Agenda item

To consider the General Fund revenue and capital estimates and the Financial Medium Term Plan, the Capital Strategy and the Treasury Management Strategy Statement prior to formal adoption by Council (report of the Portfolio Holder for Strategic Finance and Democratic Services and the Assistant Director, Finance enclosed).

Consideration was given to the joint report of the Portfolio Holder for Strategic Finance and Democratic Services and the Assistant Director Finance (S151) which set out the General Fund revenue and capital estimates and the Financial Medium Term Plan, the Capital Strategy and the Treasury Management Strategy Statement.  The Cabinet was requested to consider this information, prior to formal adoption by full Council.

The appendices to the report outlined the 2013-14 revenue and capital estimates for the General Fund; the proposals for the setting of discretionary fees and charges; the outline financial position through to 2017-18; the financial medium term plan; the capital strategy and the Treasury Management Strategy Statement.

The financial medium term plan set out the framework within which the budget was to be set to ensure that it enabled the Council to achieve its own corporate objectives.  The capital strategy set out the framework for the capital budget setting.

The Treasury Management Strategy Statement addressed how the Council would manage its treasury function over the coming year, as well as identifying the prudential indicators that the authority had to approve to meet the requirements of regulations.

The report under consideration concentrated on the General Fund estimates.  The Housing Revenue Accounts had been approved at Council on 23 January 2013.

The Cabinet was advised that the amount at which the Spalding Special Expense for a Band D property in 2013-14 should be set, detailed in recommendation D, was incorrect.  The amount should read £23.28 and not £23.29 as detailed within the recommendation.

RECOMMENDED TO FULL COUNCIL:

a)     That the General Fund revenue estimates (Appendix A), use of reserves (Appendix D) and Fees and Charges (Appendix H) be approved;

b)     That the Council Tax for a Band D property in 2013-14, to be set at £156.24, be approved;

c)      That the Spalding Special Expenses estimates (Appendix C) be approved;

d)     That the Spalding Special Expenses for a Band D property in 2013-14, to be set at £23.28, be approved;

e)     That the Medium Term Financial Plan (Appendices A and B) be approved;

f)        That the Capital Strategy and Programme (Appendices E and F) be approved; and

g)     That the Treasury Management Strategy Statement, including the Minimum Revenue Provision Policy, Annual Investment Strategy and the associated Prudential and Treasury Indicators (Appendix G) be approved.

(Other options considered:

·        To note the report and make changes if necessary; or

·        To do nothing

Reasons for decision:

·        To comply with the budgetary and policy framework.)