Agenda item

Reference from Executive 21 February 2018 - Draft Revenue & Capital Budget Proposals 2018/19

Minutes:

The Head of Financial Services submitted a report to present the draft revenue and capital budget and formal advice on the robustness of the estimates included in the budget and the adequacy of the reserves which supported the Council’s budgetary plans.

 

The report had been considered by Executive on 21 February 2018. Executive had recommended that Council be requested to approve the recommendations within the report.

 

Councillor B Cannon moved the recommendations within the report and thanked the Head of Finance and the Financial Services Team, the Senior Management Team and the Overview and Scrutiny Budget Task and Finish Group for their hard work and contribution in the preparation of the draft budgets.

Councillor A Smith seconded the motion.

 

A recorded vote was taken in respect of the motion to agree the recommendations within the report, viz. –

 

In favour:

 

Councillors T Annison, C Armstrong, M Bainbridge, P Bales, B Cannon, J Colhoun, J Crouch, L Davies, J Ellis, M Fitzgerald, M Fryer, K Hansen, H Harrington, M Heaslip, J Holliday, W Jefferson, F Johnston, A Kendall, P Kendall, L Maguire, C McCarron-Holmes, B Miskelly, J Osborn, B Pegram, M Pugmire, N Schofield, A Smith, C Smith, C Tibble, P Tibble, L Williamson, D Wilson, J Wood and M Wood.

 

Against:

 

Councillor S Stoddart

 

Abstentions:

 

Councillors J Cowell, A Davis-Johnston, A Hedworth, M Jenkinson, J Lister, P Macdonald, A Markley, R Munby, E Nicholson, A Pitcher, D Robertson and J Sandwith.

 

The motion was carried – 34 votes in favour, 1 against and 12 abstentions.

 

Resolved

 

That:

1.  The total planned revenue expenditure be £15,670,916 including parish precepts of £2,024,054

2.  £14,604,435 be approved as the Council’s net Budget requirement for 2018-19

  1. An increase in Council Tax of £5 on band D Properties, with proportionate increases being applied to properties, in other council tax bands be approved

4.  No changes be made to the Council’s Council Tax Reduction discount scheme and that the current scheme remains in place for 2018-19

5.  The amount of council tax support funding to be paid to Town and Parish Council be set at £20,666 (Appendix A)

6.  The revenue estimates as approved are used in the calculation of the basic amount of tax under Section 31of the Local Government Finance Act 1992

7.  The minimum level of non-earmarked general fund balances be set at £2.7m and that no maximum level be set

8.  The capital budget of £18,972,755 (comprising £14,592,755 in 2018-19, £2,340,000 in 2019-20 and £2,040,000 in 2020-21) be approved

9.  The proposed capital budget for 2018-19 be financed as follows:

·  grants and contributions …..£9,043,255

·  borrowing………………...….£5,530,000

·  revenue …………………………..£3,500

·  earmarked reserves ………….. £16,000

 

Supporting documents: