Agenda item

To consider the draft budget proposals and make a recommendation to the Council. 

The Executive considered report 104/10 of the head of finance.  This brought together all relevant information to allow the Executive to consider the revenue and capital budgets for 2011/12, an indicative capital programme to 2015/16, a medium term financial plan to 2015/16, and the prudential indicators.  The Executive was required to prepare the budget and recommend it to the Council. 

The report also set out the opinion of the chief finance officer on the adequacy of the council’s financial reserves.  He was satisfied that the overall level of reserves was adequate in relation to the proposed revenue budget and capital programme and that the budgets were sustainable. 

The portfolio holder reported that this had been a difficult year for the council due to government grant reductions and low investment income.  The aim was to build up reserves; the medium term financial plan showed how this would be done.  There had been some difficult decisions to take in preparing the draft budget but this had been achieved while protecting important services, bringing back community grants, and without increasing the Council Tax.  He reported that the draft budget before the Executive did not include funding for a second superloo.  Funding to retain the superloo at Grove would be added to the draft budget before it was submitted to the Council.  He thanked the Executive members and the officers for their help. 

In return the Executive thanked the portfolio holder and the officers for their work on the draft budget. 

The chair asked that the Leader of the Opposition made any proposed amendments to the budget available to all councillors at least 48 hours before the Council meeting on 23 February.  This was important to allow councillors to properly consider any amendments and allow an informed debate. 

RECOMMENDED

(a)       To recommend the Councilto:

(i)                 set the revenue budget for 2011/12 at £11,393,150, as set out in appendix 1 to report 104/10;

(ii)               approve the capital programme for 2011/12 to 2015/16, as set out in appendix 5 to the report, together with the capital growth bids set out in appendix 6;

(iii)             set the council’s Prudential Limits as listed in appendix 7;

(iv)              approve the medium term financial plan to 2015/16 as set out in appendix 2;

RESOLVED

(b)       To authorise the portfolio holder for finance, in conjunction with the head of finance, to make minor adjustments to the budget should this prove necessary prior to its submission to the Council on 23 February 2011; and

(c)        To request the Leader of the Opposition to make any amendments to the Executive’s budget proposals available to all councillors at least 48 hours before the Council meeting on 23 February.