Venue: Council Chamber, Trafford Town Hall, Talbot Road, Stretford M32 0TH
Contact: Jo Maloney Governance Officer
Note: Owing to Covid-19 precautions, attendance for those who are not Elected Members will be via advance registration only. Link to the meeting broadcast: https://www.youtube.com/channel/UCjwbIOW5x0NSe38sgFU8bKg
DECLARATIONS OF INTEREST
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 of the Executive Member for Finance and Governance and the Director of Finance and Systems.
The Executive Member for Finance and Governance and the Director of Finance and Systemssubmitted a report which set out the Executive’s updated 5 year budget strategy proposals including the draft revenue budget proposals for 2022/23 and the Medium Term Financial Strategy (MTFS) for the period 2023/27. In introducing the report the Executive Member drew attention to key features of the current draft budget and assumptions made in preparing it; noting that the October Spending Review and Local Government finance settlement towards the end of the year were expected to inform the development of the current proposals.
In discussion, queries were raised regarding a range of issues, including: the potential impact of the shortfall of income from the Investment Strategy, and measures to mitigate it; capacity issues in relation to the delivery of the Capital Programme; the potential impact of price increases on the Council’s finances; plans for the efficient and effective use of the Council’s built estate; the nature of comparator Local Authorities used in the report; demographic assumptions used, with particular reference to the demand on school places; and the potential financial impact of measures to redesign services.
It was noted that final decisions would be taken by the Executive after taking into consideration further proposals to address the gap, all relevant matters and feedback, at which time a proposed budget would be put to Council for approval in February 2022.
(1) That the 2022/27 proposed budget strategy, including the 2022/23 draft revenue budget and the 2023/27 MTFS, be approved. The income and savings proposals are included for the purposes of consultation only (where necessary) and these proposals will also be referred to the Scrutiny Committee for their consideration.
(2) That the proposal be noted to increase Council Tax by 3.99% in 2022/23 (comprising 2.0% adult social care precept and 1.99% general increase) and by similar levels for the remaining years of the MTFS 2023/27.
(3) That the remaining budget gap for the years 2022/23 to 2026/27 be noted.
(4) That it be noted that the draft proposals are subject to various consultation exercises, further analysis of reserves, savings and income including impact assessments, potential future movements in core funding and specific grants, revised costings and robustness assessments.