Decision - General Fund Revenue Budget, Capital & Treasury Management Strategy 2022/23
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Decision details
General Fund Revenue Budget, Capital & Treasury Management Strategy 2022/23
Decision Maker: Policy & Resources Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
Purpose:
The General Fund revenue and capital
expenditure plans for 2022/23 including the proposed council
tax
Decision:
RESOVLED:
That Policy & Resources Committee recommends to Council:
2.1 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 1.00%;
iii) The council’s net General Fund budget requirement for 2022/23 of £199.853m;
iv) The 2022/23 budget allocations to services as set out in the Budget book at Appendix 1 incorporating 2022/23 savings proposals and investments;
v) The reserves allocations as set out in the table at paragraph 5.20;
vi) A recommended working balance of £9.000m (approximately 4.5% of the net budget).
2.2 That Council notes the updated 4-Year Medium Term Financial Strategy included in the Budget Book at Appendix 1.
2.3 That Council approves the Capital Strategy for 2022/23 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 7;
ii) The capital resources and proposed borrowing included at Annex A of the Capital Strategy;
iii) The Capital Investment Programme for 2022/23 of £222.788m included within the Budget Book at Appendix 1 and incorporating allocations to strategic funds.
2.4 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.
2.5 That Council further notes that approval of the budget is an indicative resourcing decision to be taken in the context of the explanation given in the Legal Implications paragraph 17.3.
2.6 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 2022 of £590m.
2.7 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 11.3.
That Policy & Resources Committee agrees:
2.8 That the council’s Chief Finance Officer be authorised to make any necessary technical, presentational or consequential amendments to this report before submission to Budget Council.
Report author: Rob Allen
Publication date: 11/02/2022
Date of decision: 10/02/2022
Decided at meeting: 10/02/2022 - Policy & Resources Committee
Accompanying Documents:
- General Fund Revenue Budget, Capital & Treasury Management Strategy 2022/23
PDF 782 KB View as HTML (1) 440 KB
- Appendix 1 Budget book
PDF 2 MB View as HTML (2) 3 MB
- Appendix 2 - Capital Strategy 2022/23 to 2026/27
PDF 493 KB View as HTML (3) 281 KB
- Appendix 3 - Treasury Management Strategy
PDF 883 KB View as HTML (4) 483 KB
- Appendix 4 - Review of Reserves
PDF 330 KB View as HTML (5) 148 KB
- Appendix 5 - Assessment of Risks
PDF 269 KB View as HTML (6) 104 KB
- Appendix 6 EIA's
PDF 617 KB View as HTML (7) 490 KB
- Appendix 7 Cumulative Impacts
PDF 288 KB View as HTML (8) 78 KB
- Item 108 ConGrp 01 amendment Gen Fund
PDF 181 KB View as HTML (9) 18 KB