Issue - meetings

B Report of Director of Resources (Copy herewith)

1.    Cabinet agreed that the feedback from consultation with the public, organisations and the Overview and Scrutiny and Audit Committees be considered and welcomed (detailed at Appendices 1a, 1b, and 1c of the report).

2.    Cabinet agreed that the Council’s representations on the provisional formula funding settlement be noted (Appendix 2 of the report).

3.    Cabinet agreed to the changes to the proposed budget (detailed at Appendix 3 of the report), in light of the consultation responses, equalities issues and the final formula funding settlement.

4.    Cabinet agreed that a General Fund budget for 2013/14 of £27.14m (excluding parishes) be recommended to the Council (detailed in Appendices 4, 5, 6a and 6b of the report) for its own purposes.

5.    Cabinet noted the key medium term financial issues as set out at Appendix 7 of the report.

6.    Cabinet acknowledged the issues and risks detailed in the Chief Finance Officer’s statement on the robustness of estimates and the adequacy of the reserves (Appendix 8 of the report).

7.    Cabinet noted the draft Fees and Charges set out in Appendix 9 of the report.

8.    Cabinet delegated authority to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 25 February 2013.

9.    Cabinet agreed that Council be recommended to delegate authority to the Chief Executive and Chief Finance Officer to implement all budget options and restructures.

10. Cabinet delegated authority to the Chief Finance Officer in consultation with the Cabinet Member for Finance, and where appropriate the relevant Director and Cabinet Member to:

·         transfer monies to/from earmarked reserves should that become necessary during the financial year.

·         update the budget tables and appendices, prior to Council should any further changes be necessary.

·         update prudential indicators in both the Prudential Indicators report and Treasury Strategy report, for Council for any budget changes that impact on these.

11. Cabinet agreed that Council be recommended to confirm the reserves strategy of protecting balances wherever possible to allow the option of supporting future years’ budgets, aiming for a minimum level of unallocated general fund balances of at least £3.1m for 2013/14 having regard to the outcome of the financial risk assessment and remaining at this level over the medium term.

12. Cabinet agreed that Council be recommended not to increase the Council Tax for its own purposes, that is, excluding county, police, and parish precepts for 2013/14.

Councillor Bottwood, as the relevant Cabinet Member, submitted a report and explained that the report detailed the outcome of the consultation process on the 2013/14 General Fund Budget. It was noted that there was a balanced budget and that for a three consecutive years there had been no increase in Council tax, which was considered particularly relevant with the National introduction of Welfare Reform and Universal Credit. It was noted that there were numerous challenges to Local Authorities and therefore shared services, such as LGSS, had to be explored; by joining LGSS the Council were in a more positive postion to safeguard jobs.

Councillor Eldred commented that the first night of ‘Alive at Delapre’ event had sold out and would attract a great number of people into the Town.

RESOLVED:

That the following be agreed:

1.    That the feedback from consultation with the public, organisations and the Overview and Scrutiny and Audit Committees be considered and welcomed (detailed at Appendices 1a, 1b, and 1c of the report).

2.    That the Council’s representations on the provisional formula funding settlement be noted (Appendix 2 of the report).

3.    That the changes to the proposed budget (detailed at Appendix 3 of the report), in light of the consultation responses, equalities issues and the final formula funding settlement be agreed.

4.    That a General Fund budget for 2013/14 of £27.14m (excluding parishes) be recommended to the Council (detailed in Appendices 4, 5, 6a and 6b of the report) for its own purposes be agreed.

5.    That the key medium term financial issues as set out at Appendix 7 of the report be noted.

6.    That the issues and risks detailed in the Chief Finance Officer’s statement on the robustness of estimates and the adequacy of the reserves (Appendix 8 of the report) be acknowledged.

7.    That the draft Fees and Charges set out in Appendix 9 of the report be noted

8.    That authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 25 February 2013.

9.    That Council be recommended to delegate authority to the Chief Executive and Chief Finance Officer to implement all budget options and restructures.

10. That authority be delegated to the Chief Finance Officer in consultation with the Cabinet Member for Finance, and where appropriate the relevant Director and Cabinet Member to:

·         transfer monies to/from earmarked reserves should that become necessary during the financial year.

·         update the budget tables and appendices, prior to Council should any further changes be necessary.

·         update prudential indicators in both the Prudential Indicators report and Treasury Strategy report, for Council for any budget changes that impact on these.

11. That Council be recommended to confirm the reserves strategy of protecting balances wherever possible to allow the option of supporting future years’ budgets, aiming for a minimum level of unallocated general fund balances of at least £3.1m for 2013/14 having regard to the outcome of the financial risk assessment  ...  view the full minutes text for item 10