Decision Maker: Cabinet
Decision status: Recommmend Forward to Council
Is Key decision?: No
Is subject to call in?: No
The Cabinet will be asked to consider the proposals for the 2021 to 2022 budget and Medium Term Financial Strategy 2021 to 2025 for West Suffolk Council, prior to its approval by Council. This report includes the Minimum Revenues Provision (MRP) Policy and Prudential Indicators.
Recommended to Council (23 February 2021):
1. the revenue and capital budget for 2021 to 2025, plus 2020 to 2021 capital projects that subsequently require to be carried forward at the year end, attached at Attachment A and as detailed in Attachment D (Appendices 1-5), Attachment E (Appendices 1-3) and Attachment F to Report number: CAB/WS/21/008, be approved.
2. Having taken into account the conclusions of the Assistant Director’s (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 number: CAB/WS/21/008, the Cabinet recommends an average £4.99 increase in Band D council tax across both predecessor areas of St Edmundsbury and Forest Heath. This assumption is based on the option to harmonise the two predecessor areas by April 2022. The level of Band D council tax for 2021 to 2022, therefore, be recommended to be set at £185.40 for the predecessor area of St Edmundsbury and £175.59 for the predecessor area of Forest Heath. (The level of council tax beyond 2021 to 2022 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 vire funds between existing Earmarked Reserves (as set out at Attachment D, Appendix 3) as deemed appropriate throughout the medium term financial planning period.
4. Approval be given to the Flexible Use of Capital Receipts Strategy (as set out in Attachment G).
Report author: Rachael Mann
Publication date: 11/02/2021
Date of decision: 09/02/2021
Decided at meeting: 09/02/2021 - Cabinet