Agenda item

AGREED RECOMMENDATIONS

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.

RESOLVED:

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.
 

2.2     That the fees and charges policy and agree the 2019-20 fees and
          charges (Paragraphs 3.13-3.14 and Appendices C1-C3 of the report),
          be agreed.
 

2.3     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 3.15-3.18
          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.
 

2.5     That the 2019-20 HRA rents, fees and charges (Tables 6-9 and
          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.
 

2.7     That the Section 151 Officer applies capital resources to fund the
          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)

2.9     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 agree the
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.

2.12   That the Resident Impact Assessment (RIA) on the 2019-22 budget
          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