Decision details

To consider the recommendations

RESOLVED THAT

Council be recommended to :

1.    Note the estimated position in respect of collection rates for council tax and business rates for 2020/21 (paras 3.37 to 3.44);

2.    Approve the revised Minimum Revenue Provision (MRP) policy as detailed in Appendix 2 (paras 4.12 to 4.16);

3.    Approve the revised capital programme with £1.7m capital receipts previously allocated to the High Street works to be reallocated to repaying the MRP as detailed in paras 4.19 to 4.20;

4.    Note the identified asset disposals as detailed in paras 4.22 to 4.29;

5.    Approve the virements as summarised in Appendix 3, in order to produce a balanced General Fund (GF) revised budget for 2020/21;

6.    It be noted that future budget monitoring reports will assess the position against this revised budget and further decisions may be required depending on the economic impact being experienced as the year progresses;

7.    Approve the additional budget and funding for Cyber Central (Golden Valley development) as set out in section 5;

8.    Approve the flexible use of capital receipts strategy as detailed in Appendix 4 (paras 5.21 to 5.26);

9.    Note the budget-setting timetable at Appendix 5 be approved, and the 2021/22 budget process outlined in section 6;

10.  Note the intention for this Council to remain in the Gloucestershire Business Rates Pool in 2021/22 as outlined in section 7, and it be noted that the Council reserves the right to withdraw after the local government finance settlement announcement;

11.  Approve the Housing Revenue Account (HRA) revised budget for 2020/21 as summarised in Section 8.