Agenda item

Purpose: to recommend a budget to council

Cabinet considered the report of the Head of Finance that brought together all relevant information to allow Cabinet to recommend to Council a revenue budget for 2014/15 and a capital programme to 2018/19.  Mr D Dodds, Cabinet member for finance, advised that the period of the capital programme was to 2018/19, not 2017/18 as set out on the agenda.

Cabinet agreed the recommendations to deliver £1.2 million of savings in the base budget and would deliver a 2.5 per cent reduction in council tax, without any cuts in services and providing good value for money.

RESOLVED:

a.      to recommend Council to:

i.        set the revenue budget for 2014/15 as set out in appendix A.1 to the report of the Head of Finance to Cabinet on 13 February 2014;

ii.      approve the capital programme for 2014/15 to 2018/19 as set out in appendix D.1 to the report of the head of finance to Cabinet on 13 February 2014, together with the capital growth bids set out in appendix D.2 to the report of the Head of Finance to Cabinet on 13 February 2014;

iii.    set the council’s prudential limits as listed in appendix E to the report of the Head of Finance to Cabinet on 13 February 2014;

iv.     approve the medium term financial plan to 2018/19 as set out in appendix F to the report of the Head of Finance to Cabinet on 13 February 2014

v.       allocate £1,000,000 to fund the Communities Capital Grant Scheme.

b.      that the Cabinet member for finance, in conjunction with the leader, may make minor adjustments to this report and the prudential indicators, in conjunction with the head of finance, should they prove necessary prior to its submission to Council on 20 February 2014.