Decision details

That the Executive:

1.    Considers the effect of the funding available and revenue expenditure position as noted in paragraphs 1.21 and Table A of the report, supported by additional information in Appendix A to the report;

2.    Considers the Equality Impact Analysis at Appendix B and the consultation and engagement comments as show in Appendix F 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 2022/23 proposed in Table A of the report, subject to the following amendments:

·       An increase in the proposed 2022/23 Highways budget of £12,360,068

·       A new transfer from Earmarked Reserves of £2,304,000, reflecting a reduction in the existing Coronavirus Reserve to a nil balance

·       An increase in the County Precept line of £11,726,202 consisting of the proposed additional Council Tax increase of 1.99% referred to in recommendation 3c) below, which generates additional income of £6,463,462, the Collection Fund Surplus of £3,465,320, and increased Council Taxbase of £1,797,420

·       A decrease in the Business Rates Retention Line of £1,670,134 to reflect reduced income and the Collection Fund deficit.

b)    The capital programme for 2022/23 proposed in Table B and Appendix C of the report;

c)    The levels of council tax proposed in Table C and shown in Appendix D of the report amended to show an increase of council tax in 2022/23 by 3.00% for Adult Social Care and 1.99% for general services;

d)    The prudential indicators for 2022/23 shown in Appendix E to the report;

e)    The Medium Term Financial Strategy attached at Appendix G to the report;

f)      The Capital Strategy 2022/23 attached at Appendix H 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 final Local Government Finance Settlement and District Council business rates and final council tax information if received between the Executive meeting and the County Council on 18 February 2022.

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 18 February 2022.