Agenda item

Report No:   CAB/SE/15/005

Cabinet Member: David Ray           Lead Officer: Rachael Mann

RECOMMENDED TO COUNCIL:

That:

(1)     the revenue and capital budget for 2015/2016 attached at Attachment A to Report No: CAB/SE/15/005,  and as detailed in Attachment D, Appendix 1-5 and Attachment E be approved;

(2)     having taken into account the conclusions of the Head of Resources and Performance’s 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 and Appendix 5) and all other information contained in this report, Cabinet recommends a 0% increase in council tax for 2015/2016;

(3)     the Head of Resources and Performance, in consultation with the Portfolio Holder for Resources and Performance, be authorised to transfer any surplus from the 2014/2015 revenue budget to the Invest to Save Reserve as detailed in paragraph 1.8.4, and to vire funds between existing Earmarked Reserves (as set out at Attachment D, Appendix 3) as deemed appropriate throughout the year; and

(4)    that the use of the Council’s discretionary power (S47 Local Government Finance Act) to provide the transitional relief be approved and delegated authority be given to the Head of Resources and Performance, in consultation with the Portfolio Holder for Resources and Performance, to determine the final guidelines for the operation of the transitional relief for 2015/2016 and 2016/2017 following the current scheme and guidance issued by Government (Attachment F), as set out in paragraphs 1.4.3 to 1.4.7 of Report No: CAB/SE/15/005.

The Cabinet considered Report No: CAB/SE/15/005 (previously circulated), which presented the proposals for Budget and Council Tax Setting in 2015/2016. 

Councillor Ray, Portfolio Holder for Resources and Performance drew relevant issues to the attention of the Cabinet, including that Report No: CAB/SE/15/005 set out details of the Council’s proposed revenue and capital budgets for 2015/2016 and the Cabinet was required to consider the 2015/2016 budget for the authority and recommend to Council the level of Council Tax required to fund this budget. 

The Finance Team was commended for delivering a sustainable budget for 2015/2016.  Staff were also recognised for showing dedication and commitment in making the Council more efficient in delivering the necessary savings whilst maintaining the delivery of services. 

It was also acknowledged that by 2018/2019, the projected budget gap amounted to £2.5million for St Edmundsbury, as set out in the adopted Medium Term Financial Strategy (MTFS).  Six themes contained within the MTFS and summarised in Section 2.3 of the report, related to areas of the West Suffolk councils’ business which would support sustainability in a more financially constrained environment, which included continuing the shared services agenda and behaving more commercially.

The Cabinet supported the proposal for maintaining the same level of Council Tax as 2014/2015, which meant there had been no increase in Council Tax for the fifth consecutive year and for six out of the last seven years. With costs rising and all the other changes and pressures on the Council, the Cabinet considered this to be a tremendous achievement whilst maintaining the provision of excellent services for the residents of the Borough. Members also supported the proposal in connection with the business rates transitional relief 2015/2016 to 2016/2017, as detailed in paragraphs 1.4.3 to 1.4.7 of the report.

RECOMMENDED TO COUNCIL:

That:

(1)    the revenue and capital budget for 2015/2016 attached at Attachment A to Report No: CAB/SE/15/005,  and as detailed in Attachment D, Appendix 1-5 and Attachment E be approved;

(2)    having taken into account the conclusions of the Head of Resources and Performance’s 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 and Appendix 5) and all other information contained in this report, Cabinet recommends a 0% increase in council tax for 2015/2016;

(3)    the Head of Resources and Performance, in consultation with the Portfolio Holder for Resources and Performance, be authorised to transfer any surplus from the 2014/2015 revenue budget to the Invest to Save Reserve as detailed in paragraph 1.8.4, and to vire funds between existing Earmarked Reserves (as set out at Attachment D, Appendix 3) as deemed appropriate throughout the year; and

(4)    that the use of the Council’s discretionary power (S47 Local Government Finance Act) to provide the transitional relief be approved and delegated authority be given to the Head of Resources and Performance, in consultation with the Portfolio Holder for Resources and Performance, to determine the final guidelines for the operation of the transitional relief for 2015/2016 and 2016/2017 following the current scheme and guidance issued by Government (Attachment F), as set out in paragraphs 1.4.3 to 1.4.7 of Report No: CAB/SE/15/005.