Budget Proposals 2020-2021
Reason for decision – as specified in the report.
Other options considered - none.
Conflicts of interest/dispensations granted – none.
2.1 That the assumed MTFS and budget gap be noted, and that the comments of the Section 151 Officer in Section 8 regarding the additional medium-term budget risks that are not currently factored into the budget gap (Paragraph 3.6, Table 1 and Appendix A of the report) be noted.
2.2 That the revised 2020/21 to 2022/23 savings and income generation programme (Paragraph 3.18 and Appendix B of the report), and the revenue budget growth and additional/expanded service provision funded from existing budgets and external funding be agreed (Paragraphs 3.22-3.23, Table 5 and Appendices C1-C2 of the report).
2.3 That the risks around the savings currently assumed in the MTFS be noted, and that it be noted that a risk-based review of all assumed savings is currently underway and will inform the next review of budget assumptions at the outset of the 2021/22 budget setting process (Paragraphs 3.19-3.21 of the report).
2.4 That the 2020/21 net budgets by directorate be agreed (Paragraph 3.24, Table 7 and Appendix A of the report).
2.5 That the variables that could still significantly affect the 2020/21 budget be noted (Paragraph 3.25 of the report).
2.6 That the latest Dedicated Schools Grant (DSG) assumptions following the provisional DSG settlement for 2020/21 be noted (Paragraphs 3.26-3.33 of the report).
2.7 That the General Fund fees and charges policy be noted and the 2020/21 fees and charges be agreed (Paragraphs 3.35-3.36 and Appendices D1-D4 of the report).
2.8 That the budgeted movements to/from earmarked reserves assumed as part of the 2020/21 revenue budget (including the creation of a new Social Care Funding reserve) be agreed, and the unchanged policy on the minimum level of General Fund balances be noted (Paragraphs 3.38-3.40 and Table 8 of the report).
2.9 That it be agreed that any underspends at the end of the financial year should be used to increase General Fund balances and/or earmarked reserves in order to provide further resilience going into a very uncertain medium-term budget cycle from 2021/22. That it be agreed that should there be any advantageous changes to 2020/21 budget assumptions before finalising the final version of this report to the Executive on 6 February 2020 and Council on 27 February 2020, that this is used to increase the corporate contingency budget (Paragraph 8.11 of the report).
The HRA Budget and MTFS (Section 4)
2.10 That the balanced HRA 2020/21 budget be agreed and the latest estimates over the 3-year MTFS period be noted (Paragraph 4.3 and Appendix E1 of the report).
2.11 That the 2020/21 HRA rents and other fees and charges be agreed (Tables 10-13 and Appendix E2 of the report)
The Capital Programme 2020/21 to 2022/23 (Section 5)
2.12 That the 2020/21 to 2022/23 capital programme be agreed (Paragraph 5.1, Table 14 and Appendix F of the report).
2.13 That further work will be required to allocate the additional capital investment pot and that a revised capital programme will be set out in a report to Council during 2020/21 be noted (Paragraph 5.4 of the report).
2.14 That authority be delegated to the Section 151 Officer, where necessary, to apply capital resources to fund the capital programme in the most cost-effective way for the Council (Paragraph 5.6 of the report).
2.15 That the Council’s Capital Strategy, in compliance with the requirements of the Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code for Capital Finance in Local Authorities, will be included within the final budget report to the Executive on 6 February 2020 and Council on 27 February 2020 be noted (Paragraph 5.7 of the report).
Treasury Management and Investment Strategy (Section 6)
2.16 That the Treasury Management and Investment Strategy will be considered initially by Audit Committee on 28 January 2020 and included within the final budget report to the Executive on 6 February 2020 and Council on 27 February 2020 be noted (Paragraph 6.1 of the report).
Council Tax and Retained Business Rates (Section 7)
2.17 That the detailed, statutory council tax calculations and the recommendations for the final 2020/21 council tax level, including the Greater London Authority (GLA) precept, will be included for agreement in the final budget report to the Executive on 6 February 2020 and Council on 27 February 2020 be noted (Paragraph 7.1 of the report).
2.18 That matters relating to the proposed London Business Rates Retention (Non-Pilot) Pool in 2020/21 will be included for agreement in the final budget report to the Executive on 6 February 2020 and Council on 27 February 2020 be noted.
Matters to Consider in Setting the Budget (Section 8)
2.19 To have regard to the Section 151 Officer’s report on the robustness of the estimates included in the budget and the adequacy of the proposed financial reserves when making decisions about the budget and the level of council tax, as required under Section 25(2) of the Local Government Act 2003 (Paragraphs 8.1-8.10 of the report).
2.20 That the comments of the Monitoring Officer be noted (Paragraphs 8.11-8.15 of the report).
2.21 That the Resident Impact Assessment (RIA) on the budget proposals be noted (Appendix G of the report).
- Draft Budget Report 2020-21_Executive 16.1.19, item 677. PDF 294 KB
- Budget Report - all appendices, item 677. PDF 2 MB