It is recommended that Council approve:

·         The net Revenue Budget for 2015/16 at £148.914m, a decrease of £(5.638)m, or (3.6)%, when compared to the 2014/15 base budget of £154.552m;

·         The calculation of the Council Tax Requirement as summarised in Section 10 and set out in the Formal Council Tax Resolution (Green Sheets to be circulated at Council);

·         That there is no increase in the proposed Council Tax level for Trafford related services in 2015/16 (valuation bands are detailed at Annex E;

·         The Fees and Charges for 2015/16, as set out in the booklet available on the Council’s website (subject to the amendment set out in the supplementary paper presented to the meeting) :-

Ø  Approval is given to Corporate Directors and the Director of Finance with the joint delegation to amend fees and charges during 2015/16 in the event of any change in the rate of VAT, as appropriate

Ø  Approval is given to the Corporate Director, Economic Growth, Environment and Infrastructure, and the Director of Finance with joint delegation to amend fees and charges in line with commercial negotiations with the Joint Venture Partner(s) (if approved).

·         That the minimum level of General Reserve for 2015/16 be set at £6.0m, the same as in 2014/15 (Section 5 of the report);

·         The overall Capital Investment Programme level of £79.7m be approved (as detailed in the Capital Investment Programme 2015/18 report – Item 3d attached to the agenda) of which £41.8m relates to 2015/16.

·         The Prudential Borrowing Indicators as set out in Appendix 3, page 14, of the Treasury Management Strategy – Item 3e attached to the agenda.

·         The distribution of Dedicated Schools Grant as recommended by the School Funding Forum and Executive as summarised in Section 7 and detailed in Annex F to the 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 (Section 5 and Annex M).

·         The Executive’s response to the Scrutiny Committee’s recommendations to the budget proposals, which can be found elsewhere on the agenda – Item 3c.

·         The detailed report on the outcomes of the Staff and Trade Union Consultation which can be found on the agenda for the Executive on 26 January 2015.

·         The Equality Impact Assessments in relation to the budget proposals and the Public Sector Equality duty

And that in addition, the Council notes the following :

·         The approval on 30 January 2015 under delegated powers by the Director of Finance of the Council Tax Base for 2015/16 at 72,669 Band D equivalents. Along with the calculation of the estimated Council Tax surplus, sufficient to release £(300)k to support the Council’s 2015/2016 revenue budget and a distribution of £(41.3)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 2016/17 and 2017/18 is to be set at an indicative £23.5m and £14.4m respectively.

·         That the Council Tax figures included in the report for the GM Fire & Rescue Authority are the recommended provisional amounts pending their formal approval on 12^th February 2015.

·         The Treasury Management Strategy 2015/18 detailed elsewhere on the agenda (Item 3e).

·         The writing down of the Learning Disability pool deficit of £3.0m

·         The base budget assumptions as set out in the Medium Term Financial Outlook as detailed in Annex A to the report.

·         That final decisions with regard to some services will not be taken until March 2015. As a result, the allocation of resources set out on pages 65-69 may vary including the use of reserves. All reports will be presented at the appropriate time.

The Executive Member for Finance and Director of Finance submitted a report setting out recommendations to Council in respect of the proposed Revenue Budget for 2015/16 and a range of associated financial proposals (including Capital Investment Programme and Treasury Management Strategy, on which separate minutes appear below). In relation to the Fees and Charges section of the report, the Executive also took into account a tabled paper setting out revised proposals in respect of Taxi Licence Renewal fees.

            RESOLVED – That it be recommended that Council approve:

·         The net Revenue Budget for 2015/16 at £148.914m, a decrease of £(5.638)m, or (3.6)%, when compared to the 2014/15 base budget of £154.552m;

·         The calculation of the Council Tax Requirement as summarised in Section 10 and set out in the Formal Council Tax Resolution (Green Sheets to be circulated at Council);

·         That there is no increase in the proposed Council Tax level for Trafford related services in 2015/16 (valuation bands are detailed at Annex E;

·         The Fees and Charges for 2015/16, as set out in the booklet available on the Council’s website (subject to the amendment set out in the supplementary paper presented to the meeting) :-

Ø  Approval is given to Corporate Directors and the Director of Finance with the joint delegation to amend fees and charges during 2015/16 in the event of any change in the rate of VAT, as appropriate

Ø  Approval is given to the Corporate Director, Economic Growth, Environment and Infrastructure, and the Director of Finance with joint delegation to amend fees and charges in line with commercial negotiations with the Joint Venture Partner(s) (if approved).

·         That the minimum level of General Reserve for 2015/16 be set at £6.0m, the same as in 2014/15 (Section 5 of the report);

·         The overall Capital Investment Programme level of £79.7m be approved (as detailed in the Capital Investment Programme 2015/18 report – Item 3d attached to the agenda) of which £41.8m relates to 2015/16.

·         The Prudential Borrowing Indicators as set out in Appendix 3, page 14, of the Treasury Management Strategy – Item 3e attached to the agenda.

·         The distribution of Dedicated Schools Grant as recommended by the School Funding Forum and Executive as summarised in Section 7 and detailed in Annex F to the 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 (Section 5 and Annex M).

·         The Executive’s response to the Scrutiny Committee’s recommendations to the budget proposals, which can be found elsewhere on the agenda – Item 3c.

·         The detailed report on the outcomes of the Staff and Trade Union Consultation which can be found on the agenda for the Executive on 26 January 2015.

·         The Equality Impact Assessments in relation to the budget proposals and the Public Sector Equality duty

And that in addition, the Council notes the following :

·         The approval on 30 January 2015 under delegated powers by the Director of Finance of the Council Tax Base for 2015/16 at 72,669 Band D equivalents. Along with the calculation of the estimated Council Tax surplus, sufficient to release £(300)k to support the Council’s 2015/2016 revenue budget and a distribution of £(41.3)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 2016/17 and 2017/18 is to be set at an indicative £23.5m and £14.4m respectively.

·         That the Council Tax figures included in the report for the GM Fire & Rescue Authority are the recommended provisional amounts pending their formal approval on 12^th February 2015.

·         The Treasury Management Strategy 2015/18 detailed elsewhere on the agenda (Item 3e).

·         The writing down of the Learning Disability pool deficit of £3.0m

·         The base budget assumptions as set out in the Medium Term Financial Outlook as detailed in Annex A to the report.

·         That final decisions with regard to some services will not be taken until March 2015. As a result, the allocation of resources set out on pages 65-69 may vary including the use of reserves. All reports will be presented at the appropriate time.