Decision details

Medium Term Financial Plan 2021/22- 2024/25

Decision status: Recommmend to Council

Is Key decision?: No

Is subject to call in?: Yes

Decision:

RESOLVED – That the following recommendations be referred to Council:

 

(1)          That in the view of the Chief Financial Officer, that the estimates included in the Medium Term Financial Plan 2021/2 to 2024/25 are robust and that the level of financial reserves whilst at minimum levels are adequate, be accepted.

(2)          That officers report back to Executive and to the Budget Scrutiny Committee on a quarterly basis regarding the overall position in respect of the Council’s budgets.  These reports to include updates on achieving savings and efficiencies for 2021/22 and future years.

 

GENERAL FUND

 

(3)          A Council Tax increase of £4.99 is levied in respect of a notional Band D property (2.75%).

(4)          The Medium Term Financial Plan in respect of the General Fund as set out in Appendix 1 of this report be approved as the Revised Budget 2020/21, as the Original Budget in respect of 2021/22, and the financial projection in respect of 2022/23 to 2024/25.

(5)          That any further under spend in respect of 2020/21 is transferred to the Council’s General Fund Reserves.

(6)          On the basis that income from Planning Fees may exceed £0.500m in 2020/21, the Head of Paid Service in consultation with the Leader be granted delegated powers to authorise such additional resources as are necessary to effectively manage the resultant increase in workload.

 

HOUSING REVENUE ACCOUNT

 

(7)          That Council sets its rent levels in line with government policy, increasing rent levels by CPI (.5%) plus 1% to apply from 1 April 2021.

(8)          That the increases in respect of other charges as outlined in Appendix 3 Table 1 be implemented with effect from 1 April 2021.

(9)          The Medium Term Financial Plan in respect of the Housing Revenue Account as set out in Appendix 3 of this report be approved as the Revised Budget in respect of 2020/21, and the financial projection in respect of 2022/23 to 2024/25.

(10)       That under spends in respect of 2020/21 to 2024/25 are transferred to the HRA Revenue Reserve.

 

CAPITAL PROGRAMME

 

(11)       That the Capital Programme as set out in Appendix 4 be approved as the Revised Budget in respect of 2020/21, and as the Approved Programme for 2021/22 to 2024/25.

(12)       That the Head of Property Services and Housing Repairs be granted delegated powers in consultation with the Portfolio Member and the Asset Management Group to approve the utilisation of the £260,000 of AMP Refurbishment Work allocation, with such approvals to be reported back to Executive through the Quarterly Budget Monitoring Report.

 

 

Publication date: 25/01/2021

Date of decision: 25/01/2021

Decided at meeting: 25/01/2021 - Executive

Effective from: 04/02/2021

Accompanying Documents: