Agenda item

To recommend to Council the capital and revenue budget proposals together with the capital strategy, prudential indicators, treasury management strategy, investment strategy and general fund medium term financial strategy and to approve the business plans.

The Committee considered the budget proposals and associated strategies with particular reference to notional capital charges and the amounts being drawn from reserves. The following comments were amongst those made:

·     Regarding the consultation, the Committee was informed that no changes had been to the budget as a result of the submissions. It was suggested that the number of respondents was disappointing but it was not a priority to spend heavily on the consultation as it could be predicted that the number of responses would be low.

·     There was concern of the number of rough sleepers across Nottinghamshire. It was stated that further resource would be designated through the committee process if necessary.

·      

RESOLVED that the business plans for the Council’s corporate priorities and support functions, subject to amendment as a result of any budget decisions still to be taken by Council recommended by the relevant policy committees.

RECOMMENDED to Council that:

1. The Housing Revenue Account budget as submitted be approved (appendix 3).

2. The General Fund revenue budgets as submitted be approved (appendix 4).

3. The capital submissions and priorities within them be approved (appendix 5).

4. The Interim Deputy Chief Executive be authorised to arrange the financing of the capital programme as necessary (appendix 5).

5. An amount of £25,000 be provided for a General Contingency in 2019/20 (appendix 5).

6. The council tax requirement for 2019/20 including special expenses (but excluding local precepting requirements) be £5,475,252 (appendix 4).

7. An amount of £350,720be withdrawn from the General Fund reserve in 2019/20 (appendix 4).

8. An amount of £264,325be withdrawn from General Fund non-earmarked reserves in 2019/20 (appendix 4).

9. The Capital Strategy be approved (appendix 6)

10.The Minimum Revenue Provision policy as set out be approved (appendix 7).

11.The treasury management strategy statement be approved (appendix 7).

12.The investments strategy be approved (appendix 8).

13.The General Fund Medium Term Financial Strategy be approved (appendix 9).