Issue - meetings

To consider the attached report (C-011-2019-20).

1.            The Cabinet noted the increased integration of the 2019/20 Budget Mid-Year Review, Budget 2020/21 and medium-term and long-term financial planning processes.

2.            The outline financial review and financial planning timetable and its timetable and its correlation with key meeting dates was noted.

3.            The Cabinet commented in general and took note of the key issues that would underpin the 2020/21 Budget and medium-term and long-term financial plans.

4.            The Cabinet noted that although early in the process of financial planning, at this point, a combination of local performance issues, local plans and cost pressures and local tax and charging uncertainties together with the general economic climate were putting pressure on the Budget and was increasing the need for savings, service changes and increase in council tax and charges.

5.            The Cabinet noted that they may need to have Budget and financial planning meetings and updates in November 2019 and January 2020, (in addition to the current timetable).

The Business Support Portfolio Holder introduced the report on the Council’s budget, medium-term and long-term financial plans. She noted that the Council’s final accounts would be submitted to the September meeting of the Audit and Governance Committee and then published on the website. We were expecting useful guidance from our external auditor to enable us to make any necessary improvements to our ongoing budget process.

It was important the financial plans of the Authority reflected the ambitions and priorities of the Authority and the legal, economic and social environment in which it operated.

It was important that an integrated approach was taken to this financial planning and that the previously separate activities were more fully brought together.

In 2020/21 we would be automating our processes to make better use of our IT systems. As in previous years we would be aiming to put our draft budget together for consideration by the end of October. For November our priority would be developments and investments. It was the intention that the completion of strategic and service reviews would occur before the final draft budget came together for early December.  Officers had planned to assemble the 2019/20 budget process for the end of December to allow a quarterly dry run.

Councillor C C Pond noted that one of the major hazards of the budgeting process was the pending NNDR appeal on large premises in Waltham Abbey. He had not heard anything about this in the last few months, was anyone aware of what was happening. The Business Support Holder said that she was not aware of any progress, she understood that there would be up to a two year wait for the appeals to be heard. The Chief Finance Officer added that the Council was awaiting any formal notification of change and they would report it as soon as it came through.

Decision:

1.            The Cabinet noted the increased integration of the 2019/20 Budget Mid-Year Review, Budget 2020/21 and medium-term and long-term financial planning processes.

2.            The outline financial review and financial planning timetable and its timetable and its correlation with key meeting dates was noted.

3.            The Cabinet took note of the key issues that would underpin the 2020/21 Budget and medium-term and long-term financial plans.

4.            The Cabinet noted that although early in the process of financial planning, at this point, a combination of local performance issues, local plans and cost pressures and local tax and charging uncertainties together with the general economic climate were putting pressure on the Budget and was increasing the need for savings, service changes and increase in council tax and charges.

5.            The Cabinet noted that they may need to have Budget and financial planning meetings and updates in November 2019 and January 2020, (in addition to the current timetable).

Reasons for Proposed Decisions:

These were just for information and noting by the Cabinet.

Other Options for action:

No other options were proposed.