Agenda item

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

Responsibility: Portfolio Holder for Corporate Resources and Performance

It was agreed:

(a)  That the draft General Fund Revenue Budget, the Capital and Special Projects Programmes, the Housing Revenue Account budget (HRA), and the content of the Medium Term Financial Plan (MTFP), as proposed 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 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 14 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 the 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 2017/18 and the projected outturn for 2016/17.

(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 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.

(vi)         Delegate to the Director of Finance, Housing and Community, in consultation with the Portfolio Holder for Corporate Resources and Performance, the approval of offers, tenders or bids for the purchase of properties on the open market or at auction, in order to respond to market opportunities.

(vii)        Approve the 2016/17 Projected Outturn and the 2017/18 HRA budget at Annex 7 of the report.

(viii)       Delegate to Cabinet the approval of individual projects to be financed by the HIR.

(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 apply capital receipts, revenue resources, grants, Section 106 monies, etc to finance the approved Capital and Special Revenue Projects Programmes.

(x)          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; authorise the allocation of funds to projects from the Capital and Special Revenue Contingencies; authorise virements between regeneration projects and apply Growth Point reserves to regeneration projects.

(xi)         Approve the Capital and Special Revenue Projects Programmes.

(xii)        Approve that capital resources required to finance new projects are secured before new projects commence.

(xiii)       Delegate to the Director of Finance, Housing and Community, in consultation with the Portfolio Holder for Corporate Resources and Performance, the amendment of the level and period of investment in property funds.

(xiv)       Approve the Treasury Management Strategy, including the Prudential Indicators and Minimum Revenue Provision Statement.