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  ...  view the full decision text for item 72

The Executive Member for Finance and Chief Finance Officer submitted a report whichset out the Executive’s updated 3 year budget strategy proposals, detailed revenue budget proposals for 2017/18 and Medium Term Financial Strategy (MTFS) for the period 2018/19-2019/20.

            RESOLVED – That it be 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  ...  view the full minutes text for item 72