Agenda item

General Fund Revenue and Capital Budgets 2020/2021

  Copy herewith

Decision:

Cabinet agreed:

 

2.1     That the feedback from consultation with the public, organisations and the Overview and Scrutiny and Audit Committees be considered and welcomed (detailed at appendices 9, 10 and 11).

 

2.2     That the changes to the proposed budget (detailed at paragraph 3.2.6), in light of technical adjustments and the provisional local government funding settlement, be agreed.

 

2.3      That a general fund revenue budget for 2020/21 of £27.770m (excluding parishes, or £29.006m including parish precepts) be recommended to Council for its own purposes (detailed in paragraph 3.2.4 and appendices 1 and 2).

 

2.4      That the Council be recommended to increase the council tax for its own purposes (excluding county, police, fire and parish precepts) by £5.00 (2.21%) per year per band D property for 2020/21.

 

2.5     That the Council be recommended to approve the general fund capital programme and proposed financing for 2020/21, including the inclusion of schemes in the development pool, as set out in appendix 4.

 

2.6       That Council be recommended to confirm a minimum level of general fund balances for 2020/21 of £3.0m that reflects the risks being faced by the Council, with a prudent level of £4.0m included in the budget setting, and also note the position on earmarked reserves (appendix 7).

 

2.7       That authority be delegated to the Chief Finance Officer in consultation with the Cabinet Member for Finance, and where appropriate the relevant Head of Service and Cabinet Member to:

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

·         Update prudential indicators in both the prudential indicators report and treasury strategy report to Council, for any budget changes that impact on these.

 

2.8       That the draft fees and charges set out in appendix 8 be approved, including immediate implementation where appropriate.

 

2.9       That Council be recommended to approve the treasury management strategy (and associated appendices) for 2020/21 at appendix 5 of this report.

 

2.10    That authority be delegated to the Council’s Chief Finance Officer, in liaison with the Cabinet Member for Finance, to make any temporary changes needed to the Council’s borrowing and investment strategy to enable the authority to meet its obligations.

 

2.11    That authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 24 February 2020, including changes to the finance settlement and changes relating to council tax precepts set by other precepting bodies.

 

 

 

Minutes:

Councillor Eldred as the relevant Cabinet Member stated that he was privileged to be able to present the last budget for the Council.  Difficult decisions had had to be made, and he thanked Cabinet colleagues and officers for their efforts in achieving a balanced budget.  Council tax would be increased by £5 for a Band D property.  There was also significant investment for the museum and Vulcan Works, which would hopefully result in increased tourism for Northampton.  The key changes were outlined at 3.25 and 3.26 in the report.

 

Councillor Larratt was pleased to note the provision for investment in assets such as footbridges and monuments.

 

RESOLVED:

 

2.1     That the feedback from consultation with the public, organisations and the Overview and Scrutiny and Audit Committees be considered and welcomed (detailed at appendices 9, 10 and 11).

 

2.2     That the changes to the proposed budget (detailed at paragraph 3.2.6), in light of technical adjustments and the provisional local government funding settlement, be agreed.

 

2.3     That a general fund revenue budget for 2020/21 of £27.770m (excluding parishes, or £29.006m including parish precepts) be recommended to Council for its own purposes (detailed in paragraph 3.2.4 and appendices 1 and 2).

 

2.4     That the Council be recommended to increase the council tax for its own purposes (excluding county, police, fire and parish precepts) by £5.00 (2.21%) per year per band D property for 2020/21.

 

2.5     That the Council be recommended to approve the general fund capital programme and proposed financing for 2020/21, including the inclusion of schemes in the development pool, as set out in appendix 4.

 

2.6     That Council be recommended to confirm a minimum level of general fund balances for 2020/21 of £3.0m that reflects the risks being faced by the Council, with a prudent level of £4.0m included in the budget setting, and also note the position on earmarked reserves (appendix 7).

 

2.7       That authority be delegated to the Chief Finance Officer in consultation with the Cabinet Member for Finance, and where appropriate the relevant Head of Service and Cabinet Member to:

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

·         Update prudential indicators in both the prudential indicators report and treasury strategy report to Council, for any budget changes that impact on these.

 

2.8      That the draft fees and charges set out in appendix 8 be approved, including immediate implementation where appropriate.

 

2.9       That Council be recommended to approve the treasury management strategy (and associated appendices) for 2020/21 at appendix 5 of this report.

 

2.10    That authority be delegated to the Council’s Chief Finance Officer, in liaison with the Cabinet Member for Finance, to make any temporary changes needed to the Council’s borrowing and investment strategy to enable the authority to meet its obligations.

 

2.11    That authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 24 February 2020, including changes to the finance settlement and changes relating to council tax precepts set by other precepting bodies.

 

 

 

Supporting documents: