Agenda item

Budget, Medium Term Strategy and Capital Strategy

To consider the General Fund and Housing Revenue Account 2019/20 revenue and capital estimates and the Financial Medium Term Strategy (report of the Portfolio Holder for Finance and the Executive Director Commercialisation enclosed)

Minutes:

Consideration was given to the report of the Portfolio Holder for Finance and the Executive Director Commercialisation which presented the General Fund and Housing Revenue Account 2019/20 revenue and capital estimates and the Financial Medium Term Strategy, for consideration.

 

The Portfolio Holder for Growth and Commercialisation introduced the report. South Holland remained in a strong overall position. Changes to the fair funding review would be manageable. Innovative and efficient budget management was key to the favourable situation.

 

The proposed budget did not have any reliance on the new homes bonus and in addition, all budgets had been subjected to detailed scrutiny. It was recommended that there was a £4.95 increase to Band D council tax. Although the average household would only see an increase of just over 8p per week.

 

Further allowances were being made for the purchasing of property in the district.

 

Housing rent would reduce by 1% in accordance with national standards. It was notable that the cabinet had also approved the new business rates relief, which could see up to a 1/3 reduction of rates for small local businesses.

 

DECISION:

 

1.    That Council Approves:

 

a.    The revenue Estimates for the General Fund, Housing Revenue Account and Spalding Special Expenses for 2019/20 (Appendices A. B and C to the report) be approved.

 

b.    That the use of reserves (Appendix D) be approved.

 

c.    That the Council Tax for a Band A property in 2019/20 be set at £116.52 a £3.30 per annum increase on 2018/19 levels (Band D £174.78 for 2019/20, a £3.95 per annum increase on 2018/19 levels).

 

d.    That the Spalding special expense for a Band A property be set at £15.78 for 2019/20, (previously £15.66 in 2018/19) and Band D £23.67 for 2019/20, (previously £23.49 in 2018/19).

 

e.    That the Medium Term Financial Strategy (Appendix B) be approved.

 

f.     That the Housing Revenue Account weekly dwelling rents reduce by 1% over the previous year, 2018/19, rent with effect from Monday 1st April 2019. This is in line with current government guidelines and legislation.

 

g.    That the Capital Strategy and Capital Programme (Appendices E and F) be approved.

 

h.    That the Treasury Management Strategy, including the Minimum Revenue Provision policy and Investment Strategy be approved. (Appendix G).

 

i.      That the fees and charges shown in Appendix H be approved for adoption from 1 April 2019.

 

2.    Approve the increase in the establishment of 1.0 FTE (shared with BDC, 60% BDC and 40% SHDC), to create a post that adds capacity to support the Chief Executive and Directors at a senior level to move forward a number of strategic priorities and helps to identify the key impacts of emerging national and local policy on the organisation(s) from a corporate point of view, enabling effective mitigation as required (as detailed in Appendix A, paragraph 3.7.2).

 

3.    Approve the additional council tax premium for long term empty properties as detailed in 1.21.

 

In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014 a recorded vote was taken on the recommendations below (Draft Budget, Medium Term Plan and Capital Strategy). The vote was as follows

 

 

For

Against

Apologies/Absent

Councillor Alcock

Councillor Aley

Councillor Ashby

Councillor Astill

Councillor Avery

Councillor Biggadike

Councillor Booth

Councillor Carter

Councillor Casson

Councillor Chandler

Councillor Drury

Councillor Eldridge

Councillor Foyster

Councillor Gambba-Jones

Councillor Grocock

Councillor Lawton

Councillor McLean

Councillor Newton

Councillor Porter

Councillor Reynolds

Councillor Slade

Councillor Sneath

Councillor Taylor

Councillor Whitbourn

Councillor Williams

Councillor Woolf

Councillor Worth

 

Councillor Brewis

Councillor Coupland

Councillor Dark

Councillor Harrison

Councillor Johnson

Councillor King

Councillor Seymour

Councillor Tennant

Councillor Wray

 

Supporting documents: