Agenda item

To consider the head of finance’s report. 

Cabinet considered the head of finance’s report on the revenue budget 2019/20, and the capital programme to 2023/24. 

David Turner addressed Cabinet, expressing concern at the loss of New Homes Bonus funding and hoped that solutions could be found for the future of the council. 

The Cabinet member for finance introduced the report, and thanked officers for preparing the budget.  The budget included some revenue growth proposals, set out the medium term financial plan, and proposed a council tax increase of £5 for Band D properties.  Car parking charges might be reviewed mid-year, as would the councillor grants scheme; £0.5 million had been allocated to grants for 2019/20. 

RECOMMENDED to Council to:

(a)      set the revenue budget for 2019/20 as set out in appendix A.1 to the head of finance’s report to Cabinet on 31 January 2019;

(b)      approve the capital programme for 2019/20 to 2023/24 as set out in appendix D.1 to the report, together with the capital programme changes as set out in appendix D.2 of the report;

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

(d)      approve the medium term financial plan to 2023/24 as set out in appendix F to the report;

(e)      allocate £500,000 to fund the Communities Capital and Revenue grant scheme; and

(f)        ask officers to review the Medium Term Financial Strategy following the 2019 spending review and Ministry of Housing, Communities and Local Government announcements of changes to the council’s future funding streams. 

RESOLVED to:

(g)      agree that the cabinet member for finance, in conjunction with the head of finance, may make minor adjustments to the head of finance’s report and the prudential indicators, should they prove necessary prior to its submission to Council on 14 February 2019; and

(h)      agree to maintain car park fees and charges at current levels.