Agenda and draft minutes

Special Cabinet meeting - draft budget, Cabinet
Monday, 17th December, 2018 10.00 am

Venue: Council Chamber, Council Offices, Priory Road, Spalding

Contact: Democratic Services  01775 764626

Note: Special Cabinet meeting 

Items
No. Item

49.

Declarations of Interest.

(Where a Councillor has a Disclosable Pecuniary Interest the Councillor must declare the interest to the meeting and leave the room without participating in any discussion or making a statement on the item, except where a Councillor is permitted to remain as a result of a grant of dispensation.)

Minutes:

There were no declarations of interest.

50.

Draft Budget, Medium Term Plan and Capital Strategy (For Consultation) pdf icon PDF 453 KB

To consider the Draft General Fund and Housing Revenue Account 2019-20 revenue and capital estimates and the Draft Financial Medium Term Plan (for Consultation) (report of the Portfolio Holder Finance and the Executive Director Commercialisation (S151) enclosed).

 

Please note that Appendix F will be sent ‘to follow’.

Additional documents:

Minutes:

Consideration was given to the report of the Portfolio Holder for Finance and the Executive Director Commercialisation (S151), which requested that members consider the Draft General Fund and Housing Revenue Account 2019-20, revenue and capital estimates and the Draft Financial Medium Term Plan (for consultation).

 

It was noted that the wording of the fourth recommendation did not show in full on the report – it was confirmed that it should read ‘that members note the ongoing use of the Council Tax reserve to facilitate the smoothing of business rates surplus or deficits’.

 

AGREED:

 

a)    That the following documents be issued for consultation:

 

·         Revenue Estimates for the General Fund and Housing Revenue Account and (as set out in Appendices A, B and C)

·         Reserves position as set out in Appendix D

·         Capital Programme as set out in Appendix E

·         Capital Strategy as set out in Appendix F (this was not available at the meeting, but would be considered by the Cabinet at its meeting in February 2019);

 

b)    That a £500k annual addition be made to the capital programme for the five year period 2018-19 to 2022-23 to fund the acquisition of capital assets;

 

c)    That members note the intention to create a Community reserve of £500k using New Homes Bonus (NHB) in 2019-20 as part of the budget setting process; and

 

d)    That members note the ongoing use of the Council Tax reserve to facilitate the smoothing of business rates surplus or deficits.

 

(Other options considered:

·         That the draft capital and revenue budget estimates, the medium term financial plan and the capital strategy be released for consultation, with amendments.

Reasons for recommendation:

·         To comply with the budgetary and policy framework.)