Issue - meetings

This report fulfils the statutory requirement to agree a budget for 2022/23, comprising both revenue and capital expenditure plans, and to set a Council Tax for the year.

The Council Tax recommendation as supported by the Financial Policy Panel is for an increase of £4.95 per annum (Band D property), an equivalent increase of 2.38%.

The Council gave consideration to its 2022/23 budget, comprising both revenue and capital expenditure plans and Council Tax amounts for each band of dwelling.  The report took account of the recommendations of the Community & Wellbeing, Environment & Safe Communities and Strategy & Resources Committees (appertaining to fees and charges, the revenue budget and capital programme).

In moving the recommendations of the Chief Finance Officer, the Chairman of the Strategy and Resources Committee, Councillor Colin Keane, made a statement to the Council on the budget for 2022/23 to which Councillors Kate Chinn and David Gulland responded.

Upon being put the motion to agree the recommendations of the report was CARRIED, there being 26 members in favour, 3 against and 2 abstaining as detailed below.

Accordingly, it was resolved:

(1)          That it be noted that, under delegated powers, the Chief Finance Officer calculated the amount of the Council Tax Base as 33,251.43 (Band ‘D’ equivalent properties) for the year 2022/23, in accordance with the Local Government Finance Act 1992, as amended (the “Act”).

(2)          That the following estimates recommended by the Policy Committees be approved:-

a.    The revised revenue estimates for the year 2021/22 and the revenue estimates for 2022/23.

b.    The capital programme for 2022/23 and the provisional programme for 2024 to 2027, as summarised in the capital strategy statement.

(3)          That the fees and charges recommended by the Policy Committees be approved for 2022/23.

(4)          That the Council Tax Requirement for the Council’s own purposes for 2022/23 is £7,089,537.

(5)          That the Council receives the budget risk assessment at Appendix 6 to the report and notes the conclusion of the Chief Finance Officer that these budget proposals are robust and sustainable as concluded in this report.

(6)          That the Council receives the Chief Finance Officer Statement on the Reserves as attached at Appendix 8 to the report.

(7)          That the Council agrees the Prudential Indicators and Authorised Limits for 2022/23 as set out in Appendix 11 to the report including:-

a.    Affordability Prudential Indicators.

b.    The actual and estimated Capital Financing Requirement.

c.    The estimated levels of borrowing and investment.

d.    The authorised and operational limits for external debt.

e.    The treasury management prudential indicators.

(8)          That the following amounts be calculated for the year 2022/23 in accordance with sections 31 to 36 of the Act:

a.    £57,560,657 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(2) of the Act.

b.    £50,471,120 being the aggregate of the amounts which the Council estimates for the items set out in section 31A(3) of the Act.

c.    £7,089,537 being the amount by which the aggregate at 8(a) above  exceeds the aggregate at 8(b) above, calculated by the Council, in accordance with section 31A(4) of the Act, as its Council Tax requirement for the year.

d.    £213.21 being the amount at 8(c) above divided by the amount at 1. above, calculated by the Council, in accordance with section 31(B) of the Act,  ...  view the full minutes text for item 39