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Budget Proposals 2019-2020

Meeting: 07/02/2019 - Executive (Item 584)

584 Budget Proposals 2019-2020 pdf icon PDF 161 KB

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Reason for decision – as specified in the report.

Other options considered - none.

Conflicts of interest/dispensations granted – none

Link to report




The General Fund Budget 2019-20 and MTFS (Section 3)

2.1         That the 2019-20 net Council cash limits as set out in Table 1 (Paragraph 3.7) of the report and the MTFS at Appendix A of the report, which include the 2019-22 revenue savings at Appendix B of the report, and the 2019-20 revenue growth proposal at paragraph 3.6 of the report be agreed.

2.2         That the Council should strongly oppose Government proposals in the ‘Review of Local Authorities’ Relative Needs and Resources Consultation’ to remove deprivation indicators from the baseline grant formula, which would significantly disadvantage high-need boroughs such as Islington, and the other key elements of the Council’s response as set out in paragraphs 3.9-3.10 of the report, be agreed.

2.3         That the fees and charges policy be noted and the 2019-20 fees and charges, paragraphs 3.12-3.13 and Appendices C1-C3 of the report, be agreed.

2.4         That the estimated use of the Council’s earmarked budget reserves (including the creation of a new Transformation Reserve), the Council’s policy on the level of General Fund balances, with an increase in General Fund balances of £2m in 2019-20, and an increase in the ongoing contingency budget of £3m in 2019-20, paragraphs 3.14-3.17 and Table 2 of the report, be agreed.

The HRA Budget and MTFS (Section 4)

2.5         That the balanced HRA 2019-20 budget, including savings and growth proposals, within the HRA MTFS at Tables 4-5 and Appendix D1 of the report be agreed.

2.6         That the 2019-20 HRA rents, fees and charges, agreed by Executive on 17 January 2019, tables 6-9 and Appendix D2, of the report, be noted.

The Capital Programme 2019-22 (Section 5)

2.7         That the 2019-20 capital programme and note the provisional programme for 2020-22, paragraph 5.1, Table 10 and Appendix E1 of the report, be agreed.

2.8         That the Capital Strategy 2019-22, which includes affordability prudential indicators and the minimum revenue provision (MRP) policy, paragraph 5.2 and Appendix E1 of the report, be agreed.

2.9         That the Treasury Management and Investment Strategy 2019-20 (including external debt and treasury management Prudential Indicators), as considered by Audit Committee on 31 January 2019, paragraph 5.2 and Appendix E2 of the report, be agreed.

2.10      That the Strategy for Other Investments (including Commercial Investments) 2019-20, paragraph 5.3 and Appendix E3 of the report, be agreed.

Council Tax and Retained Business Rates (Section 6)

2.11      That the calculations required for the determination of the 2019-20 council tax requirement and the level of council tax as detailed in Section 6 of the report and summarised below, be agreed.

1)     The 2019-20 council tax requirement of £92,993,961.91, paragraph 6.2 of the report.

2)     The relevant basic amount of Islington Band D council tax of £1,169.38, a 2.99% increase compared to 2018-19, and to determine that this is not ‘excessive’, paragraphs 6.3 and 6.4 of the report.

3)     The basic amount of Islington Band D council tax for dwellings to which no special item relates (i.e. outside of the Lloyd Square Garden Committee area)  ...  view the full minutes text for item 584