Issue - meetings

Report of the Cabinet Member for Resources updating the current strategy and seeking approval for consultation on Budget Proposals.

DECISION MADE: (CAB 19/20 25459)

On consideration of the report of the Cabinet Member for Resources, Cabinet agreed the following modified recommendations:

i)  Note the high level forecast for the General Fund for 2019/20 onwards and subsequent rebasing of budgets, ensuring budgets are on a sound and robust footing.

ii)  Note the pressures which have been included in the forecast which are set out in paragraphs 17 and 18.

iii)  Note the Executive’s initial investment and savings proposals put forward for conversation and consultation in Appendices 3 and 4.  Savings amount to a cumulative £29.5M by 2022/23, with a significant contribution from income generating initiatives. New investment under these proposals is estimated at around £14.0M in the revenue budget.

iv)  Note that the Executive’s budget proposals for consultation are based on the assumption that they will recommend a Council Tax increase of 1.99% to Full Council as per paragraph 21.

v)  To note the implications for the Capital Programme and to approve the additions to the capital programme as detailed in paragraph 26 to 28 and give approval to spend.

vi)  Note that the Executive’s initial savings set out in Appendices 3, with a clear emphasis on ways to generate income as a key part of ensuring a balanced budget.

vii)  Note the consultation on the Executive’s draft budget proposals will commence on 16th October 2019 and note the consultation proposals and methodology set out in paragraph 35.

viii)  Delegate authority to the Chief Financial Officer (CFO), following consultation with the Cabinet Member for Resources, to do anything necessary to give effect to the proposals contained in this report.