Agenda item

This report also incorporates the annual budget for the London Boroughs Grants Committee.

AGREED RECOMMENDATIONS

Reasons for decision – to agree draft proposals in respect

of the council’s 2022/23 budget and level of council tax and the latest assumed mediumterm financial position.
Other options considered - none
Conflicts of interest / dispensations granted - none

RESOLVED:

The General Fund Budget 2022/23 and MTFS (Section 3 of the report)

a)              That the latest assumed MTFS and balanced 2022/23 budget, including the underlying principles and assumptions, be agreed and recommended to Full Council. (Paragraphs 3.1-3.38, Table 1 and Appendix A of the report) 

b)              That the proposed 2022/23 net budgets by directorate be agreed and recommended to Full Council. (Paragraph 3.3, Table 2 and Appendix A of the report)

c)              That the annual budget for the London Councils Grants Committee be agreed and to note that this will be reported to the VCS Committee on 25 January 2022 for information. (Paragraph 3.22-3.23 of the report)

d)              That the 2022/23 savings be agreed and recommended to Full Council, and to note that individual savings may be subject to individual consultation before they can be implemented. (Paragraphs 3.39-3.43, Table 5, and Appendix B of the report)

e)              That the Dedicated Schools Grant (DSG) settlement for 2022/23 and related funding assumptions be noted. (Paragraphs 3.44-3.49 of the report)

f)                That the fees and charges policy and the General Fund fees and charges for 2022/23 be agreed (Paragraphs 3.50-3.57 and Appendix C of the report)

g)              That the policy on General Fund contingency and reserves be agreed and recommended to Full Council, and the movements to/from earmarked reserves assumed as part of the 2022/23 revenue budget be agreed. (Paragraphs 3.58-3.67 and Table 6 of the report)

h)              That the Section 151 Officer be delegated responsibility for any technical adjustments required for the 2022/23 budget (in line with the council’s Financial Regulations) be agreed and recommended to Full Council.

i)                That centrally held gross demographic growth be allocated to service budgets if and when the need materialises and be approved by the Section 151 Officer, be agreed and recommended to Full Council.  (Paragraph 3.14 of the report)

The HRA Budget and MTFS (Section 4 of the report)

j)                That the balanced HRA 2022/23 budget be agreed and recommended to Full Council, and the latest estimates over the 3-year MTFS period be noted. (Paragraphs 4.1-4.3, Table 7 and Appendix D1 of the report)

k)              That the HRA rents and other HRA fees and charges for 2022/23 be agreed. (Paragraphs 4.4-4.29, Tables 8-10 and Appendix D2 of the report)

l)                That the introduction of a points-based apportionment method from April 2022 to revise the way in which Housing Leaseholder Service Charges are calculated be agreed. (Paragraph 4.9, and Appendix D3 of the report)

m)            That it be noted that the HRA 30-year business plan will be updated (Paragraph 4.2 of the report)

Capital Investment and Treasury and Investment Management (Section 5)

n)              That the proposed 2022/23 to 2024/25 capital programme be agreed and recommended to Full Council, and the latest indicative capital programme for 2025/26 to 2031/32 be noted. (Paragraphs 5.3, Table 11 and Appendix E1 of the report)

o)              That the estimated funding of the 2022/23 to 2024/25 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. (Paragraph 5.10 and Table 12 of the report)

p)              That it be noted that the final version of the budget report to the Executive on 10 February 2022 and to Full Council on 3 March 2022 will include the Capital Strategy, Flexible Use of Capital Receipts Policy, Minimum Revenue Provision (MRP) Policy Statement, Treasury Management Strategy and Investment Strategy. (Paragraph 5.12 of the report)

Council Tax and Retained Business Rates (Section 6 of the report)

q)              That it be noted that the detailed, statutory council tax calculation and the recommendations for the final 2022/23 council tax, including the GLA precept, will be included for agreement in the final budget report to the Executive on 10 February 2022, and Full Council on 3 March 2022. (Paragraph 6.1-6.2 of the report)

r)                That authority be delegated to the Section 151 Officer to finalise the council’s 2022/23 NNDR1 (detailed business rates) estimate ahead of the 31 January 2022 statutory deadline be agreed. (Paragraph 6.3)

Matter to Consider in Setting the Budget (Section 7 of the report)

s)              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, be agreed. (Paragraphs 7.1-7.6 of the report)

t)                That the Monitoring Officer comments be noted. (Paragraphs 7.7-7.11 of the report)

u)              That the Equality Impact Assessment be noted (Paragraphs 7.12-7.14 and Appendix F of the report) and to take fully account of it in approving the overall budget and related proposals.

v)              That it be noted that the council is inviting business rate payers or representatives of business rate payers in Islington to comment on the draft 2022/23 budget proposals in this report, as required under Section 65 of the Local Government Finance Act 1992. (Paragraphs 7.15-7.17 of the report)

Reasons for decision – to agree draft proposals in respect

of the council’s 2022/23 budget and level of council tax and the latest assumed mediumterm financial position.
Other options considered - none
Conflicts of interest / dispensations granted - none