Agenda item

RESOLVED:

That Council agreed

1.

the Vision Statement, Priority Themes, Corporate Priorities and Outcomes for 2018/19.

2.

the proposed revisions to Service Revenue Budgets (Policy Changes).

3.

the sum of £80,065 be applied from Council Tax Collection Fund surpluses in reducing the Council Tax demand in 2018/19.

4.

the sum of £222,336 be applied to Business Rates Collection Fund deficits in 2018/19.

5.

that on 30th November 2017, the Cabinet calculated the Council Tax Base 2018/19 for the whole Council area as 21,438 [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 2018/19 is £3,681,977.

7.

the following amounts as calculated for the year 2018/19 in accordance with Sections 31 to 36 of the Act:

a. £53,144,554 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. £49,462,577 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. £3,681,977 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. £171.75 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 2018/19 of £171.75 (an increase of £5.00 (3.0%) on the 2017/18 level of £166.75) 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 £1,648.36 at Band D for 2018/19 be noted (£1,562.01 in 2017/18).

10.

the Council Tax levels at each band for 2018/19.

11.

the sum of £3,077,541 be transferred from General Fund Revenue Balances in 2018/19.

12.

the Summary General Fund Revenue Budget for 2018/19.

13.

the Provisional Budgets for 2018/19 to 2020/21, 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 £15,912,710 for 2018/19.

17.

rents for Council House Tenants in General Accommodation for 2018/19 be set at an average of £85.85 (2017/18 £86.72), over a 48 week rent year (including the required 1% reduction)

18.

rents for Council House Tenants due for 52 weeks in 2018/19 be collected over 48 weeks.

19.

the HRA deficit of £3,805,820 be financed through a transfer from Housing Revenue Account Balances in 2018/19.

20.

the proposed 3 year General Fund Capital Programme of £17.749m.

21.

the proposed 5 year Housing Capital Programme of £41.940m.

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 2018/19.

24.

the Prudential and Treasury Indicators and Limits for 2018/19 to 2019/20.

25.

adoption of the Treasury Management Practices contained within ANNEX 8.

26.

the detailed criteria of the Investment Strategy 2018/19 contained in the Treasury Management Strategy within ANNEX 4.

27.

the adoption of the revised CIPFA Prudential code for Capital Finance in Local Authorities (Prudential Code) and Treasury Management in the Public Services Code of Practice and Cross-Sectoral Guidance Notes (Treasury Management Code).

28.

endorse the action taken (under the MIFID II regulations) to opt up to professional status, so that we may continue to use the full range of investments.

29.

to endorse the approach taken in the selection of Property Funds and approve investment in those property funds, making use of both primary and secondary markets as appropriate, at the discretion of the Executive Director Corporate Services and Director of Finance.

and the additional recommendation of:

30.

the inclusion of an additional capital scheme budget of £6m in 2017/18, financed from the capital receipt from the sale of the former golf course, to take advantage of any potential advantageous opportunities to invest in property funds by 31^st March 2018.

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