[To approve matters relating to the draft budget for 2018-2019 and beyond as the basis for consultation with stakeholders and to note an update on the provisional Local Government Finance settlement announcement]

1.       That the extension of use of the capital receipts flexibilities to fund transformation work to 2019-2020 be approved.

2.       That authority be delegated to the Cabinet Member for Resources, in consultation with the Director for Finance to respond to the consultation on the Fair Funding Review.

3.       That the outcome of the 2018-2019 provisional local government finance settlement be noted.

4.       That it be noted that the final budget report to Cabinet 21 February 2018 would reflect the outcome of the settlement, budget consultation, scrutiny work and detailed budget work for 2018-2019, including a review of all savings and the risks associated with their delivery.

Councillor Andrew Johnson presented the key points from the report on an overview of the 2018-2019 provisional local government finance settlement, which the Government announced on 19 December 2017. In the light of the announcement in the provisional settlement to continue with capital receipt flexibilities for a further three years, approval was requested to extend the use of capital receipts flexibilities to fund transformation work to 2019-2020.  This would enable the Council to capitalise revenue transformational costs up to the value of capital receipts available in 2019-2020.

In order that the Council takes opportunities to influence the shaping of local government funding where possible, delegated authority to the Cabinet Member for Resources was proposed to respond to the Government consultation on the Fair Funding Review.

Resolved:

1.    That the extension of use of the capital receipts flexibilities to fund transformation work to 2019-2020 be approved.

2.    That authority be delegated to the Cabinet Member for Resources, in consultation with the Director for Finance to respond to the consultation on the Fair Funding Review.

3.    That the outcome of the 2018-2019 provisional local government finance settlement be noted.

4.    That it be noted that the final budget report to Cabinet 21 February 2018 would reflect the outcome of the settlement, budget consultation, scrutiny work and detailed budget work for 2018-2019, including a review of all savings and the risks associated with their delivery.