Decision details


Budget Setting for 2022/23 and the Medium-Term Financial Strategy up to 2026/27

Decision Maker: Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To consider and recommend to Full Council the Executive’s proposed Business Plan and related revenue budget for 2022-2023, medium term financial strategy to 2026/27, capital programme to 2026/27 and all supporting policies, strategies and information

Decision:

Resolved

 

(1)          That the proposed Fees and Charges for 2022/23 (Annex to the Minutes as set out in the Minute Book) be approved.

 

(2)          That the equality impact assessment of the Budget be noted.

 

(3)          That report on Responses to the Budget Consultation be noted.

 

(4)          That the Reserves Policy and medium-term reserves plan  (Annexes to the Minutes as set out in the Minute Book) be approved.

 

(5)          That authority be delegated to the Section 151 Officer (S151), following consultation with the Leader of the Council and Lead Member for Finance and Governance, to complete the legal Council Tax calculations once all the information required has been received.

 

(6)          That authority be delegated to the S151, following consultation with the Leader of the Council and Lead Member for Finance and Governance, to make appropriate changes to the Executive’s proposed budget to Council.

 

(7)          That Full Council be recommended to approve the Business Plan.

 

(8)          That, in relation to the Revenue Budget and Medium-Term Financial Strategy (MTFS), Full Council be recommended to approve:

                      i.        That the net revenue budget for the financial year commencing on 1 April 2022 be approved.

                    ii.        That the MTFS and Revenue Budget 2022/23, including the Savings Proposals, and Pressures, be approved.

 

(9)          That Full Council be recommended to agree an increase in the Basic Amount of Council Tax for Cherwell District Council for the financial year beginning on 1 April 2022 of £5, resulting in a Band D charge of £143.50 per annum.

 

(10)       That, in relation to the Capital Programme and related strategies, Full Council  be recommended to approve:

                    i.        The Capital Bids and Capital Programme.

                   ii.        The Capital and Investment Strategy.

                 iii.        The Treasury Management Strategy, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2022/23.

                 iv.        The Property Investment Strategy.

 

(11)       That, in relation to reserves, Full Council be recommended to approve a minimum level of General Balances of £6m.

 

 

Reason Key: Significant Expenditure or Savings and effect on communities in two or more wards;

Corporate Priorities : An enterprising economy with strong and vibrant local centres; Healthy, resilient and engaged communities; Housing that meets your needs; Supporting Environmental Sustainability;

Reason No Public Access: No

Declarations: None

Subject to Urgent Proceedings: No

Contact: Michael Furness, Assistant Director of Finance & S151 Officer Email: michael.furness@cherwell-dc.gov.uk Tel: 01295 221845.

Report author: Michael Furness

Publication date: 08/02/2022

Date of decision: 07/02/2022

Decided at meeting: 07/02/2022 - Executive

Effective from: 12/02/2022

Accompanying Documents: