Agenda item

(a) That the Revenue and Capital Budgets as detailed in this report and in the report to Cabinet dated 13 January 2021 be recommended to Full Council for approval.

(b) That the updated Medium Term Financial Strategy 2021/22 to 2025/26 (Appendix 2) be recommended to Full Council for approval.

(c) That the strategy for ensuring a balanced revenue outturn position for 2020/21 be approved.

(d) That the calculation of the Council Tax base and the Council Tax increase to be proposed for 2021/22 of £5 per Band D equivalent property be recommended to Full Council for approval.

(e) That the risk assessment at Appendix 3 and the Section 151 Officer’s recommendation on the level of reserves and contingencies provisionally required to be maintained in 2021/22 be recommended to Full Council for approval.

(f) That the Flexible Use of Capital Receipts Strategy (Appendix 6), updated for 2021/22, be recommended to Full Council for approval.

(g) The Borough Growth Fund Priorities for 2021/22 be approved.

(h) That the Capital Strategy (Appendix 7) for 2021-31 be recommended to Full Council for approval.

(i) That the Treasury Management Strategy (Appendix 8) for 2021/22 be recommended to Full Council for approval.

(j) That the Investment Strategy (Appendix 9) for 2021/22 be recommended to Full Council for approval.

(k) That the Local Council Tax Reduction Scheme (Appendix 10) for 2021/2022 be recommended to Full Council for approval.

Cabinet considered a report on Revenue and Capital Budgets for 2021/22.  The draft budgets were based on the assumptions set out in the 5 year Medium Term Financial Strategy for 2021/22 to 2025/26.  There were also a number of Strategies submitted – Flexible Use of Capital Receipts, Capital Strategy, Treasury Management Strategy and Investment Strategy. 

The Leader introduced the item and drew attention to the Borough Growth Fund for 2021/22 with priorities including £100k for the Environmental Sustainability Strategy; £50k to provide specialist support to address community concerns around odour; £100k for the One Council programme to transform public access to council services and provide some efficiency savings and £70k for Town Centre recovery following the pandemic. 

The impact on the Council tax payer would be a £5 increase on Band D equivalent properties. 

The Council’s Balances and Reserves had been reviewed and it was recommended that there be a minimum General Fund balance of £3m and an Income Reserve of £0.100m to safeguard financial resilience and to reflect the ongoing impact of the Coronavirus pandemic. 

Councillor Sweeney, Portfolio Holder for Finance and Efficiency, reported that the Finance, Assets and Performance Scrutiny Committee had reviewed the budget and strategies at their meeting on 18^th January.  He also referred to the public consultation on the budget which highlighted the following areas as most important to residents; the consultation had also found that residents felt services should be protected as far as possible even if a Council tax increase was required:

-       Town Centre regeneration

-       Refuse Collection

-       Parks, playgrounds and open spaces

-       Recycling Facilities

-       Street cleansing

The budget included funding for the refurbishment of Kidsgrove Sports Centre. He endorsed the budget for recommendation to full Council on 24^th February.

Resolved:

(a) That the Revenue and Capital Budgets as detailed in this report and in the report to Cabinet dated 13 January 2021 be recommended to Full Council for approval.

(b) That the updated Medium Term Financial Strategy 2021/22 to 2025/26 (Appendix 2) be recommended to Full Council for approval.

(c) That the strategy for ensuring a balanced revenue outturn position for 2020/21 be approved.

(d) That the calculation of the Council Tax base and the Council Tax increase to be proposed for 2021/22 of £5 per Band D equivalent property be recommended to Full Council for approval.

(e) That the risk assessment at Appendix 3 and the Section 151 Officer’s recommendation on the level of reserves and contingencies provisionally required to be maintained in 2021/22 be recommended to Full Council for approval.

(f) That the Flexible Use of Capital Receipts Strategy (Appendix 6), updated for 2021/22, be recommended to Full Council for approval.

(g) The Borough Growth Fund Priorities for 2021/22 be approved.

(h) That the Capital Strategy (Appendix 7) for 2021-31 be recommended to Full Council for approval.

(i) That the Treasury Management Strategy (Appendix 8) for 2021/22 be recommended to Full Council for approval.

(j) That the Investment Strategy (Appendix 9) for 2021/22 be recommended to Full Council for approval.

(k) That the Local Council Tax Reduction Scheme (Appendix 10) for 2021/2022 be recommended to Full Council for approval.