Issue - meetings

To consider the head of finance’s report. 

Cabinet considered the interim head of finance’s report on the revenue budget 2020/21 and the capital programme to 2024/25. 

The Cabinet member for finance reported that Scrutiny Committee had considered the budget proposals but had made no comment.  Cabinet was limited to a £5 increase in council tax per Band D property, and had to use reserves to balance its budget for the medium term financial plan.  The budget proposal included the creation of a transformation budget to investigate revenue income generation options during 2020/21.  The proposals also included funding for the climate emergency year one work programme.  Car parking fees and charges would remain the same, pending a review.  There would need to be careful budget monitoring during the year. 

Cabinet thanked officers for their work on the budget. 

RESOLVED to:

(a)      agree to maintain car park fees and charges at current levels, pending a review of fees and charges later in the year;

(b)      agree that the interim head of finance may make minor adjustments to his report and the prudential indicators, in consultation with the Cabinet member for finance, should they prove necessary prior to its submission to Council on 12 February 2020; 

RECOMMENDED to Council to:

(c)       set the revenue budget for 2020/21 as set out in appendix A.1 to the interim head of finance’s report to Cabinet on 3 February 2020;

(d)      approve the capital programme for 2020/21 to 2024/25 as set out in appendix D.1 to the report, together with the capital growth bids set out in appendix D.3 of the report;

(e)      set the council’s prudential limits as listed in appendix E to the report; and

(f)        approve the medium-term financial plan to 2024/25 as set out in appendix F.1 to the report.