Agenda item

Report of Cabinet

Councillor Whitehead, Cabinet Member for Finance and Resources, presented Cabinet’s final budget proposals to allow Council to complete its revenue budget setting for 2022/23. She responded to Councillors’ questions.

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

“(1)         That theGeneral FundRevenue Budgetof £21.254Mfor 2022/23be approved, resulting in a Council Tax Requirement of £10.176M, excluding parish precepts, and a Band D basic City Council tax rate of £241.95.

(2)          Thatthe supportingGeneral FundRevenue Budgetproposals beapproved, as summarised at Appendices A and B of the report.

(3)          That the budget transfer (virements and carry forwards) limits be approved as set out in Appendix D of the report.

(4)          ThatCouncil notesthe Section151 Officer’sadvice regardingrobustness of budget estimates, the adequacy of reserves and balances, specifically the advice thattheminimumlevelofbalancesberetained at£3.5M,toprovideforaddeduncertainty.”

There was a short debate, during which Councillor Gardiner asked Councillor Whitehead if she would agree to set up a new financial committee for the next twelve months comprising of the Chief Executive, Section 151 Officer, Financial Director, Portfolio holder for finance and four main group leaders.

At the conclusion of the debate, Councillor Whitehead addressed this request in her summing up. She invited Councillor Gardiner to join the Financial Resilience Group (FRG) which had been set up a few years ago and was open to members of all parties. Currently there were approximately ten members meeting quarterly to discuss issues of financial resilience. Councillor Whitehead said that Councillor Gardiner would be very welcome to attend and suggest items for the agenda. The FRG was a body where all parties could come together to discuss financial issues.

A recorded vote was then taken on the proposition when the votes were recorded as follows:

For the proposition: Councillors Anderson, Anderton, Askari, Bannon, Biddulph, Black, Boyd-Power, Brookes, Bryning, Dant, Dennison, Dowding, Firth, Frea, Greenwell, Hamilton-Cox, Hanson, Hartley, Heath, Hunter, Jackson (Caroline), Jenkins, Knight (Geoff), Knight (Sarah), Lewis, Matthews, Penny, Pritchard, Sinclair, Stubbins, Taylor, Thornberry, Whearty, Whitaker, Whitehead, Wood, Young (37).

Against the proposition: None.

Abstentions: Councillors Budden, Cleet, Gardiner, Guilding, Morris, Thomas, Wild and Yates (8).

Resolved:

(1)          Thatthe GeneralFund RevenueBudget of£21.254M for2022/23 beapproved, resulting in a Council Tax Requirement of £10.176M, excluding parish precepts, and a Band D basic City Council tax rate of £241.95.

(2)          Thatthe supportingGeneral FundRevenue Budgetproposals beapproved, as summarised at Appendices A and B of the report.

(3)          That the budget transfer (virements and carry forwards) limits be approved as set out in Appendix D of the report.

(4)          That Councilnotes theSection 151Officer’s adviceregarding robustnessof budget estimates, the adequacy of reserves and balances, specifically the advicethattheminimumlevelofbalancesberetained at£3.5M,toprovideforaddeduncertainty.