Agenda item

Report of Head of Finance

Summary

The Council is required to produce a balanced budget for 2011/12 as the basis for calculating its level of Council Tax.  It has to base that budget on its plans for service delivery during the year, recognising any changes in service demand that may arise in future years.  The first draft was reported to the December 6 2010 Executive meeting and a second draft to the January 10 2011 Executive meeting.  The information has now been updated to reflect changes since then and, subject to any further changes Members may wish to include tonight, this final draft will be used to prepare a final budget proposal to be presented to full Council on 21 February 2011. 

Recommendations

The Executive is recommended:

(1)               To approve the changes to the draft budget since 10 January 2011 and consider the draft revenue budget (detailed in Appendix 1) in the context of the Council’s service objectives and strategic priorities.

(2)               To approve the surplus of £9,149 be transferred to general fund balances to enable a balanced budget.

(3)               To recommend to Full Council a Council tax freeze or amend the proposals contained within this report to recommend a different level of Council Tax.

(4)               To delegate authority to the Head of Finance, in consultation with the Portfolio Holder for Resources and Communication, to amend the contributions to or from general fund balances to allow the Council Tax increase to remain at the level recommended by Executive to full council following the announcement of the final settlement figures.

(5)               To agree the proposed 2011/12 capital programme (detailed in Appendix 2).

(6)               To note the review of earmarked revenue reserves undertaken by the Portfolio Holder of Resources and Communication and approve  re-allocation between various earmarked reserves and creation of 2 new reserves. (detailed in Appendix 3).

(7)               That the draft corporate plan and public pledges be endorsed and to delegate authority to the interim Chief Executive in consultation with the Leader of the Council to make any minor amendments to the plan or pledges as required. (detailed in Appendix 4).

(8)               To note the 2011/12 Corporate Improvement Plan (detailed in Appendix 5).

(9)               To note the latest MTFS financial forecast is currently being refreshed and will be part of the budget book.

(10)          To request officers to produce the formal 2011/12 budget book on the basis of Appendices 1-4.

(11)          To Recommend, subject to any further changes Members may wish to include tonight, the updated draft for adoption by the Council on 21 February 2011 (as a key decision).

Recommendations Approved

The Head of Finance submitted a report which provided the third and final opportunity for the Executive to shape and refine the interaction between corporate service plans and financial matters before the final budget is presented to full Council on 21 February 2011.

The first draft was reported to the December 6 2010 Executive meeting and a second draft to the January 10 2011 Executive meeting. The information has now been updated to reflect changes since then and, subject to any further changes Members may wish to include tonight, this final draft will be used to prepare a final budget proposal to be presented to full Council on 21 February 2011. 

Resolved

(1)               That the changes to the draft budget since 10 January 2011 and consider the draft revenue budget as set out in the annex to the minutes (as set out in the minute book) in the context of the Council’s service objectives and strategic priorities be approved.

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(2)               That the surplus of £9,149 be transferred to general fund balances to enable a balanced budget be approved.

(3)               That a Council tax freeze be recommended to full Council.

(4)               That authority be delegated to the Head of Finance, in consultation with the Portfolio Holder for Resources and Communication, to amend the contributions to or from general fund balances to allow the Council Tax increase to remain at the level recommended by Executive to full Council following the announcement of the final settlement figures.

(5)               That the proposed 2011/12 capital programme as set out in the annex to the minutes (as set out in the minute book) be agreed.

(6)               That the review of earmarked revenue reserves undertaken by the Portfolio Holder of Resources and Communication be noted and the re-allocation between various earmarked reserves and creation of 2 new reserves be approved as set out in the annex to these minutes (as set out in the minute book).

(7)               That the draft corporate plan and public pledges as set out in the annex to these minutes (as set out in the minute book) be endorsed and that authority be delegated to the interim Chief Executive in consultation with the Leader of the Council to make any minor amendments to the plan or pledges as required.

(8)               That the 2011/12 Corporate Improvement Plan as set out in the annex to these minutes (as set out in the minute book) be noted.

(9)               That it be noted that the latest MTFS financial forecast is currently being refreshed and will be part of the budget book.

(10)          That officers be requested to produce the formal 2011/12 budget book on the basis of Appendices 1-4 to the report and attached as annexes to these minutes (as set out in the minute book).

(11)          That the updated Draft Budget 2011/12 be recommended for adoption by the Council on 21 February 2011 (as a key decision).

Reasons

The Council is required to produce a balanced budget for 2011/12 as the basis for calculating its level of Council Tax. It has to base that budget on its plans for service delivery during the year, recognising any changes in service demand that may arise in future years. 

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