Decision details

Budget Proposals 2021/22

Decision Maker: Cabinet, Council

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To agree the budget proposals for 2021/22

Decision:

Decision:

The Cabinet recommends to Council, having considered the recommendations and feedback from both the Budget Joint Overview and Scrutiny Committee and the stakeholder consultation:

1.           To set a General Fund budget requirement of £13.859m for 2021/22 detailed at section 3 of this report and shown in detail at Appendix A (inclusive of special expenses).

2.           To propose a Council Tax level of £168.62 for 2021/22 (Band D property).

3.           To note the indicative base estimates for 2022/23 and 2023/24 as detailed in the summary at Appendix A.

4.         To approve Housing Revenue Account (HRA) dwelling rent increases of 1.5 (CPI + 1%) in accordance with Government guideline rent providing an average rent of £80.78 (an average rental increase of £1.19 per a week).

5.           To approve an increase in HRA garage rents of 3%.

6.           To approve an average increase of 3% in HRA service charges for communal facilities and communal rooms.

7.           To approve an increase in shared ownership rents by 1.5% (CPI +1%).

8.           To approve the HRA Revenue Summary for the year 2021/22 shown at Appendix A.

9.            To approve the General Fund Capital programme for 2021/22 to 2023/24 detailed at section 5 of this report and shown at Appendix B.

10.         To approve the General Fund Capital Financing statement detailed at Appendix B.

11.         To approve the Housing Investment programme for 2021/22 to 2023/24 detailed at section 5 of this report and as shown at Appendix B to include an additional £440,000 of the Section 106 monies in order to fund temporary housing in the Stamford area.

12.         Approve the HRA Capital Financing statement detailed at Appendix B.

13.        To approve the movements in General Fund Revenue and Capital reserves and balances detailed at section 7 of this report and shown at Appendix C.

14.        To approve the movements in HRA revenue and Capital reserves and balances detailed at section 7 of this report and shown at Appendix C.

15.        To approve the fees and charges detailed at section 9 of this report and shown at Appendix D subject to an amendment at page 35 to show the Stamford car parking proposed charges to read:

Up to 30 minutes           90 pence

Up to 1 hour                  £1.20

Up to 2 hours                £1.90

Up to 3 hours                £2.50

Up to 4 hours                £4.10

Over 4 hours                 £5.30

 

Considerations/reasons for decision:

 

·       The report from the Cabinet Member for Finance and Resources, which was presented to Cabinet on 2 February 2021.

·       The report of the Cabinet Member for Finance and Resources, which was considered by Cabinet on 12 January 2021.

·       Comments made by the Joint Budget Overview and Scrutiny Committee at the meeting held on 13 January 2021.

·       Feedback from the Council Tax consultation which ran from 16 – 26 January 2021.

·       The budget proposals had been formulated within the context of the Corporate Plan ambitions and alignment to the five priorities.

·       The Spending Review 2020 and the draft Local Government Finance Settlement published on 17 December 2020.

·       The funding position for the General Fund (starting at paragraph 2 of the report of the Cabinet Member for Finance and Resources).

·       The General Fund Budget Estimates and Council Tax proposals (paragraphs 3.4 and 3.8 of the report of the Cabinet Member for Finance and Resources).

·       The Housing Revenue Account (HRA) rent proposals (paragraph 4.3 of the report of the Cabinet Member for Finance and Resources).

·       General Fund Capital Programme shown at paragraph 5.2 and detailed in Appendix B of the report of the Cabinet Member for Finance and Resources.

·       Capital financing for both the General Fund and HRA shown at paragraphs 6.2 and 6.3.

·       Information on Reserves and Balances (paragraph 7.2 of the report of the Cabinet Member for Finance and Resources).

·       Information on Budget proposals in paragraph 3.3.

·       The statutory requirement to set a balanced budget for each financial year.

·       Provisions within the Local Government Finance Act 1992.

·       Provisions within the Local Government Act 2003.

·       Amendments made to recommendations 2, 12 and 16 from those circulated in the report of the Cabinet Member for Finance and Resources.

 

 

Other options considered and rejected:

 

Option 1: A Council Tax increase of 3% on a Band D property.

Option 2: No Council Tax increase.

 

 

 

Report author: Richard Wyles

Publication date: 03/02/2021

Date of decision: 02/02/2021

Decided at meeting: 02/02/2021 - Cabinet

Accompanying Documents: