Budget Setting, Medium Term Plan (MTP) & Capital Strategy (Agenda Item 11)
- Meeting of Draft Estimates for 2016-17, Cabinet, Tuesday, 9th February, 2016 9.30 am (Item 24/15)
- View the background to item 24/15
Report of the Executive Member for Finance.
The Executive Member for Finance presented the Report.
The Executive Director Commercialisation informed Members that final confirmation of the comprehensive spending review was received on 8 February 2016. The Government had confirmed that additional Rural Service Delivery Grant would be received of £353k during 2016-17 and £175k for 2017-18 only; this would be allocated into the Investment fund. The New Homes Bonus had been confirmed at £19k higher than expected for 2016-17. Also confirmation had been received that new homes bonus retrospective reductions would not take palce for 16-17 and therefore this would be £412k higher. Both these amounts would be allocated to the Growth Fund. However, consultation was still underway regarding future New Homes Bonus and the position would be clarified for future years after consultation ends.
The Revenue Support Grant remained unchanged and therefore did not have financial impact. The Council were encouraged to consider the 4-year Fund Settlement and had until the 14 October to respond to the required elements, however further details were yet to be received.
There had not been any details given on changes to the NNDR, but this was likely to form part of a separate consultation.
In summary, all changes gave an improved position to the Growth and Investment fund, and did not change the Council Tax position.
The Executive Director Commercialisation asked for Cabinet to agree to allow changes to be made to Appendices A, B and E before the report be presented to Full Council.
Councillor Borrett said this was good news, and thanked the Officers for their work into the budget preparation.
Councillor Bambridge added his thanks especially in relation to the support given to war pensions.
It was RESOLVED that the S151 Officer updated Appendix A, B and E in light of the Government Settlement.
Reasons for Recommendation
To comply with budgetary and policy framework.
1. That recommendations 1 to 9 are made to Full Council for approval.
2. Make amendments before recommendations 1 to 9 are made to Full Council for approval.
3. Some but not all of recommendations 1 to 9 are made to Full Council for approval.
RESOLVED to Recommend to Full Council that:
1. The Breckland revenue estimates and parish special expenses for 2016-17 and outline position through to 2019-20 (as set out in appendix B and E) are approved
2. The capital estimates and associated funding for 2016-17 and outline position through to 2019-20 (as set out in appendix H) are approved
3. A 100% disregard of war pensions, war widow’s pensions, war widower’s pensions and armed forces compensation payments or any other successor scheme in the calculation of Housing Benefit be approved
4. The fees and charges shown at appendix D and D2, for adoption 1 April 2016 are approved
5. The Council Tax for a band A property in 2016-17 be set at £49.32, a £3.30 per annum increase on 2015-16 levels (band D £73.98, a £4.95 per annum increase on 2015-16 levels)
6. The financial medium term plan at appendix A is approved
7. The Council applies for the four year settlement from central Government
8. The capital strategy at appendix G is approved
9. The release of budget, up to £1m from the investment and growth funds be delegated to S151 Officer in consultation with the Portfolio Holder for Finance and to jointly approve on receipt of a fully worked and appropriate business case which generates an agreed ongoing return.
- Budget, Medium Term Plan and Capital Strategy, item 24/15 PDF 97 KB
- Appendix A - MTP and Budget, item 24/15 PDF 701 KB
- Appendix B - GFS, item 24/15 PDF 126 KB
- Appendix C - Tax Base, item 24/15 PDF 24 KB
- Appendix D - Fees & Charges, item 24/15 PDF 91 KB
- Appendix D2 - Planning Fees, item 24/15 PDF 42 KB
- Appendix E - Reserves, item 24/15 PDF 37 KB
- Appendix F - Sensitivities, item 24/15 PDF 102 KB
- Appendix G - capital strategy, item 24/15 PDF 231 KB