Members to give notice of any interest and the nature of that interest relating to any item on the agenda in accordance with the adopted Code of Conduct.

No declarations were made by Executive Members.

To consider a report, and relevant supporting papers, from the Executive Member for Finance and Director of Finance, for recommendation to Council.

NOTE: The reports on Revenue Budget, Fees and Charges, Capital Programme and Treasury Management, once approved by Executive, will be referred to the subsequent Budget Council Meeting for agreement; Members are asked to ensure they bring them to both meetings.

(1)        That it be recommended that Council approve:

·                     The net Revenue Budget for 2014/15 at £154.552m, a decrease of £(4.451)m, or (2.8)%, when compared to the 2013/14 base budget of £159.003m;

·                     The calculation of the Council Tax Requirement as summarised in Section 8 of the report and set out in the Formal Council Tax Resolution (“Green Sheets” to be circulated at the following Council Meeting);

·                     That there is no increase in the proposed Council Tax level for Trafford related services in 2014/15 (valuation bands are detailed at Annex F to the report);

·                     The Fees and Charges for 2014/15, as set out in the booklet available on the Council’s web site, be approved, including specifically:

Ø  Notice is given of the intent to increase allotment fees by 50p per week for a standard and additional concessionary plot, and a concessionary charge for a first plot to be increased by 25p per week, in 2015/16.

Ø  Approval is given to Corporate Directors and the Chief Finance Officer with the joint delegation to amend fees and charges during 2014/15 in the event of any change in the rate of VAT, as appropriate

·                     That the minimum level of General Reserve for 2014/15 be set at £6.0m, the same as in 2013/14 (Annex N to the report);

·                     That the overall Capital Investment Programme level of £83.2m be approved (as detailed in the Capital Investment Programme 2014/17 report at item 3(b)i of the agenda) of which £40.9m relates to 14/15 (NOTE: The “Green Sheets” tabled at the following Council Meeting contained a typographical error, and have thus been subject to subsequent correction);

·                     The Prudential Borrowing Indicators as set out in Appendix 1, page 10, of the Treasury Management Strategy report (at item 3(b)ii of the agenda).

·                     The additional borrowing as detailed in paragraphs 17 of the Capital Investment Programme and Prudential Indicators 2014/17 report.

and in approving the above, has taken into consideration:

·                     The objective assessment by the Director of Finance of the robustness of budget estimates and adequacy of the General Reserve (Annex N to the report).

·                     The Executive’s response to the Scrutiny Committee’s recommendations to the budget proposals, which can be found at Item 3(a)iv on the agenda.

·                     The detailed report on the outcomes of the Staff and Trade Union Consultation which can be found on the agenda at Items 3(a)ii and 3(a)iii and also presented to the Employment Committee on 19 February 2014.

(2)      That, in addition, the Council be asked to note the following:

·                     The approval on 23 January 2014 under delegated powers by the Director of Finance of the Council Tax Base for 2014/2015 at 71,940 Band D equivalents. Along with the calculation of the estimated Council Tax surplus, sufficient to release £(300)k to support the Council’s 2014/2015 revenue budget and a distribution of £(40.5)k and £(15.6)k representing the respective shares of the GM Police & Crime Commissioner and GM Fire and Rescue Authority. 

·                     That the Capital Investment Programme for 2015/2016 and 2016/2017 to be set at a  ...  view the full decision text for item 87.

The Deputy Leader and Executive Member for Finance and Director of Finance submitted a report proposing for the Executive’s agreement recommendations to Council in respect of its Revenue Budget for 2014/15, Council Tax levels, Fees and Charges and General Reserve; and in respect of the Capital Programme for 2014-17, Prudential Borrowing Indicators and Treasury Management Strategy. It was also proposed that Council be requested to note a range of factors, as set out in the resolutions below, which had been taken into account in developing the current proposals. In discussion it was requested that the Executive’s thanks be accorded to officers who had assisted in the preparation of the Budget report.

            RESOLVED:

(1)        That it be recommended that Council approve:

·                     The net Revenue Budget for 2014/15 at £154.552m, a decrease of £(4.451)m, or (2.8)%, when compared to the 2013/14 base budget of £159.003m;

·                     The calculation of the Council Tax Requirement as summarised in Section 8 of the report and set out in the Formal Council Tax Resolution (“Green Sheets” to be circulated at the following Council Meeting;

·                     That there is no increase in the proposed Council Tax level for Trafford related services in 2014/15 (valuation bands are detailed at Annex F to the report);

·                     The Fees and Charges for 2014/15, as set out in the booklet available on the Council’s web site, be approved, including specifically:

Ø  Notice is given of the intent to increase allotment fees by 50p per week for a standard and additional concessionary plot, and a concessionary charge for a first plot to be increased by 25p per week, in 2015/16.

Ø  Approval is given to Corporate Directors and the Chief Finance Officer with the joint delegation to amend fees and charges during 2014/15 in the event of any change in the rate of VAT, as appropriate

·                     That the minimum level of General Reserve for 2014/15 be set at £6.0m, the same as in 2013/14 (Annex N to the report);

·                     That the overall Capital Investment Programme level of £83.2m be approved (as detailed in the Capital Investment Programme 2014/17 report at item 3(b)i of the agenda) of which £40.9m relates to 14/15 (NOTE: The “Green Sheets” tabled at the following Council Meeting contained a typographical error, and have thus been subject to subsequent correction);

·                     The Prudential Borrowing Indicators as set out in Appendix 1, page 10, of the Treasury Management Strategy report (at item 3(b)ii of the agenda).

·                     The additional borrowing as detailed in paragraphs 17 of the Capital Investment Programme and Prudential Indicators 2014/17 report.

and in approving the above, has taken into consideration:

·                     The objective assessment by the Director of Finance of the robustness of budget estimates and adequacy of the General Reserve (Annex N to the report).

·                     The Executive’s response to the Scrutiny Committee’s recommendations to the budget proposals, which can be found at Item 3(a)iv on the agenda.

·                     The detailed report on the outcomes of the Staff and Trade Union Consultation which can be found on the agenda at Items 3(a)ii  ...  view the full minutes text for item 87.