Agenda item

9.1

The Executive Director, Resources submitted a report to recommend that the Cabinet request Full Council to:-

·         approve the City Council’s revenue budget for 2019/20, including the position on reserves and balances;

·         approve a 2019/20 Council Tax for the City Council; and

·         note the levies and precepts made on the City Council by other authorities.

9.2

RESOLVED: That Cabinet recommends to the meeting of the City Council on 6 March 2019:-

(a)

to approve a net Revenue Budget for 2019/20 amounting to £403.291m;

(b)

to approve a Band D equivalent Council Tax of £1,559.18 for City Council services, i.e. an increase of 2.99%;

(c)

to approve the Council Tax charges in respect of Long Term Empty properties, as outlined from paragraph 51 of the report, with effect from 1 April 2019;

(d)

to note that the Section 151 Officer has reviewed the robustness of the estimates and the adequacy of the proposed financial reserves, in accordance with Section 25 of the Local Government Act 2003; and that further details can be found in Appendix 4 and within the Section 25 Statutory Statement on Sustainability of Budget and Level of Reserves from paragraph 6 of the report;

(e)

to approve the savings as set out in Appendix 2 of the report;

(f)

to approve the revenue budget allocations for each of the services, as set out in Appendices 3a to 3d of the report;

(g)

to note that, based on the estimated expenditure level set out in Appendix 3 to the report, the amounts shown in part B of Appendix 6 of the report would be calculated by the City Council for the year 2019/20, in accordance with sections 30 to 36 of the Local Government Finance Act 1992;

(h)

to note the information on the precepts issued by the South Yorkshire Police & Crime Commissioner and of South Yorkshire Fire & Rescue Authority, together with the impact of these on the overall amount of Council Tax to be charged in the City Council’s area;

(i)

to approve the proposed amount of compensation to Parish Councils for the loss of Council Tax income in 2019/20 at the levels shown in the table below paragraph {tbc};

(j)

to note the latest 2018/19 budget monitoring position;

(k)

to approve the Treasury Management and Annual Investment Strategies set out in Appendix 7 of the report and the recommendations contained therein;

(l)

to approve the Minimum Revenue Provision (MRP) Policy set out in Appendix 7; which takes into account the revisions proposed for 2018/19 onwards;       

(m)

to agree that authority be delegated to the Executive Director, Resources to undertake Treasury Management activity, to create and amend appropriate Treasury Management Practice Statements and to report on the operation of Treasury Management activity on the terms set out in these documents;

(n)

to note the information provided on the medium term financial outlook contained within the Medium Term Financial Analysis, attached as Appendix 10 to the report;

(o)

to approve a Pay Policy for 2019/20 as set out in Appendix 8 of the report; and

(p)

to agree that the Members’ Allowances Scheme for 2017/18 and onwards, approved on 3 March 2017, and implemented for 2018/19, be also implemented for 2019/20.

9.3

Reasons for Decision

9.3.1

The City Council on 6 March 2019 meets to consider the Revenue Budget for 2019/20 and to determine the Council Tax for that year.  The report provides information to enable the Council to set a budget and determine the Council Tax.  The proposals set out in this report provide for a balanced budget to be recommended to Council. 

9.4

Alternatives Considered and Rejected

9.4.1

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members.  The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

9.5

Any Interest Declared or Dispensation Granted

None

9.6

Reason for Exemption if Public/Press Excluded During Consideration

None

9.7

Respective Director Responsible for Implementation

Eugene Walker, Executive Director, Resources

9.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

N/A

(Note: This is subject to approval at Full Council at its meeting to be held on 6 March 2019 and is not subject to call-in).

9.1

The Executive Director, Resources submitted a report to recommend that the Cabinet request Full Council to:-

·         approve the City Council’s revenue budget for 2019/20, including the position on reserves and balances;

·         approve a 2019/20 Council Tax for the City Council; and

·         note the levies and precepts made on the City Council by other authorities.

9.2

RESOLVED: That Cabinet recommends to the meeting of the City Council on 6 March 2019:-

(a)

to approve a net Revenue Budget for 2019/20 amounting to £403.291m;

(b)

to approve a Band D equivalent Council Tax of £1,559.18 for City Council services, i.e. an increase of 2.99%;

(c)

to approve the Council Tax charges in respect of Long Term Empty properties, as outlined from paragraph 51 of the report, with effect from 1 April 2019;

(d)

to note that the Section 151 Officer has reviewed the robustness of the estimates and the adequacy of the proposed financial reserves, in accordance with Section 25 of the Local Government Act 2003; and that further details can be found in Appendix 4 and within the Section 25 Statutory Statement on Sustainability of Budget and Level of Reserves from paragraph 6 of the report;

(e)

to approve the savings as set out in Appendix 2 of the report;

(f)

to approve the revenue budget allocations for each of the services, as set out in Appendices 3a to 3d of the report;

(g)

to note that, based on the estimated expenditure level set out in Appendix 3 to the report, the amounts shown in part B of Appendix 6 of the report would be calculated by the City Council for the year 2019/20, in accordance with sections 30 to 36 of the Local Government Finance Act 1992;

(h)

to note the information on the precepts issued by the South Yorkshire Police & Crime Commissioner and of South Yorkshire Fire & Rescue Authority, together with the impact of these on the overall amount of Council Tax to be charged in the City Council’s area;

(i)

to approve the proposed amount of compensation to Parish Councils for the loss of Council Tax income in 2019/20 at the levels shown in the table below paragraph {tbc};

(j)

to note the latest 2018/19 budget monitoring position;

(k)

to approve the Treasury Management and Annual Investment Strategies set out in Appendix 7 of the report and the recommendations contained therein;

(l)

to approve the Minimum Revenue Provision (MRP) Policy set out in Appendix 7; which takes into account the revisions proposed for 2018/19 onwards;       

(m)

to agree that authority be delegated to the Executive Director, Resources to undertake Treasury Management activity, to create and amend appropriate Treasury Management Practice Statements and to report on the operation of Treasury Management activity on the terms set out in these documents;

(n)

to note the information provided on the medium term financial outlook contained within the Medium Term Financial Analysis, attached as Appendix 10 to the report;

(o)

to approve a Pay Policy for 2019/20 as set out in Appendix 8 of the report; and

(p)

to agree that the Members’ Allowances Scheme for 2017/18 and onwards, approved on 3 March 2017, and implemented for 2018/19, be also implemented for 2019/20.

9.3

Reasons for Decision

9.3.1

The City Council on 6 March 2019 meets to consider the Revenue Budget for 2019/20 and to determine the Council Tax for that year.  The report provides information to enable the Council to set a budget and determine the Council Tax.  The proposals set out in this report provide for a balanced budget to be recommended to Council. 

9.4

Alternatives Considered and Rejected

9.4.1

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members.  The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.