Issue details
2021/22 Budget Setting
To agree the draft 2021/22 budget and associated medium term financial strategy and treasury management strategy for recommendation to Council on 12 February.
The proposed budget reflects current and expected service delivery requirements and the provisional local government settlement announced on 17 December. Overall the base budget for 2021/22 is proposed to increase to fund budget pressures. Savings of £11.2m are required in 2021/22 and an increase in council tax of 4.99% (inclusive of 3% adult social care precept) is proposed to deliver a balanced budget.
The draft medium term financial strategy (MTFS), attached at appendix A, has been updated to reflect current assumptions on future years funding and service requirements in line with the County Plan.
The treasury management strategy, attached at appendix D, includes the proposed borrowing and investment strategy, the council’s expected minimum revenue provision and the associated prudential indicators which demonstrate that the council’s proposed capital investment budget is affordable, prudent and sustainable
Decision type: Budget and policy framework
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 21/12/2020
Decision due: 12 February 2021 by Council
Considered on: 28 January 2021 by Cabinet
Lead member: Cabinet member corporate strategy and budget
Lead director: Chief finance officer
Department: Corporate Support Centre
Contact: Josie Rushgrove, Head of corporate finance Email: jrushgrove@herefordshire.gov.uk Tel: 01432 261867.
Agenda items
- 28/01/2021 - Cabinet 2021/22 Budget Setting 28/01/2021
- 12/02/2021 - Council 2021/22 BUDGET SETTING 12/02/2021
Documents
- 2021/22 Budget Setting