Decision details

The Leader introduced the report of the Chief Officers Executive (previously circulated) requesting that consideration be given to the Medium Term Financial Plan (MTFP) for 2019/20 to 2022/23, including setting a budget and council tax increase for 2019/20, and a Capital Programme for 2019/20 to 2022/23, for consultation.

The submitted report stated that between the financial years 2010/11 and 2018/19 the Council had faced unprecedented financial challenges from reductions in public sector spending, which had meant an overall real terms decrease in government funding of £47.5M, anticipated to increase to £51M by 2022/23; this had resulted in the Council agreeing reductions in planned expenditure of over £57M leading to a reduction to date of 747 in the Council’s workforce; the report had been prepared before the Local Government Finance Settlement (LGFS) which was expected to be announced on 6 December; the Council undertook a significant consultation exercise in 2016, following an in-depth and detailed review of all services which resulted in the agreement of a Core Offer budget which allowed for a small futures fund allocated to discretionary services; although the Core Offer remained challenging, the Council agreed to use unallocated balances of £4.1M to invest in five areas which held great value to the community; and that the Council’s financial position was robust with a four year balanced MTFP.

In presenting the report the Leader stated that the figure detailed in paragraph 42 of the submitted report, was £856,000 and NOT £856M; the finance settlement had been delayed; this Council had one of the lowest rates of Council Tax in the region; and confirmed that the MTFP was deliverable.

Discussion ensued on the budget; the ambitions for the town; and the funding of social care and children’s services.

RESOLVED – That the Revenue MTFP as set out in Appendix 7 of the submitted report, and the proposed Capital Programme summarised in Appendix 8 of the submitted report, be approved for consultation, including:-

                          (i)    a Council tax increase of 2.99 per cent for 2018/19; and

                         (ii)    the Schedule of Charges, as set out in Appendix 3 of the submitted report

REASONS – (a)  The Council must set a budget for the next financial year.

(b)  To enable the Council to continue to plan services and finances over the medium term.

(c)  To ensure decisions can be made in a timely manner.