Issue - meetings

Council Budget 2019/20 and Medium-Term Financial Plan 2019/20-2022/23

Meeting: 12/02/2019 - Scrutiny (Policy and Performance) Committee (Item 106)

106 COUNCIL BUDGET 2019/20 AND MEDIUM-TERM FINANCIAL PLAN 2019/20–2022/23 pdf icon PDF 67 KB

To consider the presentation and attached report of the Strategic Director (Corporate Resources).

 

Additional documents:

Minutes:

The Strategic Director (Corporate Resources) presented the report on the Budget 2019/20 and the Medium Term Financial Plan 2019/20-2022/23.

 

The key points for the budget were:

 

·         That the General Fund budget was funded for 2019/20;

·         That the Housing Revenue Account was funded for 2019/20;

·         That the Capital and Revenue Projects budget was funded for 2019/20;

·         That the Prudent General Fund balances were maintained at over £2.7m;

·         Council Tax increase of £4.95 which maintained the lowest Council Tax in East Kent;

·         That overall net expenditure levels had increased slightly, in line with inflation; and

·         That there were no significant reductions in funding for services and no major changes in staffing levels.

 

In response to concerns raised by Members over the Council’s property investment strategy and the risks that owning retail properties posed, the Strategic Director (Corporate Resources) advised that the Council had used only 25% of the revenue generated in the budget with the rest going into reserves. In addition, the Council had invested in very little high street property and had tried to diversify its investments.

 

Members were informed that in respect of the salary vacancy provision this was generated by the gap between a member of staff leaving and the post being filled. As such it was an estimate based on previous years rather than a target.

 

The Council also had a number of projects underway, including the redevelopment of Norman Tailyour House.


Meeting: 04/02/2019 - Cabinet (Item 88)

88 Council Budget 2019/20 and Medium-Term Financial Plan 2019/20-2022/23 pdf icon PDF 67 KB

To consider the attached report of the Strategic Director (Corporate Resources).

 

Responsibility: Portfolio Holder for Corporate Resources and Performance

Additional documents:

Minutes:

It was agreed:

 

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

 

(b)  That a web-based consultation on the budget be undertaken.

 

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