Agenda item - Medium Term Financial Plan 2018/19 - 2021/22

Agenda item

Medium Term Financial Plan 2018/19 - 2021/22

Minutes:

The Executive Director, Finance and Resources introduced the report and explained to Members that it was similar to that which had been considered at the Cabinet meeting on 7th February, with a small number of changes.  These included the unexpected withdrawal of funding of £25k by Worcestershire County Council (WCC) in respect of reception demand. As this had been such short notice WCC had agreed to pay for April/May but following that it would be withdrawn.  The main change however was in respect of borrowing as detailed on page 16 of the additional papers.  Members were reminded that the £20m borrowing was in in respect of the Investment and Acquisition Strategy which had recently been agreed and there was a potential to borrow this over the next 4 years.  Similarly the income from that had been spread over a period with a break even return rate being used.  It was hope that this would be exceeded and if so would generate an additional £250k, but this could not be guaranteed.

 

In respect of the Council Tax resolutions, Members were informed that unfortunately the Council was reliant on receiving the information from the other preceptors and that the one Parish Council preceptor had sent the information in later than the deadline.  It was general that the resolutions were sent later than the main reports due to waiting for precepting bodies.

 

Following presentation of the report Members discussed the removal of funds from WCC in respect of the reception support provided.  It was explained that this included telephone enquiries and face to face visitors.  WCC have advised that officers should simply sign post in future.  However Members discussed that it was our responsibility to satisfactorily respond to any enquiries and the Portfolio holder confirmed that as a consequence of this he would be arranging for a record to be kept of contacts which were purely WCC based in order to have supporting data should the need arise to go back to WCC to discuss the issue further.

 

It was noted that there was a slight error in the number of the recommendations and it was agreed that these would be re-numbered 2.1. 4 a) and b).  It was agreed that as there had been a number of amendments made to the reports and these had also been issued as to follows there would be an adjournment at the Council meeting in order to allow members time to consider the reports and is necessary for the Executive Director, Finance and Resources to take them through these.

 

RECOMMENDED:

 

 

         2.1.1       that the additional income / efficiencies as attached at Appendix 1 be approved:

                                    2018/19 £ 580k

                                    2020/21 £ 53k

                                    2021/22 £272k

 

         2.1.2       that the unavoidable pressures as attached at Appendix 3 be approved:

                                    2018/19 £ 540k

                                    2019/20 £ 346k

                                    2020/21 £200k

                                    2021/22 £200k

                       

         2.1.3       that the Revenue bids as attached at Appendix 2 be approved:

                                    2018/19 £165k

                                    2019/20 £15k

                                    2020/21 £15k

                                    2021/22 £15k

 

         2.1.4(a)   that the Capital Programme bids ( to exclude the energy efficiency programme)  as attached at Appendix 4 be approved:

                                    2018/19 £1.293m

                                    2019/20 £999k

                                    2020/21 £1.940m

                                    2021/22 £1.245m

 

         2.1.4(b)  that the unavoidable Capital Bids in relation to the energy efficiency programme be approved:

                                    2018/19 £110k

                                    2019/20 £110k

 

         2.1.5       that the funding from balances be approved :

                                    2018/19 £ 9k

                                   

2.1.6       that the Increase of Council Tax by 2.99% (£6.29 pa)  per Band D equivalent for 2018/19 be approved

 

2.1.7       that the budget savings and pressures for 2018/19-2021/22 are subject to change due to the potential impact of changes to service delivery and the localisation of Business Rates together with any future changes to New Homes Bonus.

 

2.1.8       that following the decision at Council on 24th January 2018, the sum of £80k be made available from balances to fund potential Hardship cases in relation to Council Tax Support in 2018/19.

 

2.1.9       that the Council Tax resolutions for 2018/19 as attached at Appendix 5 be approved.

 

Supporting documents: