Decision - General Fund Revenue Budget, Capital & Treasury Management Strategy 2020/21
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General Fund Revenue Budget, Capital & Treasury Management Strategy 2020/21
Decision Maker: Policy & Resources Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Annual approval of the council's General Fund
Revenue Budget, Capital Strategy (including the Capital Investment
Programme) and Treasury Management Strategy (including the Annual
RESOLVED: That the Committee recommends to Council:
(1) The Administration’s proposed budget and Council Tax increase on the Brighton & Hove element of the council tax, comprising:
i) A general Council Tax increase of 1.99%;
ii) An Adult Social Care Precept increase of 2%;
iii) The council’s net General Fund budget requirement for 2020/21 of £215.606m;
iv) The 2020/21 budget allocations to services as set out in the Budget book at Appendix 1 incorporating 2020/21 savings proposals;
v) The reserves allocations as set out in paragraph 3.16 and table 3;
(2) That Council notes the updated Medium Term Financial Strategy included in the Budget Book at Appendix 1.
(3) That Council approves the Capital Strategy for 2020/21 at Appendix 2 comprising:
i) The strategy for funding the investment in change, including the flexible use of capital receipts as set out in section 6;
ii) The capital resources and proposed borrowing included at Annex A of the Capital Strategy;
iii) The Capital Investment Programme for 2020/21 of £163.169m included within the Budget book at Appendix 1 and incorporating allocations to strategic funds.
(4) That Council notes the Equalities Impact Assessments to cover all relevant budget options and their cumulative effect as set out in Appendices 6 and 7.
(5) That Council further notes the budget decision is an indicative resourcing decision to be taken in the context of the explanation in the Legal Implications paragraph 14.3.
(6) That Council approves the Treasury Management Strategy Statement as set out in Appendix 3 comprising:
i) The Annual Investment Strategy
ii) The Prudential and Treasury Indicators
iii) The Minimum Revenue Provision policy
iv) The authorised borrowing limit for the year commencing 1 April 2020 of £465m.
(7) That Council notes that supplementary information needed to set the overall council tax will be provided for the budget setting Council meeting as listed in paragraph 9.3.
(8) That Policy & Resources Committee agrees that the Acting Chief Finance Officer be authorised to make any necessary technical, presentational or consequential amendments to this report before submission to full Council.
Report author: Nigel Manvell
Publication date: 13/02/2020
Date of decision: 13/02/2020
Decided at meeting: 13/02/2020 - Policy & Resources Committee
- General Fund Revenue Budget, Capital & Treasury Management Strategy 2020/21 PDF 512 KB
- Appendix 1 Budget Book PDF 2 MB
- GG Amendments for Items 127 v3 PDF 305 KB
- Appendix 2 - Capital Strategy PDF 465 KB
- Appendix 3 Treasury Managment Policy and Strategy 2020-21 PDF 756 KB
- Appendix 4 Review of Reserves PDF 260 KB
- Appendix 5 - Assessment of Risks PDF 191 KB
- Appendix 6 EIA Cumulative impact PDF 267 KB
- Appendix 7 - EIA's PDF 600 KB