Decision details

The Cabinet will be asked to consider the proposals for the 2018/2019 budget and Medium Term Financial Strategy, prior to its approval by Council.  This report includes the Minimum Revenues Provision (MRP) Policy and Prudential Indicators.

RECOMMENDED TO COUNCIL: (21 February 2018)

That:

1.           The revenue and capital budget for 2018-2022 attached at Attachment A and as detailed in Attachment D, Appendices 1-5, Attachment E and F, as all attached to Report No: CAB/FH/18/013, be approved.

2.           Having taken into account the conclusions of the Assistant Director (Resources and Performance) report on the adequacy of reserves and the robustness of budget estimates (Attachment C) and the Medium Term Financial Strategy (MTFS) (Attachment D), particularly the Scenario Planning and Sensitivity Analysis (Attachment D, Appendix 5) and all other information contained in Report No: CAB/FH/18/013, Cabinet recommends a 3.5% increase in council tax for 2018/2019, which is in line with the approved business case for the creation of a single council for West Suffolk. The level of Band D council tax for 2018/2019 therefore be set at £147.33 (Note: the level of council tax beyond 2018/2019 will be set in accordance with the annual budget process for the relevant financial year.)

3.           The Assistant Director (Resources and Performance), in consultation with the Portfolio Holder for Resources and Performance, be authorised to transfer any surplus from the 2017/2018 revenue budget to the Invest to Save Reserve as detailed in paragraph 1.9.4, and to vire funds between existing Earmarked Reserves (as set out at Attachment D, Appendix 3) as deemed appropriate throughout the year.

4.           Acceptance of the offer for Forest Heath District Council to participate in the Business Rate Pilot for 2018/2019, as set out in paragraphs 1.2.7-1.2.9 of Report No: CAB/FH/18/013.

5.           Approval is given to the Assistant Director (HR, Legal and Democratic Services), in consultation with the relevant service Assistant Director, to determine the establishment and the employment arrangements to deliver the Councils’ priorities within agreed budgets and the principles of the MTFS, as set out in paragraphs 1.7 to 1.7.7 of Report No: CAB/FH/18/013.