Medium Term Financial Strategy (Revenue and Capital)
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
To approve and recommend to Council:
• The MTFS including the Revenue Budget and Capital Programme.
• The MRP Policy.
• Treasury Management Strategy.
• Prudential Indicators.
Cabinet agreed to
1.1 Delegate responsibility to the Cabinet Member for Finance, Procurement, Customer Services and Revenues & Benefits and the Head of Finance and Procurement to identify and implement alternative funding sources within the approved budget framework to enable the early repayment of the Burntwood
Capital Investment of £979,000 in the event planned sources are not available.
Cabinet agreed to recommend to Council for approval
1.2 The 2021/22 Revenue Budget, including the Amount to be met from Government Grants and Local Taxpayers of £11,951,000 and a proposed level of Council Tax (the District Council element) for 2021/22 of £185.07 (an increase of £5.00 or 2.78%) for a Band D equivalent property.
1.3 The MTFS 2020-25 Revenue Budgets and 25 year Revenue Budget model.
1.4 The MTFS 2020-25 Capital Strategy including the 25 year capital investment model and the Capital Programme.
1.5 The Minimum Revenue Provision Statement for 2021/22, at APPENDIX D, which sets out the Council’s policy of using the asset life method for making prudent provision for debt redemption.
1.6 Treasury Management Strategy Statement for 2021/22 including proposed limits. The only change being proposed is based on Arlingclose advice to remove the £21m overall investment limit for Money Market Funds to manage credit and liquidity risk.
1.7 The plan to undertake a further Strategic Fund investment up to £2m.
1.8 The Investment Strategy Report (APPENDIX F) including the proposed limits for 2021/22.
1.9 The Capital and Treasury Prudential Indicators for 2020-25 in the financial implications section.
1.10 The Authorised Limit Prudential Indicator shown within the financial implications section.
1.11 The CFO’s report on the robustness of the Budget and adequacy of Reserves in compliance with the requirements and duties that the Local Government Act 2003 in relation to how the Authority sets and monitors its Budgets.
Report author: Anthony Thomas
Publication date: 10/02/2021
Date of decision: 09/02/2021
Decided at meeting: 09/02/2021 - Cabinet
- Medium Term Financial Strategy (Revenue and Capital)
- Item 5 - Medium Term Financial Strategy PDF 5 MB