Agenda item

Report of Head of Finance and Procurement

Summary

The Council is required to produce a balanced budget for 2012/13 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 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 27 February 2012. 

Recommendations

The Executive is recommended to:

(1)               Approve the changes to the draft budget since 6 December 2011 and consider the draft revenue budget (detailed in Appendix 1) in the context of the Council’s service objectives and strategic priorities.

(2)               Approve the surplus of £3,299 be transferred to general fund balances to enable a balanced budget.

(3)               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)               Delegate authority to the Head of Finance and Procurement, in consultation with the Lead Member Financial Management and Director of Resources 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)               Agree the proposed 2012/13 capital programme (detailed in Appendix 2).

(6)               Note the review of earmarked revenue reserves undertaken by the Lead Member Financial Management , the Head of Finance and Procurement and the Director of Resources and approve  re-allocation between various earmarked reserves and creation of one new reserve. (detailed in Appendix 4).

(7)               Endorse the draft corporate plan and public pledges and to delegate authority to the 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 5 & 6).

(8)               Note the 2012/13 Business Plan and Budget Equality Impact Assessment (detailed in Appendix 7)

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

(10)          Request officers to produce the formal 2012/13 budget book on the basis of Appendices 1-7.

(11)          Approve the schedule of Election Fees and Charges as (detailed in Appendix 8.)

(12)          Recommend ,subject to any further changes Members may wish to include tonight, the updated draft for adoption by the Council on 27 February 2012 (as a key decision).

Recommendations agreed.

The Head of Finance and Procurement submitted a report which provided the second and final opportunity for the Executive to shape and refine the interaction between corporate service plans and financial matters before the final budget would be presented to full Council on 27 February 2012.

In presenting the draft budget, the Lead Member for Financial Management reported that whilst the current economic climate presented significant challenges, a balance budget for 2012/13 had been prepared without the need to raise council tax.

The Lead Member for Change advised that there would be a minor update to Cherwell District Council Performance Pledges 2012/13 in light of the end of the existing insulation scheme. This would be reflected in the final version of the Pledges that would be presented to full Council on 27 February 2012.

The Executive commended the Lead Member for Finance and Finance Team for their hard work in producing a balance budget for 2012/13.

Resolved

(1)               That the changes to the draft budget since 6 December 2011 be approved and the draft revenue budget (as set out as an annex to the Minutes in the Minute Book) in the context of the Council’s service objectives and strategic priorities be noted.

(2)               That the transfer of the surplus of £3,299 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 and Procurement, in consultation with the Lead Member for Financial Management and Director of Resources, 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 2012/13 capital programme (as set out as an annex to the Minutes in the Minute Book) be approved.

(6)               That the review of earmarked revenue reserves undertaken by the Lead Member for Financial Management, the Head of Finance and Procurement and the Director of Resources be noted and re-allocation between various earmarked reserves and creation of one new reserve. (as set out as an annex to the Minutes in the Minute Book) be approved.

(7)               That the draft corporate plan and public pledges (as set out as an annex to the Minutes in the Minute Book) be endorsed and authority be delegated to the 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 2012/13 Business Plan and Budget Equality Impact Assessment be noted (detailed in Appendix 7)

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

(10)          That officers be requested to produce the formal 2012/13 budget book on the basis of Appendices 1-7 (as set out as an annex to the Minutes in the Minute Book).

(11)          That the schedule of Election Fees and Charges be approved (as set out as an annex to the Minutes in the Minute Book).

(12)          That the updated Draft Budget 2012/13 be recommended for adoption by the Council on 27 February 2012 (as a key decision).