Issue - meetings

To consider the attached report of the Director of Housing, Community and Finance.

The Director of Finance, Housing and Community introduced the Budget 2018/19 and the Medium Term Financial Plan 2018/19-2021/22.

Members were advised that the 2018/19 budget was forecast to be balanced with General Fund balances maintained at £2.5 million. While the overall net expenditure levels were slightly reduced there were no significant reductions in funding for services or major changes to staffing levels.

The main pressures faced by the General Fund in the 2018/19 budget were reduced funding streams and the impact of the increased need for provision of temporary accommodation for homeless prevention. This had been offset by additional income from investments, following the approval of the new Treasury Management Strategy, and income from properties in line with the approved Property Investment Strategy. These additional income streams had prevented the need for any significant changes to services.

Members raised the following points:

·         In response to a question about whether the café at Kearsney Abbey would be closed during the winter months it was stated that this was currently the case.

·         In response to a question about what controls were in place in respect of the EK Services budget it was stated that EK Services had to operate within its allocated budget.

·         In response to a question about whether there was a legal minimum level of reserves that the Council was required to hold it was stated that while there was no legal minimum the intention was to try and maintain a minimum of £2 million in reserves.

·         In response to a question on staffing numbers it was stated that the council did not set any target related to staff turnover and that the Employment Management Group continued to robustly manage vacancies as they arose.

To consider the report of the Director of Finance, Housing and Community (to follow).

Responsibility: Portfolio Holder for Corporate Resources and Performance

(a)  That the draft General Fund Revenue Budget, the Capital and Special Projects Programmes, the Housing Revenue Account (HRA) budget and the content of the Medium-Term Financial Plan (MTFP), as set out at Appendix 1 of the report, be forwarded to the Scrutiny (Policy and Performance) Committee for consideration.

(b)  That it be noted that the Council Tax Resolution and Treasury Management Strategy will be added to the MTFP, and that other minor adjustments will be made, before it is presented to Council in March.

(c)  That the various recommendations at the end of the sections within the Budget and MTFP report, as consolidated  at Annex 12 of the report, be forwarded to the Scrutiny (Policy and Performance) Committee for consideration, as follows:

(i)            Continue the practice of delegating authority to the Director of Finance, Housing and Community to approve revenue budget carry forwards within the guidelines set out.

            (ii)        Approve the grants to organisations detailed at Annex 11 of

                        the report.

            (iii)       Approve the General Fund Revenue Budget for 2018/19 and

                        the projected outturn for 2017/18.

            (iv)       Approve the policies and protocols regarding the General 

                        Fund balances and earmarked reserves, and transfers

                        between reserves as set out at Annex 6 of the report.

(v)       Delegate to the Director of Finance, Housing and Community, in

 consultation with the Portfolio Holder for Corporate Resources and Performance, the power to acquire freehold or leasehold residential properties and to agree terms and conditions in connection therewith.

            (vi)       Approve the 2017/18 Projected Outturn and the 2018/19

                        HRA budget at Annex 7 of the report.

            (vii)       Delegate to the Director of Finance, Housing and

                        Community, in consultation with the Portfolio Holder for

                        Corporate Resources and Performance, the setting of the 

                        level of the on-going HRA minimum balance, the transfer of  

                        balances to the Housing Initiatives Reserve (HIR), the use of

                        prudential borrowing, and adjustment of the resources of the

                        HIR accordingly.

(viii)    Continue the practice of delegating authority to the Director of Finance, Housing and Community, in consultation with the Portfolio Holder for Corporate Resources and Performance, to apply capital receipts, revenue resources, grants, Section 106 monies, etc to finance the approved Capital and Special Revenue Projects programmes.

(ix)      Continue the practice of delegating authority to the Director of Finance, Housing and Community, in consultation with the Portfolio Holder for Corporate Resources and Performance, to authorise projects up to £50,000 that are included in the Capital and Special Revenue Programmes; approve the allocation of funds from the Capital and Special Revenue Contingencies to projects; authorise virements between regeneration projects and apply Growth Point reserves to regeneration projects.

(x)        Delegate to the Director of Finance, Housing and Community, in consultation with the Portfolio Holder for Corporate Resources and Performance, authority to authorise project overspends up to a maximum of 10% or £100,000 (whichever is lower), and apply relevant financing resources to cover. 

(xi)       Approve the Capital and Special Projects Programmes.

            (xii)       Approve that capital resources required to finance new 

                        projects are secured before new projects commence.  ...  view the full minutes text for item 139