Decision - General Fund Revenue Budget, Capital and Treasury Management Strategy 2021/22
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Decision details
General Fund Revenue Budget, Capital and Treasury Management Strategy 2021/22
Decision Maker: Policy & Resources Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
General Fund revenue and capital budget
2021/22including the treasury management strategy to recommend to
Budget Council
Decision:
(1) That the Administration’s proposed budget and Council Tax increase on the Brighton & Hove element of the council tax, subject to the necessary revision to account for the approved joint amendment be approved, comprising:
(i) A general Council Tax increase of 1.99%;
(ii) An Adult Social Care Precept increase of 3.00%;
(iii) The council’s net General Fund budget requirement for 2021/22 of £218.571m before accounting for the exceptional Section 31 item of -£33.764m;
(iv) The 2021/22 budget allocations to services as set out in the Budget book at Appendix 1 incorporating 2021/22 savings proposals;
(v) The reserves allocations as set out in the table at paragraph 5.26;
(vi) A recommended working balance of £9.000m.
(2) That the updated Medium-Term Financial Strategy included in the Budget Book at Appendix 1 be noted;
(3) That the Capital Strategy for 2021/22 at Appendix 2 be approved, 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 2021/22 of £221.103m included within the Budget book at Appendix 1 and incorporating allocations to strategic funds.
(4) That the Equalities Impact Assessments to cover all relevant budget options and their cumulative effect as set out in Appendices 6 and 7 be noted;
(5) That it be further noted that the budget decision is an indicative resourcing decision to be taken in the context of the explanation in the Legal Implications paragraph 17.3;
(6) That the Treasury Management Strategy Statement as set out in Appendix 3 be approved, 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 2021 of £541m.
(7) That it be noted 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.
RESOLVED: That the council’s appointed S151 Chief Financial Officer be authorised to make any necessary technical, presentational or consequential amendments to this report before submission to full Council.
Report author: Rob Allen
Publication date: 11/02/2021
Date of decision: 11/02/2021
Decided at meeting: 11/02/2021 - Policy & Resources Committee
Accompanying Documents:
- General Fund Revenue Budget, Capital and Treasury Management Strategy 2021/22 PDF 835 KB View as HTML (1) 350 KB
- Appendix 1 Budget Book PDF 2 MB View as HTML (2) 3 MB
- Appendix 2 Capital Strategy PDF 483 KB View as HTML (3) 262 KB
- Appendix 3 Treasury Management Strategy PDF 917 KB View as HTML (4) 466 KB
- Appendix 4 Review of Reserves PDF 339 KB View as HTML (5) 156 KB
- Appendix 5 Assessment of Risks PDF 193 KB View as HTML (6) 97 KB
- Appendix 6 EIA's cumulative Impact PDF 291 KB View as HTML (7) 85 KB
- Appendix 7 EIA's PDF 677 KB View as HTML (8) 367 KB
- Item 149 ConGrp amendments final PDF 21 KB View as HTML (9) 8 KB
- Item 149 Joint LabCon&Grn amendment 2021final PDF 221 KB View as HTML (10) 24 KB