Decision - Revenue & Capital Budget Planning and Resource Update 2020/21 to 2023/24

RESOLVED: That the Committee -

1.    Noted the resource and net expenditure projections for 2020/21 and the Medium Term Financial Strategy (MTFS) projections set out in the body of the report and Appendices 1, 2 and 3 based on a 1.99% Council Tax increase.

2.    Noted the predicted budget gaps for 2020/21 to 2023/24 to be adopted for budget setting purposes as detailed at paragraph 4.20.

3.    Instructed the Executive Leadership Team (ELT) to develop 4-Year Budget Plans including investment and savings proposals to address the predicted budget gaps for the period 2020/21 to 2023/24 based on the assumptions in this report, and for consideration by Policy, Resources & Growth Committee.

4.    Agreed to explore options for reviewing the Council Tax Reduction Scheme (CTR). This could include:
    (i) full subsidy of the scheme, or other amendments to alleviate    the   strain on the city’s poorest households;
    (ii) with details on the financial implications and necessary community consultation resulting from any change brought to a future committee.

5.    Noted the resource projections for the 5-Year Capital Investment Programme as shown in Appendix 4.

6.    Given the reduction in number of CTR scheme claimants (detailed in 1.19) that Committee agreed to sufficiently promote the CTR consultation and discretionary fund with partners, with a future report to be provided to this committee on the improved promotion work done