Decision details

Cabinet considered report 69/11 of the head of finance.  This contained the draft revenue budget for 2012/13, the medium term financial plan, the capital programme to 2016/17, and the amended version of the chief finance officer’s report on the robustness of the estimates and the adequacy of the council’s financial reserves.  The Cabinet was asked to consider the report and recommend the budget to Council. 

The chairman invited Councillor Jim Halliday to ask his question.  Councillor Halliday asked if the chairman was content with the level of response to the budget consultation, and if not, would he consider changing the procedure?  Councillor Halliday also asked which parts of the budget had been amended following the budget consultation. 

The chairman reported that a wider engagement on the budget proposals might be desirable and he would keep this under review.  He was pleased with the budget proposal.  This froze council tax, protected services, and made savings.  More money was available for the information advice centres in Abingdon and Wantage, there was an increase in the community grants fund, and there were funds available to assist open market homebuyers.  As for the new homes bonus, in 2012/13 this would be allocated to reserves and might be used to support two-hours’ free car parking from 2014/15 only.  Later in 2012, Cabinet would consider a policy on the use of the new homes bonus.  Finally, the chairman welcomed the county council’s decision to take over the management of the dial-a-ride scheme.  This had saved this council £30,000, which was allocated to grants. 

RECOMMEND to Council to:

(a)               approve the medium term financial plan to 2016/17 as set out in appendix A to report 69/11;

(b)               set the revenue budget for 2012/13 at £10,744,216, as set out in appendix A1 to report 69/11;

(c)               approve the capital programme for 2012/13 to 2016/17 set out in appendix E and the capital growth bids as set out in appendix F, both to report 69/11;

(d)               set the council’s prudential limits as listed in appendix G to report 69/11; and

RESOLVED

(e)       to authorise the cabinet member for finance to make minor adjustments to the budget report to Council and the prudential indicators, in conjunction with the head of finance, should they prove necessary prior to its submission to Council on 22 February 2012.