Issue - items at meetings - Budget and Business Plan 2020/2021

Report of Director of Finance

** Please note this report will follow as it is currently being reviewed and finalised **

Resolved

(1) That the proposed Fees and Charges for 2021/22 (Annex to the Minutes as set out in the Minute Book) be approved.

(2) That the equality impact assessment of the Budget (Annex to the Minutes as set out in the Minute Book) be noted.

(3) That the Report on Responses to the Budget Consultation (Annex to the Minutes as set out in the Minute Book) be noted.

(4) That the Reserves Policy (Annex to the Minutes as set out in the Minute Book) and creation of new reserves (as described in the Annex to the Minutes as set out in the Minute Book) be approved.

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

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

(7) That Council be recommended to approve the Business Plan (Annex to the Minutes as set out in the Minute Book).

(8) That, in relation to the Revenue Budget and Medium-Term Financial Strategy (MTFS), subject to any revision needed in light of the ongoing and further planned consultations and equalities assessments on individual savings proposals, Council be recommended to approve that the net revenue budget for the financial year commencing on 1 April 2021 of £22.415m, including the budget allocations to the Directorates of the Council, as set out in the Annex to the Minutes, be approved

(9) That Council be recommended to agree the MTFS and Revenue Budget 2021/22, including the Savings Proposals, Pressures and the Revenue Impacts of Capital Schemes (Annexes to the Minutes as set out in the Minute Book).

(10) The 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 2021 of £5, resulting in a Band D charge of £138.50 per annum.

(11) That Council be recommended to agree the Capital Bids and Capital Programme (Annexes to the Minutes as set out in the Minute Book).

(12) The Council be recommended to agree the Capital and Investment Strategy (Annexes to the Minutes as set out in the Minute Book).

(13) That Council be recommended to agree the Treasury Management Strategy, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2021/22 (Annex to the Minutes as set out in the Minute Book).

(14) That, in relation to reserves, Council be recommended to approve a minimum level of General Balances of £5m.

(15) That Council be recommended to approve the Par Policy Statement (Annex to the Minutes as set out in the Minute Book) in fulfilment of the requirements of Sections 38-43 of the Localism Act 2011.

The Director of Finance submitted a report which was the culmination of the Budget and Business Planning process for 2021/22 to 2025/26 and set out the Executive’s proposed Business Plan and related revenue budget for 2021/22, medium term financial strategy to 2025/26, capital programme to 2025/26 and all supporting policies, strategies and information.

The report also detailed the Calculations for the amounts of Council Tax for 2021/22 and the setting of Council Tax for 2021/22.

On behalf of Executive, the Chairman thanked Finance Officers for putting together the papers. The Chairman also thanked all residents who had responded to the consultation commenting that action had been taken where possible in response to the comments.