Budget Proposals 2019-20
Reason for decision – as specified in the report.
Other options considered - none.
Conflicts of interest/dispensations granted – none
Councillor Hull introduced the
Budget Proposals, noting that a three-year budget gives a level of
certainty to staff and residents that it has not previously been
possible to achieve. Councillor Hull
noted that the report will be submitted to the Policy and
Performance Scrutiny Committee for comment.
Councillor Watts requested an additional recommendation is added to the report to be submitted to the next meeting, to note that the government’s proposals to remove deprivation from the funding formula, as part of the Fair Funding Review, will have a detrimental impact on future funding for all urban areas.
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 3.8) 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 proposals at paragraph
3.7 of the report, be agreed.
That the fees and charges policy and agree the 2019-20 fees
charges (Paragraphs 3.13-3.14 and Appendices C1-C3 of the report),
That the estimated use of the Council’s earmarked budget
(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 3.15-3.18
and Table 2 of the report), be agreed.
The HRA Budget and MTFS (Section 4)
2.4 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.
That the 2019-20 HRA rents, fees and charges (Tables
Appendix D2 of the report), be agreed.
The Capital Programme 2019-22 (Section 5)
2.6 That the 2019-20 capital programme be agreed and the provisional
programme for 2020-22 (Paragraph 5.1, Table 10 and Appendix E of
the report), be noted.
That the Section 151 Officer applies capital resources to fund
capital programme in the most cost-effective way (Paragraph 5.2 of
the report), be agreed.
Treasury Management and Investment Strategy (Section 6)
2.8 That the Treasury Management and Investment Strategy will initially
be considered by Audit Committee on 31 January 2019 and then be
included for agreement within the final budget report to the Executive
on 7 February 2019 and Council on 28 February 2019, be noted.
Council Tax and Retained Business Rates (Section 7)
That the detailed, statutory council tax calculations and the
recommendations for the final 2019-20 council tax level, including the
Greater London Authority (GLA) precept, will be included in the budget
report to the Executive on 7 February 2019 and Council on 28 February
2019 (Paragraph 7.1 of the report), be noted.
2.10 That the following be agreed in relation to the Council’s proposed
participation in the London Business Rates Pilot Pool (Paragraphs
7.2 to 7.6 of the report):
2.10.1 That the designation by the Secretary of
State as an authority within
the London Business Rates Pilot Pool pursuant to 34(7) (1) of Schedule
7B Local Government Finance Act 1988 be accepted and agreed.
2.10.2 That participation in the London Business
Rates Pilot Pool with effect
from 1 April 2019 to 31 March 2020 be agreed.
2.10.3 That the authority's administrative
functions as a billing authority
pursuant to the Non-Domestic Rating (Rates Retention) Regulations
2013 be delegated to the City of London Corporation acting as the
Lead Authority, be agreed.
2.10.4 That the Lead Authority be authorised to
sub-contract certain ancillary
administrative functions regarding the financial transactions (payment
of tariffs and top-ups) within the Pool to the GLA as it considers
expedient, be agreed.
2.10.5That authority be delegated to the Section 151 Officer to
operational details of the pooling arrangements with the participating
authorities, in consultation with the Executive Member for Finance, Performance and Community Safety, be agreed.
2.10.6 That authority be delegated to the
Section 151 Officer to make any
amendments to the Memorandum of Understanding, attached at
Appendix F to the report, as may be required by the Secretary of State,
and to enter into the final Memorandum of Understanding on behalf of
the authority, be agreed.
2.10.7 That the Leader of the Council be
authorised to represent the authority
in relation to consultations regarding the London Business Rates Pilot
Pool as may be undertaken by the Lead Authority pursuant to the
Memorandum of Understanding, be noted.
2.10.8 That authority be delegated to the
Section 151 Officer, to consider
such consultative reports as the Lead Authority may circulate and to
respond on behalf of the authority with regard to any
recommendations and, in particular, proposals for projects to be
approved for funding from the Strategic Investment Pot, in
consultation with the Executive Member for Finance, Performance and
Community Safety, be agreed.
2.10.9 That authority be delegated to the Lead
Authority to undertake the
functions of assessment, due consultation and approval of projects
eligible for funding from the Pool's Strategic Investment Pot following
consultation with the participating authorities (provided that at least
two thirds of such participating London Boroughs are (including the
City of London Corporation) in favour of the relevant recommendation
as well as the Mayor of London, and that no entire sub-region is in
disagreement with the decision) on such terms and conditions as shall
ensure value for money and compliance with the law, be agreed.
Matters to Consider in Setting the Budget (Section 8)
2.11 That the Section 151 Officer’s and the Monitoring Officer’s comments
in their determination of the revenue and capital budgets for 2019-20
and the basis for the level of council tax, including the Section 151
Officer’s report in relation to his responsibilities under Section 25 (2) of
the Local Government Act 2003, be noted.
That the Resident Impact Assessment (RIA) on the 2019-22
proposals (Appendix G of the report) be considered and noted.
Reason for decision – to allow Members to agree the budget decisions to be recommended to Council.
Other options considered – none other than as specified in the report.
Conflicts of interest/dispensations granted – none
- Budget Proposals 2019-20 Executive 17 Jan 2019, item 575. PDF 405 KB
- Appendices A-G Budget Proposals 2019-20, item 575. PDF 4 MB