Agenda item

Business Plan 2019/20 and Medium Term Financial Strategy 2019/20 - 2023/24

Report of Assistant Director Finance, Procurement and Property (Section 151 Officer)

 

Purpose of report

 

The Business Plan and Summary Medium Term Financial Strategy are presented as an integrated report. This demonstrates the Councils strategic approach to aligning its resource to the delivery of Councils Priorities.

 

This report provides members with an update on the Business Plan 2019/20 and the Council’s Summary Medium Term Financial Strategy (MTFS) for 2019/20 to 2023/24 and the final MTFS.    

 

Recommendations

 

The meeting is recommended:

 

1.1.       To consider and approve the Business Plan set out in Appendix 1.

 

1.2.       To note the Risk Register contained at Appendix 2.

 

1.3.       To consider and approve an increase in the level of Council Tax for South Northamptonshire Council of 2.99% for 2019/20.

 

1.4.       To consider and approve the Medium Term Financial Strategy (MTFS), Revenue Budget 2019/20 and Capital Programme including recommending the growth and savings proposals included at Appendix 8.

 

1.5.       To consider and approve a minimum level of General Fund reserves of £1.8m.

 

1.6.       To consider and approve that authority be delegated to the Chief Finance Officer in consultation with the Portfolio Holder for Finance & Governance and Leader of the Council, and where appropriate the relevant Director and Portfolio Holder to:

·         Transfer monies to/from earmarked reserves should that become necessary during the financial year.

·         Update prudential indicators in both the Prudential Indicators Report and Treasury Management Strategy Report to Council, for any budget changes that impact on these.

 

1.7.       To consider that the Fees & Charges set out in Appendix 7 be approved.

 

1.8.       To consider the Treasury Management Strategy, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2019/20 as set out in Appendix 6.

 

1.9.       To consider and approve that authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 27 February 2019, including changes to the Finance Settlement and change relating to Parish Precepts and Council Tax levels associated with those changes.

 

1.10.    To note that the contents of the Section 25 report from the Chief Finance Officer in relation to the robustness of estimates and adequacy of reserves are set out in another section of the agenda.

 

1.11.    To consider and approve the appended statement of pay policy for 2019/20 as required by the Localism Act and detailed in Appendix 9.

 

1.12.    To note the equality impact assessment for 2019/20 detailed in Appendix 10.

 

Decision:

Resolved

 

(1)          That, having given due consideration, the Business Plan (annex to the Minutes as set out in the Minute Book), be approved.

 

(2)          That the Risk Register (annex to the Minutes as set out in the Minute Book) be noted.

 

(3)          That, having given due consideration, an increase in the level of Council Tax for South Northamptonshire Council of 2.99% for 2019/20 ne approved.

 

(4)          That, having given due consideration, the Medium Term Financial Strategy (MTFS), Revenue Budget 2019/20 and Capital Programme including recommending the growth and savings proposals (annexes to the Minutes as set out in the Minute Book), be approved.

 

(5)          That, having given due consideration, a minimum level of General Fund reserves of £1.8m be approved.

 

(6)          That, having given due consideration, authority be delegated to the Chief Finance Officer in consultation with the Portfolio Holder for Finance & Governance and Leader of the Council, and where appropriate the relevant Director and Portfolio Holder to:

·         Transfer monies to/from earmarked reserves should that become necessary during the financial year.

·         Update prudential indicators in both the Prudential Indicators Report and Treasury Management Strategy Report to Council, for any budget changes that impact on these.

 

(7)          That, having given due consideration, the Fees & Charges (annex to the Minutes as set out in the Minute Book), be approved.

 

(8)          That, having given due consideration, the Treasury Management Strategy, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2019/20 (annexes to the Minutes as set out in the Minute Book), be approved.

 

(9)          That, having given due consideration, authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 27 February 2019, including changes to the Finance Settlement and change relating to Parish Precepts and Council Tax levels associated with those changes.

 

(10)       That the contents of the Section 25 report from the Chief Finance Officer in relation to the robustness of estimates and adequacy of reserves, as set out in the previous agenda item, be noted.

 

(11)       That, having given due consideration, the statement of pay policy for 2019/20 as required by the Localism Act (annex to the Minutes as set out in the Minute Book), be noted.

 

(12)       That the equality impact assessment for 2019/20 be noted.

 

Minutes:

Prior to consideration of the item, the Chairman sought the agreement of Members to suspend standing orders with regard to the duration of the speech by the proposer of the budget, or the speeches of the group spokesperson and group Leaders. Members indicated agreement.

 

The Chairman reminded Council that it was required in legislation that any motion or amendment to the budget or council tax setting reports be taken by recorded vote and this would be done at the appropriate time.

 

The Assistant Director Finance, Procurement and Property (Section 151 Officer) submitted a report to provide Members with an update on the Business Plan 2019/20 and the Council’s Summary Medium Term Financial Strategy (MTFS) for 2019/20 to 2023/24 and the final MTFS.    

 

In introducing the report, the Portfolio Holder for Finance and Governance explained that the Council was required to produce a balanced budget for 2019/20 as the basis for calculating its level of Council Tax.The Business Plan and Summary Medium Term Financial Strategy were presented as an integrated report which demonstrated the Councils strategic approach to aligning its resource to the delivery of Councils Priorities.

 

Councillor Rawlinson thanked the Chief Finance Officer and the finance team who had worked hard on the budget process and submitted a balanced budget to Council. Councillor Rawlinson also thanked the Budget and Financial Strategy Committee and the Scrutiny Committee for their hard work supporting the budget setting and business plan process respectively.

 

Having presented the report, Councillor Rawlinson proposed the Business Plan 2019/20 and Medium Term Financial Strategy 2019/20 - 2023/24. Councillor McCord seconded the proposal.

 

Councillor Lofts, on behalf of the Liberal Democrat Group, addressed Council in response to the budget and confirmed that he would be proposing no amendments.

 

Councillor Billingham, on behalf of the Independent Group, addressed Council in response to the budget and confirmed that she would be proposing no amendments.

 

On behalf of Cabinet and all councillors, Councillor McCord, Leader of the Council, thanked all in charge of financial management at the council. Councillor McCord also extended thanks to the Portfolio Holder for Financial Management, the Budget and Financial Strategy Committee, commenting on the good budget setting and monitoring process which he hoped would be adopted by the new unitary council, and the Audit Committee Chairman, Councillor David Harries, and members.  

 

A recorded vote was taken and members voted as follows:

 

Councillor Addison

For

Councillor Atkinson

For

Councillor Bagot-Webb

For

Councillor Bambridge

For

Councillor Barnes

For

Councillor Bignell

For

Councillor Billingham

For

Councillor Budden

For

Councillor Roger Clarke

For

Councillor Stephen Clarke

For

Councillor Cooper

For

Councillor Dallyn

For

Councillor Hywel Davies

For

Councillor Peter Davies

For

Councillor Furniss

For

Councillor Grant

For

Councillor Harries

For

Councillor Herring

For

Councillor Hollowell

For

Councillor Hopkins

For

Councillor Johns

For

Councillor Lofts

For

Councillor Manners

For

Councillor McCord

For

Councillor Medina

For

Councillor Rawlinson

For

Councillor Samiotis

For

Councillor Sergison-Brooke

For

Councillor Smallman

For

Councillor Tarbun

For

Councillor Elaine Wiltshire

Councillor Paul Wiltshire

For

For

 

Resolved

 

(1)            That, having given due consideration, the Business Plan (annex to the Minutes as set out in the Minute Book), be approved.

 

(2)            That the Risk Register (annex to the Minutes as set out in the Minute Book) be noted.

 

(3)            That, having given due consideration, an increase in the level of Council Tax for South Northamptonshire Council of 2.99% for 2019/20 ne approved.

 

(4)            That, having given due consideration, the Medium Term Financial Strategy (MTFS), Revenue Budget 2019/20 and Capital Programme including recommending the growth and savings proposals (annexes to the Minutes as set out in the Minute Book), be approved.

 

(5)            That, having given due consideration, a minimum level of General Fund reserves of £1.8m be approved.

 

(6)            That, having given due consideration, authority be delegated to the Chief Finance Officer in consultation with the Portfolio Holder for Finance & Governance and Leader of the Council, and where appropriate the relevant Director and Portfolio Holder to:

·        Transfer monies to/from earmarked reserves should that become necessary during the financial year.

·        Update prudential indicators in both the Prudential Indicators Report and Treasury Management Strategy Report to Council, for any budget changes that impact on these.

 

(7)            That, having given due consideration, the Fees & Charges (annex to the Minutes as set out in the Minute Book), be approved.

 

(8)            That, having given due consideration, the Treasury Management Strategy, including the Prudential Indicators, Minimum Revenue Provision (MRP) Policy and Affordable Borrowing Limit for 2019/20 (annexes to the Minutes as set out in the Minute Book), be approved.

 

(9)            That, having given due consideration, authority be delegated to the Chief Finance Officer to make any technical changes necessary to the papers for the Council meeting of 27 February 2019, including changes to the Finance Settlement and change relating to Parish Precepts and Council Tax levels associated with those changes.

 

(10)        That the contents of the Section 25 report from the Chief Finance Officer in relation to the robustness of estimates and adequacy of reserves, as set out in the previous agenda item, be noted.

 

(11)        That, having given due consideration, the statement of pay policy for 2019/20 as required by the Localism Act (annex to the Minutes as set out in the Minute Book), be noted.

 

(12)        That the equality impact assessment for 2019/20 be noted.

 

Supporting documents: