Issue - meetings

[To approve the 2020-2021 Final Budget and the Medium Term Financial Strategy for the period to 2023-2024]

That Council be recommended to approve:

1.    The net budget requirement for 2020-2021 of £248.2 million for General Fund services (paragraph 19.1).

2.    The Medium Term Financial Strategy (MTFS) 2020-2021 to 2023-2024 as detailed in Table 7 and the budget preparation parameters underpinning the MTFS as detailed in Appendix 1 to the report.

3.    A Council Tax for Council services in 2020-2021 of £1,681.58 for a Band D property, being an increase of 3.99% on 2019-2020 levels, which incorporates the 2% increase in relation to Adult Social Care (paragraph 9.6).

4.    That work starts on developing budget reductions and income generation proposals for 2021-2022 onwards in line with the Five Year Financial Strategy (paragraph 19.5).

5.    Revisions to the local council tax support scheme to introduce a disregard of any compensatory payments that are similarly disregarded in the prescribed scheme, and any transitional payments made to compensate for the loss of the severe disability premium in Universal Credit (paragraph 10.5).

That Cabinet is recommended to approve:

1.    The changes to the 2020-2021 draft budget for General Fund services, since the draft budget was last reported to Cabinet on 16 October 2019, as detailed in sections 6 to 18.

2.    That authority be delegated to the Cabinet Member for Resources, in consultation with the Director of Finance, to approve the calculation and allocation of growth in the central share of business rates for 2020-2021 and future years to be passported to the West Midlands Combined Authority (WMCA) (paragraph 11.6).

3.    That approval be delegated to the Cabinet Member for Resources, in consultation with the Director of Finance, to respond to any consultation papers on the Business Rates Retention Scheme, Comprehensive Spending Review, Fair Funding Review and any other related consultation papers (paragraph 14.4).

4.    That authority be delegated to the Cabinet Member for Resources and the responsible Cabinet Member of the relevant service area in question, in consultation with the Director of Finance and the relevant Director to allocate budgets from the Corporate Contingency for Budget Growth once business cases have been completed (paragraph 5.8).

5.    That authority be delegated to the Cabinet Member for Resources and Cabinet Member for Education, in consultation with Director of Finance and Director of Children’s Services, to approve changes to the local funding formula for Schools including method, principles and rules adopted (paragraph 18.4). 

6.    That authority continues to be delegated to the Cabinet Member for Resources in consultation with the Director of Finance to consider further opportunities to accelerate pension contribution payments to secure additional budget reductions (paragraph 6.7).

7.    That £750,000 be transferred from the Efficiency Reserve to a new specific Climate Change Reserve (paragraph 7.6).

8.    That authority be delegated to the Cabinet Member for City Environment and the Cabinet Member for Resources, in consultation with the Director of City Environment and the Director of Finance to allocate funds from the Climate Change Reserve (paragraph 7.6).

That Cabinet is asked to note:

1.    That the budget for 2020-2021 is in  ...  view the full decision text for item 8

Councillor Louise Miles presented the 2020-2021 Final Budget and Medium Term Financial Strategy 2020-2021 to 2023-2024 report for approval and recommendation to Full Council.

Resolved:

That Council be recommended to approve:

1.    The net budget requirement for 2020-2021 of £248.2 million for General Fund services.

2.    The Medium Term Financial Strategy (MTFS) 2020-2021 to 2023-2024 as detailed in Table 7 and the budget preparation parameters underpinning the MTFS as detailed in Appendix 1 to the report.

3.    A Council Tax for Council services in 2020-2021 of £1,681.58 for a Band D property, being an increase of 3.99% on 2019-2020 levels, which incorporates the 2% increase in relation to Adult Social Care.

4.    That work starts on developing budget reductions and income generation proposals for 2021-2022 onwards in line with the Five Year Financial Strategy.

5.    Revisions to the local council tax support scheme to introduce a disregard of any compensatory payments that are similarly disregarded in the prescribed scheme, and any transitional payments made to compensate for the loss of the severe disability premium in Universal Credit.

That Cabinet approves:

1.    The changes to the 2020-2021 draft budget for General Fund services, since the draft budget was last reported to Cabinet on 16 October 2019, as detailed in sections 6 to 18.

2.    That authority be delegated to the Cabinet Member for Resources, in consultation with the Director of Finance, to approve the calculation and allocation of growth in the central share of business rates for 2020-2021 and future years to be passported to the West Midlands Combined Authority (WMCA).

3.    That approval be delegated to the Cabinet Member for Resources, in consultation with the Director of Finance, to respond to any consultation papers on the Business Rates Retention Scheme, Comprehensive Spending Review, Fair Funding Review and any other related consultation papers.

4.    That authority be delegated to the Cabinet Member for Resources and the responsible Cabinet Member of the relevant service area in question, in consultation with the Director of Finance and the relevant Director to allocate budgets from the Corporate Contingency for Budget Growth once business cases have been completed.

5.    That authority be delegated to the Cabinet Member for Resources and Cabinet Member for Education, in consultation with Director of Finance and Director of Children’s Services, to approve changes to the local funding formula for Schools including method, principles and rules adopted. 

6.    That authority continues to be delegated to the Cabinet Member for Resources in consultation with the Director of Finance to consider further opportunities to accelerate pension contribution payments to secure additional budget reductions.

7.    That £750,000 be transferred from the Efficiency Reserve to a new specific Climate Change Reserve.

8.    That authority be delegated to the Cabinet Member for City Environment and the Cabinet Member for Resources, in consultation with the Director of City Environment and the Director of Finance to allocate funds from the Climate Change Reserve.

That Cabinet notes:

1.    That the budget for 2020-2021 is in balance without  ...  view the full minutes text for item 8