The Cabinet considered
Report No. FIN2106, which made recommendations on the budget, Council Tax
requirement and proposals for budget savings for 2021/22. Members noted that
the Report had been republished prior to the meeting to provide corrected
brought forward balances in respect of the Stability and Resilience Reserve and
other earmarked reserves/prior year grants.
The Cabinet was reminded
that the budget framework had been approved at its meeting on 13th October,
2020. The prospects for the Medium Term Financial Strategy, in the context of
ongoing pressures caused by the impact of Covid-19, had been considered at the
Cabinet meeting on 8th December, 2020. Members were advised that the Report had
been prepared on the basis that there would be no change to the provisional
local government finance settlement figure, which had been confirmed on 4th
February, 2021 but had been subject to a Parliamentary debate on 10th February,
2021. The Medium Term Financial Strategy continued to provide a risk-based
General Fund balance of £2 million being the minimum expected level for total
working balances. The Cabinet was advised that, despite the uncertainties
around levels of Government funding and the risks around Brexit and the general
economic position, the Council had been able to prepare a sound budget that
maintained services to residents. It was confirmed that the budget would also
provide a platform for the Council to address future challenges.
The Capital Programme
of £38.510 million in 2021/22 was set out in Appendix 3 of the Report. It was
explained that the Capital Programme was focussed on delivering against the
Council’s key priority of town centre regeneration, with further schemes aimed
at enhancing the delivery of core services through improvement and enhancement
of assets. The main areas where the Council would be facing increased levels of
risk and uncertainty over the medium term were set out in Section 8 of the
Report. Members were informed that the most significant risks were the
uncertainty around the level of local government funding provided by central
government, especially in light of the implementation of the Fair Funding Review
and ongoing pressures caused by Covid-19. In discussing the details of the Report,
it was confirmed to Members that the business case for the provision of a
visitor centre at the Southwood Country Park would be submitted to the Cabinet for
approval over the following months.
The Cabinet
(i)
RECOMMENDED TO THE COUNCIL that approval be given
to:
(a)
the Medium Term Financial Strategy, as set out
in Appendix 1 of Report No. FIN2106;
(b)
the additional items for inclusion in the
budget, as set out in Appendix 2 of the Report;
(c)
the Council Tax requirement of £6,927,715 for
this Council;
(d)
the Council Tax level for Rushmoor Borough
Council's purposes of £214.42 for a Band D property in 2021/22;
(e)
the Capital Programme, as set out in Appendix 3
of the Report;
(f)
the
Strategy for the Flexible Use of Capital Receipts, as set out in Appendix 4 of
the Report;
(g)
the
balances and reserves position, including proposed reserve transfers for
2021/22, as set out in Section 5 of the Report; and
(ii) RESOLVED that authority be delegated
to the Council’s Section 151 Officer, in consultation with the Leader of the
Council and the Corporate Services Portfolio Holder, to make any necessary
changes to the General Fund Summary arising from the final confirmation of the
Local Government Finance Settlement and the Business Rates Retention Scheme
estimates.
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