It is recommended that Council approve:

a)    The 2017/18 net Revenue Budget of £160.83 million.

b)    The 2018/19 to 2019/20 Medium Term Financial Strategy (MTFS) including the income and savings proposals.

c)    The calculation of the Council Tax Requirement as summarised in Section 9.1 of the report and set out in the Formal Council Tax Resolution (Green Sheets circulated at the meeting and to be circulated at Council);

d)    To increase Council Tax by 4.99%:

o   1.99% general increase in the ‘relevant basic amount’ in each of the three years 2017/18 to 2019/20, and

o   3% for the ‘Adult Social Care’ precept in each of the two years 2017/18 and 2018/19.

e)    The Fees and Charges for 2017/18, as set out in the Fees & Charges booklet (available on the Council’s website).

f)     Approval is delegated jointly to each Corporate Director with the Chief Finance Officer to amend fees and charges during 2017/18 in the event of any change in VAT rate, as appropriate.

g)    That the minimum level of General Reserve for 2017/18 be retained at £6.0 million, as in 2016/17 (Section 7.2).

h)    The overall Capital Investment Programme level of £109.16 million be approved (as detailed in the Capital Programme & Prudential Indicators report elsewhere on the agenda) of which £65.73 million relates to 2017/18.

i)      The Prudential Borrowing Indicators as set out in Appendix 3, of both the Treasury Management Strategy and Capital Programme & Prudential Indicators reports (elsewhere on the agenda).

j)      The distribution of Dedicated Schools Grant as recommended by the School Funding Forum and Executive as summarised in Section 8 and detailed in Annex H to the report.

k)    The publication of the Council’s updated Efficiency Plan in Annex I to the report.

l)      Due to the late publication of the Final 2017/18 Local Government Finance Settlement, the Council to delegate to the Chief Finance Officer the power to vary the level of Budget Support Reserve needed to balance the 2017/18 revenue budget in the event of any change at final settlement (as long as this does not impact on the level of general risk reserve retained).

and in approving the above, has taken into consideration :

a)    The objective assessment by the Chief Finance Officer of the robustness of budget estimates and adequacy of the financial reserves (Section 7.3 and Annex G of the report).

b)    The Executive’s response to the Scrutiny Committee’s recommendations to the budget proposals as included in a separate report on the agenda.

c)    The ‘Budget 2017/18 - consultation Process and Feedback’ report referred to Executive Meeting.

d)    The Equality Impact Assessments in relation to the budget proposals and the Public Sector Equality duty.

In addition, the Council notes the following :

a)    The approval on 18 January 2017 under delegated powers by the Chief Finance Officer of the Council Tax Base for 2017/18 at 74,883 Band D equivalents.

b)    Along with the calculation of the estimated Council Tax surplus, sufficient to release £(1.3 million) to support the Council’s 2017/18 revenue budget and a distribution of £(181)k and £(68)k representing the respective shares of the GM Police & Crime Commissioner and GM Fire and Rescue Authority. 

c)    The base budget assumptions as set out in the Medium Term Financial Strategy (MTFS) as detailed in Annex A to the report.

d)    The budget gap for the two years 2018/19 £13.19 million and 2019/20 of £6.05 million.

e)    That the Capital Investment Programme for 2017/18, 2018/19 and 2019/20 is to be set at an indicative £65.73 million, £25.51 million and £17.92 million respectively.

f)     The use of capital receipts to fund a number of transformational savings and income generating projects as detailed in Annex I to the report.

g)    That the Council Tax figures included in the report for the GM Fire & Rescue and Police Authority are the recommended provisional amounts pending their formal approval.

h)    The Treasury Management Strategy 2017/20 detailed elsewhere on the agenda.

i)      The final decision with regard to school crossing patrols will not be taken until the results of the second phase of consultation are concluded and a report to the Executive will then be presented at the appropriate time.

j)      A ‘Budget 2017/18 - consultation Process and Feedback’ report on the outcomes of the public consultation is included on the Executive Meeting budget agenda.