The subject of the decision
The Chief Officer Assets submitted a report which sought to present to Members the draft revenue and capital budget and the formal advice of the chief financial officer on the robustness of the estimates included in the budget and the adequacy of the reserves which supported the Council’s budgetary plans.
Councillor C Sharpe presented the report and acknowledged the key points raised by the Scrutiny Budget Task and Finish Group. He thanked the Scrutiny members for their work and contribution to the budget setting process and confirmed that the Executive had certainly and sincerely reflected on what impacts there would be going forward and beyond the transition period of forming the new Cumberland Authority.
Councillor Sharpe moved the recommendations contained within the report.
The Executive expressed thanks to all those involved in setting the balanced budget.
The motion was seconded by Councillor A Pitcher.
A vote was taken, the recommendations were unanimously agreed.
Alternative options considered
The reason for the decision
The Council’s statutory requirement to approve a balanced budget.
That Council be requested to agree that –
(i) The total planned revenue expenditure be £15,894,980 including parish precepts of £2,702,794;
(ii) £15,728,915 be approved as the Council’s net budget requirement for 2022-23;
(iii) Allerdale’s share of council tax be frozen at the current (2021-22) level (£179.72 on band D Properties);
(iv) No changes be made to the Council’s Council Tax Reduction discount scheme and that the current scheme remained in place for 2022-23;
(v) The revenue estimates, as approved, be used in the calculation of the basic amount of tax under Section 31 of the Local Government Finance Act 1992;
(vi) The minimum level of non-earmarked general fund balances be set at £2.7m and that no maximum level be set;
(vii) The three-year capital budget (2022-23 to 2024-25) of £41,738,197 (comprising £19,760,372 in 2022-23, £15,400,055 in 2023-24 and £6,577,770 in 2024-25) be approved;
(viii) The proposed three-year capital budget for 2022-23 to 2024-25 be financed as follows:
a. grants and contributions ……………………..£35,885,865
b. borrowing and credit arrangements (leases)...£5,216,480
c. capital receipts ……………………………………£635,852