At its meeting on 3 February 2016 the Executive Committee considered the 2016/17 budget and RECOMMENDED TO COUNCIL:

i.       That a net budget of £9,663,342 be APPROVED.

ii.      That a Band D Council Tax of £104.36, an increase of £5.00 per annum, be             APPROVED.

iii.     That the use of New Homes Bonus, as proposed in Paragraph 3.5 of the report, be APPROVED.

iv.     That the capital programme, as proposed in Appendix A to the report, be APPROVED.

v.      That the capital prudential indicators, as proposed in Appendix B to the report, be     APPROVED.

vi.     That the annual Minimum Revenue Provision (MRP) statement, as contained in      Appendix B to the report, be APPROVED.

vii.    That the mid-year 2015/16 Treasury Management update, as contained in Appendix C        to the report, be APPROVED.

viii.   That the 2016/17 Treasury Management Strategy, as proposed in Appendix D to the           report, be APPROVED.

ix.     That authority be delegated to the Finance and Asset Management Group Manager, in consultation with the Lead Member for Finance and Asset Management, to apply to the Government for a four year Settlement if he believes it to be in the best interests of the Council. 

(If a Councillor intends to move a Motion or Amendment in relation to the Council’s annual budget, the text of the proposed Motion or Amendment must be submitted in writing to the Borough Solicitor by 9.00am on the working day preceding the day of the Council meeting).

(NB: Please remember that, in line with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, decisions on the budget MUST be a recorded vote).

70.6           At its meeting on 3 February 2016 the Executive Committee considered the 2016/17 budget and recommended to Council i) that a net budget of £9,663,342 be approved; ii) that a Band D Council Tax of £104.36, an increase of £5.00 per annum, be approved; iii) that the use of New Homes Bonus, as proposed in Paragraph 3.5 of the report, be approved; iv) that the capital programme, as proposed in Appendix A to the report, be approved; v) that the capital prudential indicators, as proposed in Appendix B to the report, be approved; vi) that the annual Minimum Revenue Provision (MRP) statement, as contained in Appendix B to the report, be approved; vii) that the mid-year 2015/16 Treasury Management update, as contained in Appendix C to the report, be approved; viii) that the 2016/17 Treasury Management Strategy, as proposed in Appendix D to the report, be approved; ix) that authority be delegated to the Finance and Asset Management Group Manager, in consultation with the Lead Member for Finance and Asset Management, to apply to the Government for a four year Settlement if he believes it to be in the best interests of the Council. 

70.7           The report that had been considered by the Executive Committee had been circulated with the Agenda for the current meeting at Pages No. 26-69.

70.8           The recommendation from the Executive Committee was proposed and seconded and the Lead Member expressed his thanks to the Transform Working Group and the Finance Team for their hard work in putting together a balanced budget in such difficult circumstances.

70.9           In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, voting on the proposal was recorded as follows:

70.10            Accordingly, it was

                  RESOLVED          i.  That a net budget of £9,663,342 be APPROVED.

                                                ii. That a Band D Council Tax of £104.36, an increase of £5.00                                   per annum, be APPROVED.

                                                iii. That the use of New Homes Bonus, as proposed in                                                   Paragraph 3.5 of the report, be APPROVED.

                                                iv. That the capital programme, as proposed in Appendix A to                                      the report, be APPROVED.

                                                v.  That the capital prudential indicators, as proposed in                                                 Appendix B to the report, be APPROVED.

                                                vi.  That the annual Minimum Revenue Provision (MRP)                                               statement, as contained in Appendix B to the report, be                                APPROVED.

                                                vii.  That the mid-year 2015/16 Treasury Management update,                                       as contained in Appendix C to the report, be APPROVED.

                                                viii. That the 2016/17 Treasury Management Strategy, as                                               proposed in Appendix D to the report, be APPROVED.

                                                ix.   That authority be delegated to the Finance and Asset                                               Management Group Manager, in consultation with the                                               Lead Member for Finance and Asset Management, to                                                    apply to the Government for a four year Settlement if he                                        believes it to be in the best interests of the Council.