Issue - meetings

(Minute 258 refers).

RESOLVED – that (A) the amended Financial Strategy including the Policy on Reserves be approved;

(B)      the revised MTFP assumptions set out in Essential Reference Paper “E” be approved as a basis for future planning with the intention that actions be identified in the 2012/13 budget round to ensure spending proposals remain within forecast funding over the period 2015/16 including, where appropriate, any short term application of reserves, and

(C)      the New Homes Bonus be applied as set out in paragraph 2.7 and detailed in Essential Reference Paper “F” and the Director of Internal Services agree with the Portfolio Holder request transfers in respect of the new Homes Bonus in light of the issues raised by Members.

The Executive Member for Resources and Internal Support submitted a report reviewing the Council’s Financial Strategy and Medium Term Financial Plan (MTFP) which included assumptions used to update the Plan since its approval in February 2011.  The Executive Member explained that the review needed to take into account the use of the New Homes Bonus and the Government’s announcements regarding localisation of business rates and Council Tax Benefit.  Members’ attention was drawn to comments by Corporate Business Scrutiny set out elsewhere on the agenda.

The Executive Member explained what the assumptions contained in the budget were and sought feedback.  It was suggested that the General Reserve figure be set out in the strategy.  It was noted that the figure for Members’ Allowances was minus 2.68% and not as shown.  The Executive Member for Resources and Internal Support explained the Council’s use of structural deposits.

The Executive Member for Resources and Internal Support explained how the New Homes Bonus would work, the detail of which was set out in Essential Reference Paper “F” attached to the report now submitted.  It was hoped that the Council would adopt a “light touch” in terms of an administrative role and of the need to keep local Councillors involved in the allocation of any monies.

The Leader referred to the challenges faced by the Community in using these funds and how they could be used in a fair and equitable way.   The need to dovetail the aspirations contained in the Neighbourhood Plans with the Council’s Local Development Framework for the District was discussed.  Concerns were expressed about developing “Green Belt”.

Clarification was sought and provided regarding the calculation of Council Tax behind the national average Band “D” rate.   Members supported the amendment of the figure shown for Band “D” following consideration of this matter.

The Executive supported the proposals as now detailed.

RECOMMENDED – that (A) the amended Financial Strategy including the Policy on Reserves be approved;

(B)  the revised MTFP assumptions set out in Essential Reference Paper “E” be approved as a basis for future planning with the intention that actions be identified in the 2012/13 budget round to ensure spending proposals remain within forecast funding over the period 2015/16 including, where appropriate, any short term application of reserves, and

(C)     the New Homes Bonus be applied as set out in paragraph 2.7 and detailed in essential Reference Paper “F” and the Director of Internal Services agree with the Portfolio Holder request transfers in respect of the new Homes Bonus in light of the issues raised by Members.

(See also Minute 276 below).