Budget Proposals 2021-22 and Medium-Term Financial Strategy
- Meeting of Executive, Thursday, 21st January, 2021 7.00 pm (Item 777.)
- View the background to item 777.
Reasons for decision – as specified in the report
Other options considered – as specified in the report
Conflicts of interest / dispensations granted – none
a) That the latest assumed MTFS and balanced 2021/22 budget, including the underlying principles and assumptions (Paragraphs 3.1-3.30, Table 1 and Appendix A) be approved and recommended to Council.
That the unprecedented level of uncertainty in the
estimates due to COVID-19 and the wider local government funding
outlook (Paragraphs 3.31-3.41 of the report)
That the latest draft 2021/22 net budgets by
directorate (Paragraph 3.5, Table 2 and Appendix A of the
report) be approved and recommend to Council.
d) That the 2021/22 savings (Paragraphs 3.42-3.45, Table 6 and Appendices B1-B2 of the report), be approved and recommended to Council, subject to consideration of individual consultations before implementation in some cases.
That the Dedicated Schools Grant (DSG) settlement
for 2021/22 and related funding assumptions (Paragraphs 3.46-3.55 of the report) be noted.
That the fees and charges policy and the GF fees and
charges for 2021/22 (Paragraphs 3.56-3.63 and
Appendices C1-C5 of the report) be
That the policy on GF contingency and reserves,
including the target level of GF balances, and the movements
to/from earmarked reserves assumed as part of the 2021/22 revenue
budget (Paragraphs 3.64-3.72 and Table 7 of the report) be approved and recommended to
That the Section 151 Officer be delegated
responsibility for any technical adjustments required to be made to
the 2021/22 budget (in line with the council’s Financial
Regulations) be approved and recommended to Council.
That centrally held demographic growth funding be
allocated to service budgets if and when the need materialises and
approved by the Section 151 Officer. (Paragraph 3.9 of the report)
be approved and recommended to Council.
The HRA Budget and MTFS (Section 4)
That the balanced HRA 2021/22 budget be approved and
recommend to Council, and the latest estimates over the 3-year MTFS
period be noted (Paragraphs 4.1-4.3, Table 8
and Appendix D1 of the report).
k) That the HRA rents and other HRA fees and charges for 2021/22 (Paragraphs 4.4-4.30, Tables 9-12 and Appendix D2 of the report) be approved.
Capital Investment and Treasury and Investment
Management (Section 5)
That the draft 2021/22 to 2023/24 capital programme,
including investment in projects related to the council’s net
zero carbon priority, be approved and recommend to Council, and the
latest indicative capital programme for 2024/25 to 2030/21 be noted
(Paragraph 5.1-5.5, Table
13 and Appendix E of the report).
That the estimated funding of the 2021/22 to 2023/24
capital programme be noted, and 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 be agreed and recommended to Council (Paragraphs 5.6-5.7 and Table 14 of
That the final version of the budget report to the
Executive on 11 February 2021 and Full Council on 25 February 2021
will include the Capital Strategy, Treasury Management Strategy and
Investment Strategy, be noted (Paragraph 5.8 of
Council Tax and Retained Business Rates (Section 6)
That the detailed, statutory council tax
calculations and the recommendations for the final 2021/22 council
tax, including the GLA precept, will be included for agreement in
the final budget report to the Executive on 11 February 2021 and
Full Council on 25 February 2021 be noted (Paragraphs 6.1-6.2 of the report).
That authority be delegated to the Section 151
Officer to finalise the council’s 2021/22 NNDR1 (detailed
business rates) estimate ahead of the 31 January 2021 statutory
deadline be agreed (Paragraph 6.3 of the
That if applicable, any matters relating to the
London Business Rates Retention (Non-Pilot) Pool in 2021/22 will be
included for agreement in the final budget report to the Executive
on 11 February 2021 and Council on 25 February 2021 be noted
(Paragraphs 6.5-6.6 of the report).
That the significant funding risk for the council in
relation to Material Changes in Circumstances business rates
appeals due to COVID-19 (Paragraphs 6.7-6.9 of the
report) be noted.
Matters to Consider in Setting the Budget (Section 7)
That the Section 151 Officer’s report on the
robustness of the estimates included in the budget and the adequacy
of the proposed financial reserves would be considered when making
decisions about the budget and the level of council tax, as
required under Section 25(2) of the Local Government Act 2003 be
agreed (Paragraphs 7.1-7.9 of the
That the Monitoring Officer comments be noted
(Paragraphs 7.10-7.14 of the
That the Equality Impact Assessment (Paragraphs 7.15-7.17 and Appendix F of
the report) be noted and to fully take account of it in
approving the overall budget and related proposals.
v) That the council is inviting business rate payers or representatives of business rate payers in Islington to comment on the draft 2021/22 budget proposals in this report, as required under Section 65 of the Local Government Finance Act 1992 be noted (Paragraphs 7.18-7.20 of the report).
Reasons for decision – to allow members to set the budget
Other options considered – none
Conflicts of interest / dispensations granted – none
- Draft Budget Report 2021-22_Executive 21.1.21, item 777. PDF 329 KB
- Appendix A - General Fund Medium-Term Financial Strategy 2021/22 to 2023/24, item 777. PDF 174 KB
- Appendix B - Savings Proposals, item 777. PDF 188 KB
- Appendix C - Fees & Charges, item 777. PDF 4 MB
- Appendix D - HRA MTFS & Fees and Charges, item 777. PDF 406 KB
- Appendix E - Capital Programme, item 777. PDF 420 KB
- Appendix F - Budget Equality Impact Assessment, item 777. PDF 693 KB