Agenda item

Report of Executive Director Finance and Governance (interim)

Purpose of report

The Business Plan and Summary Medium Term Financial Strategy are presented as an integrated report. This demonstrates the Councils strategic approach to aligning its resource to the delivery of Council’s priorities.

This report details the Business Plan 2019/20 and the Council’s Medium Term Financial Strategy (MTFS) for 2019/20 to 2023/24 prior to final approval by full Council in February 2019.

Recommendations

The meeting is recommended:

1.1. To consider and recommend to Council approval of the Business Plan set out in Appendix 1

1.2. To note the Risk Register contained at Appendix 2

1.3. To consider and recommend to Council an increase in the level of Council Tax for Cherwell District Council of £5 for 2019/20

1.4. To consider and recommend to Council approval of the Medium Term Financial Strategy (MTFS), Revenue Budget 2019/20 and Capital Programme including recommending the growth and savings proposals included at Appendix 9

1.5. To consider and recommend to Council a minimum level of General Fund reserves of £2m

1.6. To consider and recommend to Council that authority be delegated to the Chief Finance Officer in consultation with the Lead Member for Finance & Governance, and where appropriate the relevant Director and Lead Member to:

· Transfer monies to/from earmarked reserves should that become necessary during the financial year.

· Update prudential indicators in both the Prudential Indicators Report and Treasury Management Strategy Report to Council, for any budget changes that impact on these.

1.7. To consider and recommend to Council that the Fees & Charges set out in Appendix 7 be approved.

1.8. To consider and recommend to Council that the Treasury Management Strategy be approved, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2019/20.

1.9. To consider and recommend to Council that authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 25 February 2019, including changes related to the finalisation of the national Finance Settlement and any associated changes to Parish Precepts and Council resulting from those changes.

1.10. To note the contents of the Section 25 report from the Chief Finance Officer in relation to the robustness of estimates and adequacy of reserves.

Resolved

(1) That, having given due consideration, Full Council be recommended to approve the Business Plan (annex to the Minutes as set out in the Minute Book).

(2) That the Risk Register (annex to the Minutes as set out in the Minute Book) be noted.

(3) That, having given due consideration, Full Council be recommended to agree an increase in the level of Council Tax for Cherwell District Council of £5 for 2019/20.

(4) That, having given due consideration, Full Council be recommended to approved the Medium Term Financial Strategy (MTFS), Revenue Budget 2019/20 and Capital Programme including recommending the growth and savings proposals (annex to the Minutes as set out in the Minute Book).

(5) That, having given due consideration, Full Council be recommended to approve a minimum level of General Fund reserves of £2m.

(6) That, having given due consideration, Full Council be recommended to delegate authority to the Chief Finance Officer, in consultation with the Lead Member for Financial Management & Governance, and where appropriate the relevant Director and Lead Member to:

· Transfer monies to/from earmarked reserves should that become necessary during the financial year.

· Update prudential indicators in both the Prudential Indicators Report and Treasury Management Strategy Report to Council, for any budget changes that impact on these.

(7) That, having given due consideration, Full Council be recommended to approve the Fees & Charges (annex to the Minutes as set out in the Minute Book).

(8) That, having given due consideration, Full Council be recommended to approve the Treasury Management Strategy be approved, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2019/20.

(9) That, having given due consideration, Full Council be recommended to delegate authority to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 25 February 2019, including changes related to the finalisation of the national Finance Settlement and any associated changes to Parish Precepts and Council resulting from those changes.

(10) That the contents of the Section 25 report from the Chief Finance Officer in relation to the robustness of estimates and adequacy of reserves be noted.

The Executive Director Finance and Governance (interim) submitted a report which detailed the Business Plan 2019/20 and the Council’s Medium Term Financial Strategy (MTFS) for 2019/20 to 2023/24 prior to final approval by full Council in February 2019.

The Business Plan and Summary Medium Term Financial Strategy were presented as an integrated report which demonstrated the Councils strategic approach to aligning its resource to the delivery of Council’s priorities.