Agenda item

RESOLVED:

That Council approved:

1

The Single Corporate Vision and Strategic Priorities for 2014/15;

2

The proposed revisions to Service Revenue Budgets;

3

The sum of £53,509 be applied from Collection Fund surpluses in reducing the Council tax demand in 2014/15;

4

It be noted that on 28 November 2013, the Council calculated the Council Tax Base 2014/15 for the whole Council area as 20,389 [Item T in the formula in Section 31B(3) of the Local Government Finance Act 1992, as amended (the “Act”)];

5

Calculate that the Council Tax requirement for the Council’s own purposes for 2014/15 is £3,170,490;

6

The following amounts as calculated for the year 2014/15 in accordance with Section 31 to 36 of the Act:

1. £55,380,738 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);
2. £52,210,248 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);
3. £3,170,490 being the amount by which the aggregate at 6(a) above exceeds the aggregate at 6(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);
4. £155.50 being the amount at 6(c) above (Item R), all divided by Item T (at 4 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;

7

The Council Tax level for Tamworth Borough Council for 2013/14 of £155.50 (an increase of £3.00 (1.97%) on the 2013/14 level of £152.50) at Band D;

8

An aggregate Council Tax (comprising the respective demands of Tamworth Borough Council, Staffordshire County Council, Office of the Police and Crime Commissioner Staffordshire and Stoke-on-Trent and Staffordshire Fire and Rescue Authority) of £1,428.00 at Band D for 2014/15 be noted;

9

The Council Tax levels at each band for 2014/15;

10

The sum of £1,195,653 be transferred from General Fund Revenue Balances in 2014/15;

11

The Summary General Fund Revenue Budget for 2014/15;

12

The Provisional Budgets for 2015/16 to 2016/17 as the basis for future planning;

13

The minimum level for balances of £500,000 to be held for each of the General Fund, Housing Revenue Account, General Capital Fund and Housing Capital Fund;

14

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;

15

The creation of a new Transformation Reserve (revenue) of £300k (up to a maximum of £500k) to support the ‘Planning for a Sustainable Future’ strategy, financed from the current earmarked capital reserve;

16

The proposed HRA Expenditure level of £14,429,640 for 2014/15;

17

Rents for Council House Tenants in 2014/15 be increased by an average of £3.78 per week (4.6%) to £86.60, in line with the Government’s Rent Restructuring rules;

18

Rents for Council House Tenants due for 52 weeks in 2014/15 be collected over 48 weeks;

19

The HRA deficit of £984,240 be financed through a transfer from Housing Revenue Account Balances in 2014/15;

20

The proposed 3 year General Fund Capital Programme of £4m, as detailed in Appendix I to the report;

21

The proposed 5 year Housing Capital Programme of £52.5m, 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 2014/15 (as detailed in Appendix N);

24

The Prudential and Treasury Indicators and Limits for 2014/15 to 2016/17 contained within Appendix N;

25

The adoption of the Treasury Management Practices contained within Annex 7, and;

26

The detailed criteria of the Investment Strategy 2014/15 contained in the Treasury Management Strategy within Annex 3.

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