Issue - meetings

Appendices 1A and 6 contain restricted information as defined in paragraph 3 of Schedule 12A to the Local Government Act 1972 (As Amended). Paragraph 3 relates to

“Information relating to the financial or business affairs of any particular person (including the authority holding that information).”

If Members wish to discuss this restricted information, they should refer to the Confidential Supplement associated with the main agenda document.

Not for call-in

(1)          Cabinet recommended that Council :-

Revenue and capital – GF

(a)          Approve the revenue estimates for 2019-20 as shown in the GF BSR Section 5 at Appendix 1 to this report.

(b)          Approve the precautionary items for the GF, GF BSR Appendix B, Appendix 1 to this report.

(c)           Approve the GF revenue forecasts as set out in GF BSR Section 6, Appendix 1 to this report.

(d)          Instruct the Executive Management Team to identify additional income / cumulative savings of £3 million for the five years from 2019-2024.

(e)          Delegate the use of the Earmarked reserve for Business Efficiency initiatives to the Chief Executive, in consultation with the Lead Member for Finance, and that £1m is transferred into this reserve from the General Fund reserve. As at the end of 2017-18 financial year, the General Fund reserve stood at £7,751,000.

(f)            Authorise £500,000 of Planning Earmarked Reserves, budgeted to support the shortfall in income in the year 2018-19, but not required due to sufficient over budget income levels being achieved, to be budgeted to use towards Business Transformation programmes in Planning in 2019-20.

(g)          Approve the GF capital programme and associated funding up to the year ended 31 March 2024, as set out in GF BSR Section 7, at Appendix 1to this report.

(h)          Set the Council Tax Requirement for 2019-20 at £9,092,962.

(i)            Set the amount of Council Tax for each of the relevant categories of dwelling in accordance with Section 30(2) of the Local Government Finance Act 1992 on the basis of the District Council Tax for general expenses on a Band D property of £145.31 plus the relevant amounts required by the precepts of the Parish Councils, Cambridgeshire County Council, the Cambridgeshire Police and Crime Commissioner and the Cambridgeshire Fire Authority, details of those precepts and their effect to be circulated with the formal resolution required at the Council meeting.

Revenue – HRA

(j)            Approve the HRA savings, increased income, unavoidable revenue pressures, bids and reduced income items, as summarised in Section 4, and detailed in Appendix G (1) of the HRA Budget Setting Report at Appendix 2 to this report.

(k)           Approve the non-cash limit adjustments, as summarised in Section 4, and detailed in Appendix G (1) of the HRA Budget Setting Report at Appendix 2 to this report.

(l)            Approve the resulting HRA revenue budget as shown in the HRA Summary Forecast 2018-19 to 2023-24 in Appendix I of the HRA Budget Setting Report at Appendix 2 to this report.

(m)         Approve the retention of the balance of the 4-year efficiency savings target of £95,000 per annum from 2020-21 included as part of the 2018-19 HRA Medium Term Financial Strategy, and the corresponding Strategic Investment Fund for the same value.

Review of Rents and Charges

(n)          Approve that council dwelling rents for all social rented properties be reduced by 1% for the final year, in line with legislative requirements introduced as part of the Welfare Reform and Work Act,  ...  view the full decision text for item 10

Cabinet is considered a report on financial strategies and budgets.

(1)          Cabinet recommended that Council :-

Revenue and capital – GF

(a)          Approve the revenue estimates for 2019-20 as shown in the GF BSR Section 5 at Appendix 1 to this report.

(b)          Approve the precautionary items for the GF, GF BSR Appendix B, Appendix 1 to this report.

(c)           Approve the GF revenue forecasts as set out in GF BSR Section 6, Appendix 1 to this report.

(d)          Instruct the Executive Management Team to identify additional income / cumulative savings of £3 million for the five years from 2019-2024.

(e)          Delegate the use of the Earmarked reserve for Business Efficiency initiatives to the Chief Executive, in consultation with the Lead Member for Finance, and that £1m is transferred into this reserve from the General Fund reserve. As at the end of 2017-18 financial year, the General Fund reserve stood at £7,751,000.

(f)            Authorise £500,000 of Planning Earmarked Reserves, budgeted to support the shortfall in income in the year 2018-19, but not required due to sufficient over budget income levels being achieved, to be budgeted to use towards Business Transformation programmes in Planning in 2019-20.

(g)          Approve the GF capital programme and associated funding up to the year ended 31 March 2024, as set out in GF BSR Section 7, at Appendix 1to this report.

(h)          Set the Council Tax Requirement for 2019-20 at £9,092,962.

(i)            Set the amount of Council Tax for each of the relevant categories of dwelling in accordance with Section 30(2) of the Local Government Finance Act 1992 on the basis of the District Council Tax for general expenses on a Band D property of £145.31 plus the relevant amounts required by the precepts of the Parish Councils, Cambridgeshire County Council, the Cambridgeshire Police and Crime Commissioner and the Cambridgeshire Fire Authority, details of those precepts and their effect to be circulated with the formal resolution required at the Council meeting.

Revenue – HRA

(j)            Approve the HRA savings, increased income, unavoidable revenue pressures, bids and reduced income items, as summarised in Section 4, and detailed in Appendix G (1) of the HRA Budget Setting Report at Appendix 2 to this report.

(k)           Approve the non-cash limit adjustments, as summarised in Section 4, and detailed in Appendix G (1) of the HRA Budget Setting Report at Appendix 2 to this report.

(l)            Approve the resulting HRA revenue budget as shown in the HRA Summary Forecast 2018-19 to 2023-24 in Appendix I of the HRA Budget Setting Report at Appendix 2 to this report.

(m)         Approve the retention of the balance of the 4-year efficiency savings target of £95,000 per annum from 2020-21 included as part of the 2018-19 HRA Medium Term Financial Strategy, and the corresponding Strategic Investment Fund for the same value.

Review of Rents and Charges

(n)          Approve that council dwelling rents for all social rented properties be reduced by 1% for the final year, in line with legislative requirements introduced as  ...  view the full minutes text for item 10

Appendix 3 (Capital Strategy) and Appendix 4 (Treasury Management) will follow.

The Interim Executive Director (Corporate Services) and Lead Cabinet Member for Finance, presented the General Fund and Housing Revenue Account (HRA) Budgets 2019-20. The committee was informed that the £3 million savings target over the life of the Medium Term Financial Strategy was felt to be achievable and lower than most other councils.

The committee was informed that:

·         Investment had previously been focussed on Ermine Street Housing. Going forward there was a need to diversify the investment portfolio.

·         Member training on evaluating investment proposals, was being arranged with the East of England Local Government Association.

·         It had been possible to finance additional Ermine Street Housing funding through existing cash reserves.

·         The Council had not needed to borrow money to fund the ice rink.

·         The committee was assured that the Council’s borrowing was not excessive. Any borrowing was for investments and the ownership of assets.

·         The audit of last year’s accounts was in progress.

The committee discussed the report and made the following points:

·         Disappointment was expressed that the pay policy increase would be a percentage increase. Rather than a percentage increase it was suggested that this should be a sum of money paid to all staff, as a percentage increase simply made high paid staff richer and gave those at the bottom of the pay structure a percentage of very little. The committee was informed that this would be taken on board for future negotiations with the unions.

·         Concern was raised that staff were not necessarily trained to manage investment accounts. Assurance was sought that the organisation had this expertise and sufficient staffing. The committee was informed that the council would be looking at setting up an investment board serviced by officers with relevant experience.

The committee moved to confidential session to discuss the Ermine Street Housing Business Plan, which contained commercially sensitive information. The committee was informed that as Ermine Street Housing was approaching its purchase target of 500 properties, a thorough review would be undertaken.

The Scrutiny and Overview Committee ENDORSED the recommendations to Cabinet, as detailed in the report.