Agenda item

The draft Council Budget for 2013/14 was being considered against a background of significant cuts in funding by central Government as reflected by the provisional figures for the Local Government Finance Settlements for 2013/14 and 2014/15 announced on 19 December 2012. The figures showed a 7.4% cut in 2013/14 and a further 16.64% for 2014/15.

Councillor Everitt, Cabinet Portfolio Holder for Financial Services had met with Councillor Wise, Shadow Cabinet Member for Financial Services to share views in relation to different approaches to managing the New Homes Bonus funding.

Councillor Driver and Councillor Wise spoke under Council Procedure Rule 24.1.

Councillor Everitt proposed, Councillor C. Hart seconded and Members agreed the following:

1.  To recommend to Council the draft Medium Term Financial Plan at Annex 1 to the Cabinet report;

2.  To recommend to Council the draft General Fund Revenue budget estimates for 2013/14 to 2016/17 and the resulting budget requirement for 2013/14;

3.  To recommend to Council that the level of general reserves be held at £2,177k, and specific earmarked reserves be used as identified in Annex 2 to the Cabinet report;

4.  To recommend to Council the HRA budget estimates for 2013/14 to 2016/17 and the HRA service charges as shown at Annex 4 to the Cabinet report;

5.  To delegate the approval of the EK Housing Management Fee to the Director of Community Services in consultation with the Portfolio Holder for Housing and Planning;

6.  To recommend to Council the General Fund and Housing Revenue Account Capital Budgets for 2013/14 as detailed at Annexes 5 and 6 to the Cabinet report;

7.  To recommend to Council the draft Treasury Management Strategy (as reflected in Annex 3 to the Cabinet report), as approved by Governance and Audit at its meeting on 11 December 2012;

8.  To note the procurement update at paragraph 9 to the Cabinet report.