Decision details

To consider the Revenue Estimates up to the year 2012/13 and the Capital Programme up to the year 2014/15.

Cabinet RECOMMENDED TO COUNCIL:

a)            that the capital programme (Appendix A) and the associated funding up to the year ending 31st March 2017 be approved as submitted;

b)            that the revised revenue estimates for the year 2011/12 and the revenue estimates for 2012/13 be approved as submitted in the General Fund summary (Appendix B1);

c)            that the council tax requirement for 2012/13 be £7,019,160;

d)            that the Council 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 a District Council Tax for general expenses on a Band D property of £115.46 plus the relevant amounts required by the precepts of Parish Councils, Cambridgeshire County Council and the Cambridgeshire Police and Fire Authorities, details of those precepts and their effect to be circulated with the formal resolution required at the Council meeting;

e)            that the medium term financial strategy for the General Fund (Appendix B2) be approved based on the assumptions set out in this report;

f)             that the precautionary items for the General Fund (Appendix B3) be approved;

g)            that Executive Management Team be instructed to identify further savings of £200,000 in 2012/13 and of £470,000 in subsequent years;

h)            that the Housing Revenue Account estimates and the rent increase for the financial year ending 31 March 2013 (Appendix C and C1) be approved, the rent increase being in accordance with rent restructuring guidance from the Department for Communities and Local Government;

i)              that the service and other charges for housing services for the financial year ending 31 March 2013 be approved (Appendix C2);

j)              that the Housing Revenue Account business plan for the next 30 years to 31 March 2042 (Appendix C3) be approved;

k)            that the borrowing and investment strategy for the year to 31 March 2012 (revised) and for the year to 31 March 2013 (Appendix D1) be approved. This includes the proposed long term borrowing of around £205 million with regard to Housing Revenue Account Self Financing to be raised from the Public Works Loan Board and explicit approval is requested for this transaction; and

l)              that the prudential indicators required by the Prudential Code for Capital Finance in Local Authorities for the year to 31 March 2013 (Appendix D2) be approved.