Issue - meetings

Report of the Cabinet Member Finance and Community Development

RESOLVED THAT:

1. The budget setting timetable at Appendix 2 be approved subject to the inclusion of an additional provisional Cabinet budget meeting on 21 December 2010.

2. The estimated funding gap for 2011/12 of £2.6m at Appendix 3, based upon a freeze in council tax increase be noted.

3. The budget strategy outlined in section 5 be approved.

The Cabinet Member for Finance and Community Development introduced the report which proposed a broad strategy and outlined a process for setting the budget, housing rents and council tax for 2011/12. It outlined a number of principles that need to be established at this stage to enable budget preparation to commence.

He advised that the figures in the report had been based on a cut in Government support of 25% over the period of the MTFS.  This had been borne out by the announcement in the Comprehensive Spending Review (CSR) which set out a 26% reduction over four years. The CSR also confirmed financial support for councils to support the freeze in council tax over the next four years but he awaited the final details of the settlement. He indicated that he was not hopeful that the £1 million additional cost to the council of concessionary fares would be paid back.

Referring to the timetable, he announced that a provisional Cabinet meeting had been included for the 21 December 2010. The settlement figures from Government were expected in early December but this provisional date would be contingency if there was any delay.

RESOLVED THAT:

1. The budget setting timetable at Appendix 2 be approved subject to the inclusion of an additional, provisional Cabinet meeting on 21 December 2010.
   
   
2. The estimated funding gap for 2011/12 of £2.6m at Appendix 3, based upon a freeze in council tax increase be noted.

3. The budget strategy outlined in section 5 be approved.