Decision - General Fund Revenue Budget & Council Tax 2010/11

(1)         That Cabinet recommends to Council, subject to 2.3 below, the 2010/11 General Fund Revenue Budget proposals including;

§         The 2010/11 budget allocations to services as set out in appendix 1.

§         The investment in services and new allocations proposals as set out in paragraphs 3.42 to 3.46.

§         The council’s budget for 2010/11 of £230.8m.

§         The Directorate budget strategies as set out in appendix 8.

§         The corporate budgets of £19.3m.

§         The contingency budget of £4.2m as set out in table 6.

§         The reserves allocations as set out in appendix 3.

§         The borrowing limit of £302m for the year commencing 1 April 2010.

§         The annual Minimum Revenue Provision statements as set out in appendix 4.

§         The prudential indicators as set out in appendix 7 to this report.

(2)         That the Medium Term Financial Strategy budget and resource projections for 2011/12 and 2012/13, as set out in appendix 5, based on council tax increases of 2.5% for each year be noted.

(3)         That it be noted that supplementary information needed to set the overall council tax will be provided for the budget setting Council as listed in paragraph 4.7.

The council is under a statutory duty to set its council tax and budget before 11 March each year. The recommendations to Budget Council contained within this report together with the recommendations to follow in the supplementary report to full Council, will enable the council to meet its statutory duty.

The budget process allows all parties to put forward viable alternative budget and council tax proposals to Budget Council on 25 February. Budget Council has the opportunity to debate both the proposals put forward by Cabinet at the same time as any viable alternative proposals. All budget amendments must have been “signed off” by finance officers no later than 12 noon on Monday 22 February.