Agenda item

Agreed

7

Opposed

0

Abstentions

5

1.    Consider the issues that have emerged so far from the consultation outcomes when making their decisions.  Consultation closed on 11 February.  Due to the timings of compiling this report, the consultation report appended at Appendix B is presented as an interim report.  A final consultation  report will be reported to Full Council on 3 March, to inform final decisions on the council’s budget; 

2.    Recommend to Council for approval the MTFS attached at Appendix C and the Detailed Revenue Budgets at Appendix D1 and D2.  The MTFS sets out all of the budget changes over the period from 2015/16 to 2019/20, including assumptions around inflation, changes to levies, pressures, savings and grant funding.  It is the model around which the council’s financial strategy is based.  It should be noted that the budget has been prepared on the basis of a Council Tax freeze in 2015/16.  Overall the 2015/16 budget requirement totals £250,888,653.

3.     Note that the Chief Finance Officer under his delegated powers in accordance with para 4.3.2 of the Financial Regulations has calculated the amount of 132,151 (band D equivalents) as the Council Tax base for the year 2015/16 [ item T in the formula in Section 31B (3) of the Local Government Finance Act 1992, as amended (the “Act”)];

4.    Note that the Council Tax requirement for the Council’s own purposes for 15/16 (excluding precepts) is £145,639,653.

5.    Recommend to Council for approval the following amounts be now calculated for the year 2015/16 in accordance with Sections 31(A) and (B), 34, 35 and 36 of the Act:

a)    £889,167,167 being the aggregate of the amounts which the council estimates for the items set out in the Section 31A(2) (a) to (f) of the Act taking into account all precepts issued to it by precepting authorities.

b)   £743,527,514 being the aggregate of the amounts which the council estimated for the items set out in Section 31A(3) (a) to (d) of the Act.

c)    £145,639,653 being the amount by which the aggregate at 5 (a) above exceeds the aggregate at 5(b) above, calculated by the council in accordance with Section 31A(4) of the Act as its Council Tax requirement for the year (Item R in the formula section 31A(4) of the Act).

d)   £1,102.07 being the amount at 5(c) above (item R), all divided by Item T (Item 4 above), calculated by the council, in accordance with Section 31B(1) of the Act, as the basic amount of its Council Tax for the year (excluding precepts).

e)    The Chief Finance Officer recommends that the council’s basic amount of Council Tax for 2015/16 is not excessive in accordance with the principles approved under section 52ZB and 52ZC of the Local Government Finance Act 1992, and the Referendums Relating to Council Tax Increases (Principles) Report (England) 2015/2016. £1,102.07 being the amount at 4 above divided by the amount at 3 above, calculated by the council, as the basic amount of its Council Tax for the year 2015/16;

London Borough of Barnet Valuations Bands (£)

Being the amounts given by multiplying the amounts at 6(d) above by the number which, in proportion set out in Section 5(1) of the Act, is applicable to dwellings listed in valuation band D, calculated by the council, in accordance with Section 36(1) of the Act, as the amounts to be taken into account for the year in respect of categories of dwellings listed in different valuation bands

6.    Note that for the year 2015/16 the Greater London Authority has provisionally indicated that the following amounts in precepts will be issued to the council, in accordance with Section 40 of the Local Government Finance Act 1992, for each of the categories of the dwellings shown below:

Greater London Authority Valuations Bands (£)

7.    That having calculated the aggregate in each case of the amounts at 6(d) and 7 above, the council, in accordance with Section 30(2) of the Local Government Finance Act 1992, hereby sets the following amounts as the amounts of Council Tax for the year 2015/16 for each of the categories dwellings shown below:

Council Tax for Area (£)

8.    Recommend to Council that in accordance with Section 38(2) of the Act the Chief Executive be instructed to place a notice in the local press of the amounts set under recommendation 8 above within a period of 21 days following the Council’s decision.

9.    Recommend to Council for approval the capital programme as set out in Appendix E and addition in para 2.6.3, and that the Chief Officers be authorised to take all necessary actions for implementation.  That Committee recommend to Council that the Chief Finance Officer be authorised to adjust capital project budgets in 2015/16 throughout the capital programme after the 2014/15 accounts are closed and the amounts of slippage and budget carry forward required are known.

10.Recommend to Council that the Chief Finance Officer be authorised to adjust capital project budgets in 2015/16 throughout the capital programme after the 2014/15 accounts are closed and the amounts of slippage and budget carry forward required are known.

11.Recommend to Council for approval the Treasury Management Strategy for 2015/16 as set out in Appendix F.

12.Approve the following

a)    The proposed rent increase of CPI plus 1% for council dwellings as set out in paragraph 2.8.6 to take effect from 1 April 2015;

b)   The proposed increase to service charges for council dwelling as set out in paragraph 2.8.7 to take effect from 1 April 2015;

c)    The proposed rent increase of 2% for council garages as set out in paragraph 2.8.10 to take effect from 1 April 2015,

13.Approve the Housing Revenue Account estimates for 2015/16 as set out in Appendix G.

14.Note the Equality Impact Assessment and cumulative assessment included in Appendix H.  A summary is set out in section 9 of this report.  The appendix provides the cumulative impact and individual Delivery Unit assessments where significant changes to service delivery are proposed.

15.Recommend to Council to approve the Reserves and Balances Policy as set out in Appendix I and the Chief Finance Officer’s assessment of adequacy of reserves in section 2.10.  This states that the minimum level of General Fund balances should be £15m after taking account of all matters set out in the Chief Finance Officer’s report on reserves and balances.

16.Recommend to Council to note the Corporate Risk Register as set out in Appendix J.

17. Recommend to Council from reserves and budgetary movement as set out in paragraph 2.2.1, 2.2.2 and saving amendments in paragraph 2.2.4.

18.Recommend to Council to approve the write offs in Appendix A.

19.Note the Submission of the Authority Proforma Tool