Decision details

That the Executive:

1.    Considers the effect of the updated funding available and revenue expenditure as noted in paragraphs 1.4 and 1.5, Appendix A and Appendix B of the report;

2.    Considers the Equality Impact Analysis at Appendix C and the consultation comments as shown in Appendix I of the report and presented at the meeting.

3.    Subject to recommendation 4 below approves for recommendation to full council:

a)    The revenue budget for 2020/21 shown in Appendix d of the report;

b)    The capital programme for 2020/21 shown in table E and Appendix E of the report;

c)    The levels of council tax proposed in table B of the report including the increase of council tax in 2020/21 by 3.50%;

d)    The prudential indicators for 2020/21 shown in Appendix G of the report;

e)    The Flexible Use of Capital Receipts Strategy for 2020/21 attached as Appendix H to the report; and

f)     The Medium Term Financial Strategy attached at Appendix J to the report.

4.    Requests the Leader to review and amend the Executive's budget recommendations to the County Council, as appropriate, in light of the National Living wage cost pressure outlined in paragraphs 1.14 and 1.15 of the report, and the final Local Government Finance Settlement and the council tax, and business rates information from the Lincolnshire District Councils if received between the Executive meeting and the County Council on 21 February 2020.

5.    Requests the Leader to review and amend the figures within the Medium Term Financial Strategy to be recommended to the County Council as appropriate, to ensure consistency with final budget recommendations made to the County Council meeting on 21 February 2020.