Issue - meetings

(a)          (Finance Portfolio Holder) To consider the attached report; and

(b)          To hold a recorded vote on the recommendations contained within the report, in accordance with the Council Procedure Rules V3 ‘Voting on Budget/Council Tax’  which directs Members to comply with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, immediately after any vote is taken at a budget decision meeting there must be recorded in the minutes of the proceedings of that meeting the names of the persons who cast a vote for the decision or against the decision or who abstained from voting.

“Budget decision” means a meeting at which:

(a)        a calculation is made (whether originally or by way of substitute) in accordance with any of the Sections 31A, 31B, 34 to 36A, 42A, 42B, 45 to 49, 52ZF, 52ZJ of the Local Government Finance Act 1992, as amended; or

(b)        a precept is issued under Chapter 4 of Part 1 of that Act,

and includes a meeting where making the calculation or issuing the precept as the case may be was included as an item of business on the agenda for that meeting.

References to a vote are references to a vote not only on the substantive budget motions agreeing the budget, setting council taxes or issuing precepts, but also on any amendments proposed at the meeting.

Mover: Councillor C Whitbread on behalf of Finance Portfolio Holder

Councillor C Whitbread presented a report on the Budget and Council Tax Declarations 2017/18.

Councillor S Stavrou requested that Members thanks for an excellent budget to the Director of Resources, Assistant Director (Accountancy), Finance Officers and Portfolio Holder for Finance be noted.

Amendment moved by Councillor J Knapman and seconded by Councillor C Whitbread

That an additional recommendation (13) be added;

‘(13)     That there was 0% increase in the District Council’s precept for 2017/18.’

Carried

There voted for the recommendations as amended: (40) namely: N Avey, R Baldwin, R Bassett, A Beales, N Bedford, R Brookes, R Butler, R Gadsby, S Heap, L Hughes, B Jennings, J Jennings, H Kane, S Kane, H Kauffman, J Knapman, J Lea, A Lion, M McEwen, R Morgan, S Neville, A Patel, J Philip, C C Pond, C P Pond, C Roberts, D Roberts, B Sandler, M Sartin, G Shiell, D Stallan, S Stavrou, B Surtees, G Waller, E Webster, C Whitbread, H Whitbread, J H Whitehouse, J M Whitehouse and D Wixley.

            RESOLVED:

(1)        That the list of CSB growth and savings for the 2017/18 budget (Annex 1) be approved;

(2)    That the list of District Development Fund and Invest to Save items for the 2017/18 budget (Annexes 2 and 3) be approved;

(3)    That the revenue estimates for 2017/18 and the draft Capital Programme for 2017/18 be approved as set out in Annexes 4, 5 (a-f) and 6 including all contributions to and from reserves as set out in the attached Annexes;

(4)    That the medium term financial strategy be approved as set out in Annexes 9 a and 9 b;

(5)    That the 2017/18 HRA budget be approved on the basis that the contribution to the self-financing reserve continues to be suspended, and that the application of rent  decreases resulting in an average decrease of 1% from £97.14 to £96.17, be approved;

(6)    That the Council's policy of retaining revenue balances at no lower than £4.0M or 25% of the net budget requirement whichever is the higher for the four year period to 2019/20 be amended to no lower than £4.0M or 25% of the net budget requirement whichever is the higher during the four year period up to and including 2020/21;

(7)    That the report of the Chief Financial Officer on the robustness of the estimates for the purposes of the Council’s 2017/18 budgets and the adequacy of the reserves (Annex 10) be noted.

Declaration of Council Tax

(8)    That it be noted that under delegated authority the Director of Resources, in consultation with the Finance Portfolio Holder, calculated the Council Tax Base 2017/18:

(a)        for the whole Council area as 53,029.2 (Item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended); and

(b)          for dwellings in those parts of its area to which a Parish precept relates as set out below and in Annex 7.

Tax Base  ...  view the full minutes text for item 103

(Finance Portfolio Holder) To consider the attached report (C-061-2016/17).

(1)        That the following guidelines for the Council’s General Fund Budget in 2017/18 be recommended to the Council for adoption:

            (a)        the revised revenue estimates for 2016/17, which were anticipated to          decrease the General Fund balance by £0.78m, including a transfer of £0.2m      to the Invest to Save Reserve;

            (b)        confirmation of the target for the 2017/18 Continuing Services Budget          (CSB) of £13.11m (including growth items);

            (c)        an increase in the target for the 2017/18 District Development Fund             (DDF) net spend from £0.26m to £1.89m;

            (d)        no change in the District Council Tax for a Band ‘D’ property to keep            the charge at £148.77;

            (e)        the estimated reduction in General Fund balances of £100,000 in     2017/18;

            (f)         the five year Capital Programme for the period 2016/17 – 2020/21;

            (g)        the Medium Term Financial Strategy for the period 2016/17 – 2020/21;        and

            (h)        the Council’s policy on General Fund Revenue Balances to remain that they be allowed to fall no lower than 25% of the Net Budget Requirement;

(2)        That the Housing Revenue Account (HRA) budget for 2017/18, including the revised revenue estimates for 2016/17, be recommended to the Council for approval;

(3)        That the Council be requested to note that the rent reductions proposed for 2017/18 will give an average overall fall of 1%; and

(4)        That the Chief Financial Officer’s report to the Council on the robustness of the estimates for the purposes of the Council’s 2017/18 budgets and the adequacy of the reserves be noted.

The Finance Portfolio Holder presented a report on the Council’s Budgets for 2017/18.

The Portfolio Holder set out the detailed recommendations for the Council’s budget for 2017/18. It was intended to use £100,000 from reserves but the Council’s policy on the level of reserves could be maintained throughout the period of the Medium Term Financial Strategy (MTFS). Over the course of the Strategy, the use of reserves to support spending would peak at £143,000 in 2019/20 and reduce to £113,000 in 2020/21. The budget was based on the assumption that Council Tax would not increase and that average Housing Revenue Account rents would decrease by 1% in 2017/18.

The Portfolio Holder also highlighted the Chief Financial Officer’s report on the robustness of the estimates for the purposes of the Council’s budgets for 2017/18 and the adequacy of the reserves within the budget report. It stated that the estimates as presented were sufficiently robust for the purposes of the Council’s overall budget for 2017/18. In addition, the Council’s reserves were adequate to cope with the financial risks facing the Council in 2017/18, but that further savings would be required in future years to bring the budget back into balance in the medium term. Particular concerns about the new rating list, which had been exacerbated by changes to transitional relief and the appeals system, and the continuing backlog of appeals for the current rating list were noted.

The Cabinet noted that the proposed funding from the Government of £3.85million was a reduction of 15.9% from 2016/17. Since the Medium Term Financial Strategy had been published in the Summer, the ceiling for the Continuing Services Budget had remained at £13.11million, and the ceiling for the District Development Fund had risen from £0.26million to £1.89million. The proposed increase in provision for the District Development Fund was due to an allocation of £1.028million for the Local Plan, plus further provision of £218,000 for Recycling Schemes and £104,000 for the Planned Building Maintenance Programme. It was also anticipated that a transfer of £500,000 would be required from the General Fund Reserve in 2018/19 to ensure that there were sufficient funds available until the end of the Strategy period.

Although the five-year Capital Programme envisaged expenditure of almost £125million, it was anticipated that there would still be £1.7million of usable capital receipts at the end of this period. The balance of the Housing Revenue Account was expected to be £2.022million at 31 March 2018, after a surplus of £494,000 in 2016/17 and a deficit of £1.674million in 2017/18.

The Portfolio Holder emphasised some further issues arising from the Medium Term Financial Strategy:

Ø    Future Government funding would reduce with the Revenue Support Grant turning negative in 2019/20.

Ø    The target for Continuing Services Budget growth had been achieved for 2017/18, but further efficiencies would be required if the new Leisure Contract failed to yield the predicted savings.

Ø    The Epping Forest Shopping Park was anticipated to achieve its revised opening date and provide the expected levels of  ...  view the full minutes text for item 131