Medium Term Financial Strategy (Revenue and Capital) 2019-24
Decision Maker: Cabinet
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
To approve and recommend to the Council:
The MTFS including the Revenue Budget and Capital Programme.
The MRP Policy.
Treasury Management Strategy.
The Cabinet recommend to Council for approval:
1.1 The 2020/21 Revenue Budget, including the Amount to be met from Government Grants and Local Taxpayers of £12,284,000 and a proposed level of Council Tax (the District Council element) for 2020/21 of £180.07 (an increase of £5.00 or 2.86%) for a Band D equivalent property.
1.2 The MTFS 2019-24 Revenue Budgets set out in Appendix A of the Cabinet report.
1.3 The MTFS 2019-24 Capital Strategy and Capital Programme (Appendices B & C of the Cabinet report).
1.4 The Minimum Revenue Provision Statement for 2020/21, at Appendix D of the Cabinet report, which sets out the Council’s policy of using the asset life method as the basis for making prudent provision for debt redemption.
1.5 Treasury Management Strategy Statement for 2020/21 including proposed limits (Appendix E of the Cabinet report).
1.6 The Investment Strategy Report (Appendix F of the Cabinet report) including the proposed limits for 2020/21.
1.7 The Capital and Treasury Prudential Indicators for 2019-24 in the financial implications section of the Cabinet report.
1.8 The Authorised Limit Prudential Indicator shown within the financial implications section of the Cabinet report.
1.9 The requirements and duties that the Local Government Act 2003 places on the Authority on how it sets and monitors its Budgets, including the CFO’s report on the robustness of the Budget and adequacy of Reserves shown in Appendix G of the Cabinet report.
That Cabinet notes and approves:
1.10 The plan to undertake further Strategic Fund investments up to £4m although this will be subject to the approval by Council of recommendations 1.5 to 1.7.
1.11 The longer term financial planning model shown at Appendix H of the Cabinet report.
Report author: Anthony Thomas
Publication date: 13/02/2020
Date of decision: 11/02/2020
Decided at meeting: 11/02/2020 - Cabinet