To consider the Final General Fund and Housing Revenue Account 2020/21 revenue and capital estimates and the Final Financial Medium Term Plan (report of the Portfolio Holder for Finance and the Executive Director Commercialisation (S151) enclosed).
(Please note that in accordance with The Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a recorded vote will be taken on recommendations concerning Final Budget, Medium Term Plan and Capital and Treasury Strategy.)
Consideration was given to the report of the Portfolio Holder for Finance and the Executive Director Commercialisation (S151) which presented the General Fund and Housing Revenue Account 2020/21 revenue and capital estimates and the Final Financial Medium Term Plan.
The Portfolio Holder for Finance introduced the report and advised that there were no significant changes to the budget and highlighted the following areas:
The Portfolio Holder for Finance proposed the recommendations contained within the report, subject to there being no increase to the Market fees which will be reviewed in conjunction with the general review of fees and charges in October.
That Council approves:
a) That the Revenue Estimates for the General Fund, Housing Revenue Account and Spalding Special Expenses for 2020/21 (Appendices A. B, C and I) be approved.
b) That the use of reserves (Appendix D) be approved.
c) That the Council Tax for a Band A property in 2020/21 be set at £119.82 (a £3.30 per annum increase on 2019/20 levels) and band D £179.73 for 2020/21 (a £4.95 per annum increase on 2019/20 levels).
d) That the Spalding special expense for a Band A property be set at £15.88 for 2020/21, (previously £15.78 in 2019/20) and Band D £23.82 for 2020/21, (previously £23.67 in 2019/20).
e) That the Medium Term Financial Strategy (Appendix B) be approved.
f) That Housing Revenue Account weekly dwelling rents increase by 2.7% over the previous year, 2019/20, with effect from Monday 6 April 2020. 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 and H).
i) That, subject to the entry for market stalls fees being amended so as not to show an increase, the fees and charges shown in Appendix J be approved for adoption from 1 April 2020
In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014 a recorded vote was taken on the recommendations (Final Budget, Medium Term Plan and Capital and Treasury Strategy). The vote was as follows: