Agenda item

To consider the head of finance’s report. 

SEE SEPARATE PACK

Cabinet considered the head of finance’s report.  This brought together all relevant information to allow Cabinet to recommend to Council a revenue budget for 2018/19 and a capital programme for 2018/19 to 2022/23.  The Medium Term Financial Plan was included, which provided details of the forward budget model for the next five years.  The report also recommended the prudential indicators to be set by the Council in accordance with ‘the Prudential Code’, introduced as part of the Local Government Act 2003. 

The Scrutiny Committee had reviewed the budget report and had supported it.  Cabinet considered that the budget showed prudence and careful financial planning, while keeping council tax low. 

RECOMMENDED: to Council to

(a)      set the revenue budget for 2018/19 as set out in appendix A.1 to the head of finance’s report to Cabinet on 12 February 2018;

(b)      approve the capital programme for 2018/19 to 2022/23 as set out in appendix D.1 to the head of finance’s report, together with the capital growth bids set out in appendix D.2 of the report;

(c)       set the council’s prudential limits as listed in appendix E to the head of finance’s report,

(d)      approve the medium term financial plan to 2022/23 as set out in appendix F.1 to the head of finance’s report;

(e)      allocate £1,000,000 to fund the Communities Capital and Revenue Grant Scheme;

RESOLVED: to

(f)        maintain car park fees and charges at current levels; and

(g)      agree that the Cabinet member for finance may make minor adjustments to this report and the prudential indicators, in conjunction with the head of finance, should they prove necessary following the publication of the final local government settlement and prior to its submission to Council on 15 February 2018.