Issue - meetings

The material relevant to this item can be found on pages 9-14 of the Cabinet agenda pack for 8 December 2020 and its associated appendices.

The following recommendations were made to Council:

a)    The key financial principles and actions set out in appendix 1 of the 5 year Financial Strategy report are approved.

b)    That having considered the recommendations of the Corporate Governance and Audit Committee, the Minimum Level of Reserves remains set at £4m.

c)    That the current 5 year Financial Model detailed in appendix 2 and the Resources Statement in appendix 3 to the Financial Strategy report be noted.

Cllr Wilding was invited to introduce the report. Cllr Wilding then moved the recommendations which were seconded by Cllr Lintill.

Cllr Plowman requested a revision in light of the national situation since 8 December 2020. Mr Ward explained that although things have changed they do not affect the financial principles.

Cllr Moss requested confirmation of when proposals for the Budget could be put forward. Mr Ward explained that there is a Special Cabinet on 16 February 2021 to consider the Budget. Cabinet will then make recommendations to Full Council on 2 March 2021. Full Council ultimately set the Budget.

In relation to Council Tax Cllr Oakley asked how much revenue income comes from property. Mr Ward explained that there are £1.2 million of treasury investments with £730,000 to revenue reserves.

Members voted virtually on the recommendations which were carried.

RESOLVED

1.    The key financial principles and actions set out in appendix 1 of the 5 year Financial Strategy report are approved.

2.    That having considered the recommendations of the Corporate Governance and Audit Committee, the Minimum Level of Reserves remains set at £4m.

3.    That the current 5 year Financial Model detailed in appendix 2 and the Resources Statement in appendix 3 to the Financial Strategy report be noted.

The Cabinet is requested to consider the report and its appendices and make the following recommendations to the Council:

a)    The key financial principles and actions set out in appendix 1 of the 5 year Financial Strategy report are approved.

b)   That having considered the recommendations of the Corporate Governance and Audit Committee, the Minimum Level of Reserves remains set at £4m.

c)     That the current 5 year Financial Model detailed in appendix 2 and the Resources Statement in appendix 3 to the Financial Strategy report be noted.

The Cabinet is also recommended to make the following resolution:

That the updated Fees and Charging Policy shown in appendix 4 be approved.

Please note that appendix 2 is an exempt appendix and is therefore not publically available.

*RECOMMENDATIONS TO COUNCIL

1)    The key financial principles and actions set out in appendix 1 of the 5 year Financial Strategy report are approved.

2)    That having considered the recommendations of the Corporate Governance and Audit Committee, the Minimum Level of Reserves remains set at £4m.

3)    That the current 5 year Financial Model detailed in appendix 2 and the Resources Statement in appendix 3 to the Financial Strategy report be noted.

RESOLVED

That the updated Fees and Charging Policy shown in appendix 4 be approved.

Cllr Wilding introduced the item. He confirmed that at its meeting the Corporate Governance and Audit Committee had been supportive of the report.

Mr Ward was then invited to provide an update following the Chancellors recent announcements. He explained the following:

·         The public sector pay restraints stands to save the council £110,000 in staffing each year for the next five years.

·         It is anticipated that a Council Tax rise will still be accepted.

·         Local Government as a whole is anticipating £1.55 billion in local government Covid support funding in the first quarter.

·         It is anticipated that there will be £670 million in local government Council Tax funding to support the increase in additional claims.

·         It is anticipated that eth sales, fees and charges compensation scheme will be extended into the first quarter.

In a vote the following recommendations and resolutions were made:

RECOMMENDATIONS TO COUNCIL

1)    The key financial principles and actions set out in appendix 1 of the 5 year Financial Strategy report are approved.

2)    That having considered the recommendations of the Corporate Governance and Audit Committee, the Minimum Level of Reserves remains set at £4m.

3)    That the current 5 year Financial Model detailed in appendix 2 and the Resources Statement in appendix 3 to the Financial Strategy report be noted.

RESOLVED

That the updated Fees and Charging Policy shown in appendix 4 be approved.