Agenda item

Commissioning & Financial Plan 2018-19 to 2020-21 (including revenue budget)

Strategy and Resources Committee on 5 February 2018 recommended to Full Council to approve the draft Commissioning and Financial Plans for 2018/19 to 2020/21 comprising the revenue budget 2018/19 (including the Housing Revenue Account budget), the capital programme 2018/19 to 2020/21, the treasury management strategy for 2018/19 and the council tax for 2018/19.


Councillor Simon Wales, Lead Member for Finance, moved the adoption of the revised recommendation.


Councillor Tim Crowley proposed an amendment to the revised recommendation which was seconded by Councillor Neil Garratt (attached at Appendix E).


Following debate, and in accordance with government regulations, recorded votes were taken on the amendment and substantive recommendation (see below).


Resolved: to

Agree the recommendations from Strategy and Resources Committee subject to the amendments set out in the report and the attached revised appendices B, C, annex 5.2 of G, H and L as well as part 1 section 4 of appendix K (not attached - see Paragraph 4.2).


Commissioning intentions

1. agree the Outcomes Based Commissioning Plan at Appendix A; Revenue Budget 2018/19

2. agree the proposed General Fund net budget requirement of £141.350m summarised at appendix B (revised) and by Directorate at appendix L (revised);

3. agree the base budget changes set out in section 11 and summarised in appendix C (revised);

4. agree the 2018/19 savings proposed in appendix D;

5. note the rent reduction of 1% as mandated by the government and agree the Housing Revenue Account (HRA) budget 2018/19 (appendix E1) including the proposed savings;

Capital Programme

6. approve the revised capital programme for 2018/19 to 2021/22 with a total spend of £204.444m plus the late addtional LIP funding of £0.189m, including the proposed funding arrangements and policies, as set out in section 12 and appendix F;

7. authorise expenditure to be incurred of £10.216m for the detailed 2018/19 Housing Capital Programme (appendix F3) and £0.762m for expenditure on Corporate Operational Buildings (appendix F4);


8. agree the policy on reserves as set out in section 11;

Treasury Management

9. approve the Treasury Management Strategy 2018/19 which includes the annual investment strategy, prudential indicators and borrowing limits as set out in appendix G. Approve the revised Minimum Revenue Provision Policy Statement (Annex 5.2) (revised);

Council Tax

10. agree the council tax for 2018/19 at £1,308.52 for a Band D property, an increase of £25.17 (2%) for the adult social care ‘precept’ and £25.04 (1.99%) for general purposes;

11. approve the formal resolution at appendix H, including the council tax requirement of £95.178m (revised);

12. note the proposed Greater London Authority precept of £294.23, increased from £280.02 in 2017/18, a yearly increase of £14.21 or 27p a week (revised);


13. approve the Council’s pay policy statement for 2018/19 (appendix J); and

14. approve the Members’ Allowances Scheme 2018/19 (appendix K) (revised - see 4.2).

Supporting documents: