Decision - General Fund Revenue Budget & Council Tax 2012/13

To agree the revenue budget and council tax for 2012/13 and recommend approval by Full Council

RESOLVED:

(1)               That the Council be recommended to approve, subject to recommendation 2.3 below, the 2012/13 General Fund Revenue Budget proposals contained in the body of the report including:

(i)           A 3.5% increase in the Brighton & Hove element of the council tax.

(ii)         The 2012/13 budget allocations to services as set out in appendix 1.

(iii)       The council’s net General Fund budget requirement for 2012/13 of £227.1m.

(iv)        The reinvestments as set out in paragraph 3.35.

(v)          The budget savings package as set out in appendix 10.

(vi)        The contingency budget of £4.9m as set out in table 5.

(vii)      The reserves allocations as set out in appendix 5 and table 3.

(viii)    The borrowing limit for the year commencing 1 April 2012 of £383m (to include long term liabilities relating to PFI schemes of £62m).

(ix)        The annual Minimum Revenue Provision statement as set out in appendix 8.

(x)          The prudential indicators as set out in appendix 9 to this report.

(2)               That the revised Medium Term Financial Strategy budget and resource projections for 2012/13 to 2014/15 as set out in appendix 6 to the report be noted; and

(3)               That it be noted that supplementary information needed to set the overall council tax would be provided for the budget setting Council as listed in paragraph 4.5 of the report.