Issue - meetings

Report of the Head of Finance

Presented by the Corporate Portfolio Holder

The Corporate Portfolio Holder presented the report to Members.

He highlighted to Members that the predicted shortfall had been made up following additional New Homes Bonus and increased efficiency, which had also allowed for additional spending on increasing affordable housing, sustainable transport and extending the free wi-fi. He stated that the report included proposals to invest the remaining VFM fund which included a second round of 20 4 7. He informed Members that there was increased  uncertainty around income streams in the future and therefore it was justifiable to increase the reserves using underspendings in the current year. He added that it was proposed to freeze the Council Tax and that the appendices showed provided updates on projects made possible through previous years’ underspendings.. Through the Chair he suggested that, to enable a full and informed debate at Council, it would be helpful to have early sight of any proposed amendments to the budget.

It was moved by Councillor N J Rushton, seconded by Councillor R Blunt and

RESOLVED THAT:

Cabinet:

1.    Approves the allocations from the VFM Reserve listed in paragraph 2.9.3

2.    Recommends to Council:

a.            That it notes the level of reserves and assurance statement by the Section 151 Officer in section 7 of the report.

b.            The surplus income over expenditure in 2015/16 is transferred to the General Fund Reserve at 31 March 2016.

c.            The consultation responses detailed in appendix 1 are noted

d.            Approval of the General Fund Revenue Budget for 2015/16 summarised in appendix 2.

e.            Approval of the Special Expenses Budget for 2015/16 set out in appendix 3.

f.             That it freezes the District’s Council Tax in 2015/16.

Reason for decision: To enable the Council to set a balanced budget for 2015/16 as required by statute.