Agenda item

RECOMMENDED:     1)         That Council approve the revision to the budget for 2020/2021 as set out in the report.

2)         That Council to reaffirm the Policy on Earmarked Reserves and General Fund Working Balance and the maximum balances set for the reserves as noted in the report.  

3)         That Council :

  i.         Approves the budget of £21,731,380 for 2021/2022 and notes the projections for 2022/2023, 2023/2024 and 2024/2025.

  ii.        Approves the level of Special Expenses for the Town/Parish Councils as detailed in the report.

 iii.        Approves the Fees and Charges for 2021/2022 detailed in Appendix 3.

iv.        Approves a Band D council tax of £134.87 for 2021/2022

4)         That Council approves a minimum requirement of the General Fund balance for 2021/2022 of £1,086,569.

Reason for Decision

In order to make recommendations to Council to set a budget for the forthcoming year.

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Assistant Director and S151 Officer M Drewery presented the report setting out the revised budget for 2020/21 and the proposed budget for 2021/22 and projections to 2025. She explained that for the coming year the budget provided for a small surplus to contribute to the general fund reserve balance.  However, it is estimated that for 2022/23 and 2023/24 there would be a requirement to drawdown from reserve balances to provide a funded budget for both years which would reduce the reserve to minimum levels.  This left 2024/25 with an estimated budget gap which will need to be addressed.

She had given briefings to Members including the meeting of the Joint Panels who had considered the reports. A composite report would be submitted to Council including all the Council Tax resolution requirements and other precepting bodies requirements.

Under standing Order 34 Councillor S Collop had submitted a question but was unable to attend. The response given at the meeting would be emailed.

Under standing order 34 Councillors Rust, Moriarty and Ryves asked questions on the report.  Responses to those questions were given.

It was confirmed that the recommendations were to approve the budget for 2021/22 and noting the projections for the future years.

Cabinet Members commented on the report and responded to the questions asked.

RECOMMENDED:     1)         That Council approve the revision to the budget for 2020/2021 as set out in the report.

2)         That Council to reaffirm the Policy on Earmarked Reserves and General Fund Working Balance and the maximum balances set for the reserves as noted in the report.  

3)         That Council :

  i.         Approves the budget of £21,731,380 for 2021/2022 and notes the projections for 2022/2023, 2023/2024 and 2024/2025.

  ii.        Approves the level of Special Expenses for the Town/Parish Councils as detailed in the report.

 iii.        Approves the Fees and Charges for 2021/2022 detailed in Appendix 3.

iv.        Approves a Band D council tax of £134.87 for 2021/2022

4)         That Council approves a minimum requirement of the General Fund balance for 2021/2022 of £1,086,569.

Reason for Decision

In order to make recommendations to Council to set a budget for the forthcoming year.