Issue - meetings
Service & Financial Planning Strategy 2021/22
Meeting: 18/02/2021 - Cabinet (Item 50)
50 Service & Financial Planning Strategy 2021/22 PDF 1 MB
Additional documents:
- Appendix 1 - Midlands council tax comparisons, item 50 PDF 193 KB
- Appendix 2 - Unitary Council Tax Comparisons, item 50 PDF 295 KB
- APPENDIX 3 - Strategic Risk Register, item 50 PDF 355 KB
- APPENDIX 4 -Savings Delivered to Date, item 50 PDF 135 KB
- Appendix 5 - Financing Costs as % or net revenue stream, item 50 PDF 76 KB
- Appendix 6 - Base Budget 21 22, item 50 PDF 129 KB
- Appendix 7 - Analysis of Bae Budget Movements, item 50 PDF 85 KB
- APPENDIX 8 - Education s.106 Agreements, item 50 PDF 139 KB
- Appendix 9 - Reserves Provisions, item 50 PDF 83 KB
- Appendix 9 - detail, item 50 PDF 210 KB
- Appendix 10 - CFOs Robustness Statement 2021 22, item 50 PDF 428 KB
- Appendix 11 - Safeguarding cost improvement strategy, item 50 PDF 393 KB
- Appendix 12 - ASC Cost Improvement Strategy, item 50 PDF 300 KB
- APPENDIX 13 - New savings proposals to be delivered 2021 22 - 2022 23, item 50 PDF 253 KB
- Appendix 14 - Council Tax Reduction Scheme and Hardship Assistance Policy (Effective from April 2020), item 50 PDF 183 KB
- Appendix 15 - Pay Policy Statement for 2021 22, item 50 PDF 478 KB
- Appendix 16 - Efficiency Strategy, item 50 PDF 604 KB
- Capital_strategy 2021 - 22, item 50 PDF 1 MB
- Capital Programme 21.22, item 50 PDF 614 KB
- Capital Programme 21.22 Annex Ia, item 50 PDF 102 KB
- Capital Programme 21.22 Annex Ib, item 50 PDF 106 KB
- Capital Programme 21.22 Annex II - Planned Building Maintenance Programme, item 50 PDF 283 KB
- Capital Programme 21.22 Annex III - Highways Programme, item 50 PDF 282 KB
- INVEST STRATEGY 2021 22, item 50 PDF 505 KB
- TM STRATEGY 2122, item 50 PDF 953 KB
- Prudential indicators 21.22, item 50 PDF 287 KB
Minutes:
Reserved for Council
Councillor R C Evans, Cabinet Member: Council Finance & Governance, presented a series of reports of the Chief Executive and the Chief Financial Officer. The reports, detailed the Revenue Budget, medium term Capital Strategy and Programme, the Investment and Treasury Management Strategies and Prudential Indicators. In October 2020, the Council’s Cabinet agreed a refreshed Council Plan to deliver the organisation’s vision to “Protect, Care and Invest to Create a Better Borough”.
On 5 March 2020 the Council approved a one year service and financial planning strategy for the current financial year. The strategy was set after more than 10 years of severe financial constraint from the Governments austerity programme. During this 10 year period, the Council had made ongoing savings of £126.4m in order to set a balanced budget, at a time where there was a growing demand for services.
The Council agreed a one year budget strategy for 2020/21 as the Government had proposed to make major changes to the local government finance system, however, due to the Covid-19 pandemic, this has been postponed and the spending review announced on 25 November 2020 covered a period of one year.
In view of this significant uncertainty over the future of local government finance and what resources may be available to the Council beyond the following year, and the uncertainties caused by Covid-19, a one year service and financial planning strategy for 2021/22 is again proposed. However, because capital projects needed to be planned over a longer time horizon new capital investment proposals were included for 2021/22 and the following two years.
The report identified key strategies including:-
· Increasing Council Tax for 2021/22 by 1.99% and that the Government’s additional 3% “Adult Social Care precept” be applied. This gave a total increase of 4.99%, raising £3.64m in total.
· Doubling the provision of the Council Tax Reduction Hardship Assistance Scheme to help residents who need support during this time.
· The Adult Social Care precept would raise £2.188m which would be fully invested into Adult Social Care Services.
· Extra investment of £1m spread over to 2021/22 and 2022/23 to support crime an anti-social behaviour initiatives.
· A packet of budget savings, including additional income generated by the Council’s commercial activities, totalling £5.9m in 2021/22, rising to £7.139m in 2022/23.
· Prudent use of £0.173m of available revenue balances to ensure a balanced budget for 2021/22.
· A programme of capital investments totalling more than £228.532m as set out in the Capital Strategy and Capital Programme reports which included:-
· £65.3m investment into NuPlace, the Council’s wholly owned housing company.
· £40.7m for highways and transport schemes, including improvements to the A442 and funding for repair of potholes, footways and drainage schemes.
· £25.7m for education capital projects, including an expansion project for secondary school places in the Borough.
· £9.95m into the Stronger Communities Programme, focused on bringing brownfield sites back into use, and providing a stimulus for the delivery of the Station Quarter.
· £9.65m investment into the Council’s Property Investment portfolio, which will attract new jobs ... view the full minutes text for item 50