Decision details

2020/21 Final Budget, Medium Term Plan and Capital Strategy

Decision Maker: Cabinet

Decision status: Recommmend Forward to Council

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To consider the Final General Fund and Housing Revenue Account 2020/21 revenue and capital estimates and the Final Financial Medium Term Plan (for Recommendation to Council)

Decision:

DECISION:

 

That delegated authority be given to the Executive Director Commercialisation (S151), in consultation with the Portfolio Holder for Finance, Strategy & Partnerships, to make any necessary amendments to the budget prior to Council due to late notifications.

 

RECOMMENDED TO COUNCIL:

 

  • That the Revenue Estimates for the General Fund, Housing Revenue Account and Spalding Special Expenses for 2021/22 (Appendices A, B, C and I) be approved
  • That the use of reserves (Appendix D) be approved
  • That the Council Tax for a Band A property in 2021/22 be set at £123.12 (a £3.30 per annum increase on 2020/21 levels) and band D £184.68 for 2021/22 (a £4.95 per annum increase on 2020/21 levels).
  • That the Spalding special expense for a Band A property be set at £16.12 for 2021/22, (previously £15.88 in 2020/21) and Band D £24.18 for 2021/22 (previously £23.82 in 2020/21).
  • That the Medium Term Financial Strategy (Appendix B) be approved.
  • That Housing Revenue Account weekly dwelling rents increase by 1.5% over the previous year, 2020/21, with effect from Monday 5th April 2021. This is in line with current government guidelines and legislation.
  • That the Capital Strategy and Capital Programme (Appendices E and F) be approved.
  • That the Treasury Management Strategy, including the Minimum Revenue Provision policy and Investment Strategy be approved (Appendix G and H).

 

 

Reasons for the decision:

To comply with the budgetary and policy framework

Alternative options considered:

No alternative options were presented but amendments could have been made by the Cabinet before release to Council.

 

Interests and Nature of Interests Declared:

None

Wards Affected: (All Wards);

Conflict of Interest: None

Dispensation Granted: None

Contact: Carl Holland, Deputy Head of Finance Email: Carl.Holland@pspsl.co.uk, Samantha Knowles, Strategic Finance and Compliance Manager Email: SKnowles@sholland.gov.uk.

Report author: Carl Holland

Publication date: 18/02/2021

Date of decision: 16/02/2021

Decided at meeting: 16/02/2021 - Cabinet

Effective from: 26/02/2021

Current call-in Count: 0

Accompanying Documents: