Issue - meetings

(Cabinet Member with Special Responsibility Councillor Whitehead)

Report of Chief Financial Officer  (report published on 3 February 2022)

(Cabinet Member with Special Responsibility Councillor Whitehead)

Cabinet received a report from the Chief Finance Officer that provided information on the Council’s latest General Fund Revenue budget proposals for 2022/23, the resulting Council Tax requirement and the Section 151 Officer’s statement on the adequacy of reserves. The report addressed the actions required to complete the budget setting process for 2022/23, and for updating the Council’s associated financial strategy

and sought Cabinet’s approval and recommendations to Full Council.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

Revenue Budget

Council may adjust its revenue budget proposals, so long as the overall budget for 2022/23 balances and fits with the proposed Council Tax level.

Other Budget Framework Matters (Reserves and Provisions)

Given known commitments, risks and Council Tax restrictions there is little flexibility in financial terms, but Council could consider different budget strategies to be appraised for future years, or alternative arrangements for approving the use of various reserves, or different virement and/or carry forward limits. Overall, however, previous arrangements have worked reasonably well, and so no other fundamental changes are proposed.

Section 151 Officer’s Comments and Advice

Council is required to note this formally in the minutes of the meeting, hence it is reflected in the recommendations.

Depending on the nature of any alternative proposals put forward, Officers may need time to assess the risks and implications. This is to ensure that relevant considerations are taken into account, to support informed and lawful decision making.

Revenue Budget 2022/23 and Reserves Position

To agree the recommendations as presented as the proposals to be put forward by Cabinet should fit with any external constraints and the budgetary framework already approved. The recommendations as set out meet these requirements; the detailed supporting budget proposals are then a matter for Members.

Councillor Whitehead proposed, seconded by Councillor Hamilton-Cox:-

“That the recommendations, as set out in the report, be approved.”

Councillors then voted:-

Resolved unanimously:

(1)             That Cabinet recommends the following for approval to Budget Council:

· The 2022/23 General Fund Net Revenue Budget and resulting Council Tax Requirement excluding parish precepts (Appendix A to the report) and supporting budget proposals (Appendix B to the report).

· The Section 151 Officer’s statement on the adequacy of reserves and advice that the minimum level of balances remains at £3.5M, subject to annual review.

· the resulting position on reserves (Appendix C to the report).

· the updated position on budget transfers (Appendix D to the report)

(2)        That the Finance Portfolio Holder be given delegated authority to finalise the General Fund Revenue budget 2022/23 as updated for Cabinet’s final budget proposals, and outcomes of the Final Local Government Settlement for referral on to Council.

Officer responsible for effecting the decision:

Chief Finance Officer

Reasons for making the decision:

The budget framework in general sets out a financial plan for achieving the Council’s corporate priorities which incorporate the above cross cutting themes. The decision enables Cabinet to make recommendations back to  ...  view the full minutes text for item 77