Issue - decisions
Setting the 2019/20 budget and updating the medium term financial strategy and treasury management strategy
31/01/2019 - Setting the 2019/20 budget and updating the medium term financial strategy and treasury management strategy
That:
(a) the additional funding announced in the provisional settlement of £1.5m (£1.0m Rural Services Delivery Grant and £0.5m business rate levy account surplus) is added as a budget line for expenditure in 2019/20 as indicated in the table at paragraph 24, to support rural service delivery across the county;
(b) the following be recommended to Council;
a. the council tax base of 68,826.03 Band D equivalents
b. an increase in core council tax in 2019/20 of 2.9%
c. an additional precept in respect of adult social care costs of 2% applied to council tax in 2019/20 resulting in a total council tax increase of 4.9%; increasing the band D charge from £1,443.95 to £1,514.70 for Herefordshire Council in 2019/20;
d. the balanced 2019/20 revenue budget proposal totalling £151.0m, subject to any amendments approved at the meeting, specifically:
e. the net spending limits for each directorate as at appendix 3
f. delegates to the section 151 officer the power to make necessary changes to the budget arising from any variations in central government funding allocations via general reserves;
g. the medium term financial strategy (MTFS) 2019/2022 at appendix 1 be approved; and
h. the treasury management strategy at appendix 4 be approved, this includes ratifying including the top five UK building societies as approved investment counterparties.
(c) To establish a financial resilience reserve (as shown in paragraph 31), previously titled the minimum revenue provision reserve; and
(d) Approve responses to scrutiny committee’s recommendations as provided in paragraph 63.