Business Rates Collection Fund deficits in 2021/22, in part offset by a transfer from the Business Rates reserve of £939,376 (Appendix E);

 

5.

that on 2nd December 2021, the Cabinet calculated the Council Tax Base 2022/23 for the whole Council area as 22,968 [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 2022/23 is £4,407,330 (Appendix E);

 

7.

the following amounts as calculated for the year 2022/23 in accordance with Sections 31 to 36 of the Act:

a. £48,399,016 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. £43,991,686 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. £4,407,330 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. £191.89 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 2022/23 of £191.89 (an increase of £5 (2.68%) on the 2021/22 level of £186.89) at Band D;

 

9.

an aggregate Council Tax (comprising the  ...  view the full minutes text for item 50

Meeting: 17/02/2022 - Cabinet (Item 115)

115 Corporate Vision, Priorities Plan, Budget & Medium Term Financial Strategy 2022/23 pdf icon PDF 1 MB

(Report of the Leader of the Council)

Additional documents:

Minutes:

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

The recommended to approve the recommended package of budget proposals to enable the Council to agree the:

 

• General Fund (GF) Revenue Budget and Council Tax for 2022/23;

• Housing Revenue Account (HRA) Budget for 2022/23;

• 5 Year General Fund Capital Programme (2022/27);

• 5 Year HRA Capital Programme (2022/27);

• 3 Year General Fund Medium Term Financial Strategy (MTFS) (2022/25); and

• 5 Year HRA Medium Term Financial Strategy (MTFS) (2022/27).

 

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 and the requirement to prepare an annual Corporate Capital Strategy.

 

REOLVED:

That Cabinet endorsed the following recommendations to proceed to Council for approval:

 

1.     

the Vision Statement, Priority Themes, Corporate Priorities and Outcomes for 2022/23

 

2.     

the proposed revisions to Service Revenue Budgets (Policy Changes) (Appendix C);

 

3.     

the sum of £74,584 be applied from Council Tax Collection Fund surpluses in reducing the Council Tax demand in 2022/23

 

4.     

the sum of £1,200,215 be applied to Business Rates Collection Fund deficits in 2021/22, in part offset by a transfer from the Business Rates reserve of £939,376 (Appendix E);

 

5.     

that on 2nd December 2021, the Cabinet calculated the Council Tax Base 2022/23 for the whole Council area as 22,968 [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 2022/23 is £4,407,330 (Appendix E);

 

7.     

the following amounts as calculated for the year 2022/23 in accordance with Sections 31 to 36 of the Act:

a. £48,399,016 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. £43,991,686 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. £4,407,330 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. £191.89 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 2022/23 of £191.89 (an increase of £5 (2.68%) on the 2021/22 level of £186.89) at Band D;

 

9.     

an aggregate Council Tax (comprising the respective demands of the Borough Council, Staffordshire County Council, Office of the  ...  view the full minutes text for item 115