Agenda and decisions

Venue: Committee Rooms 1 & 2 - Deanes. View directions

Contact: Democratic Services Team 

Link: Video Recording

Items
No. Item

1.

Apologies for absence

2.

Declarations of interest

3.

Urgent matters

To consider any items of business, other than those shown on this agenda and which, by reason of special circumstances to be stated at the meeting, in the opinion of the Chairman, should be considered at the meeting as a matter of urgency.

 

5.

Proposals for the Policy and Budget Framework - 2019/20 Budget Report pdf icon PDF 5 MB

This report provides a summary of the Cabinet’s revenue and capital budget proposals for 2019/20 which supports delivery of the Council Plan and contains a forward financial forecast for 2020/21, 2021/22 and 2022/23.

 

Recommendation from the Cabinet Member for Finance, Service Delivery and Improvement

Additional documents:

Decision:

Recommend Council:

 

To note:

 

1.     The Chief Finance Officer’s (Head of Financial Services) statutory report regarding the robustness of the estimates and the adequacy of reserves detailed in section 12 of the report.

 

2.     That £394,700 of 2018/19 budget carry-forwards have been included in the 2019/20 budget for the Wordpress Website, Residents Survey, Local Plan, Smart City Initiatives and Leisure Park Development and this will reduce the 2018/19 budget accordingly.

 

3.     That the Head of Financial Services on the 3 January 2019 calculated the Council Tax base for the whole council area at 65,768.8 Band D equivalents and for dwellings in those parts of its area to which a parish precept relates as per Appendix 10 pf the report (available for final report to Council).

 

4.     The county, police and fire authority precepts detailed in Appendix 11 of the report (available for final report to Council).

 

5.     That as the billing authority, the Council has not been notified by any major precepting authority that its relevant basic amount of Council Tax for 2019/20 is excessive and the billing authority is therefore not required to hold a referendum, in accordance with section 52ZK of the Local Government Finance Act 1992.

 

6.     The risks and sensitivities within the financial forecasts highlighted in section 3 of Appendix 7 of the report.

 

7.     That the final government grant settlement figures may not be finalised before the budget is approved and therefore any adjustments to the final figures will be matched by contributions to the revenue reserves for capital purposes or from the Stability and Resilience Reserve.

 

To determine:

 

8.     That for the purposes of section 35 (2) (d) of the Local Government Finance Act 1992, any expenses incurred by the Borough Council in the financial year 2019/20 in performing functions in a part of the district which elsewhere in the district are performed by a Parish Council, shall not be special expenses of the Borough Council.

 

9.     That its relevant basic amount of Council Tax for 2019/20 (£121.42 at Band D) reflects a £5.00 (4.29%) increase which is not excessive in accordance with principles approved under Section 52ZB of the Local Government Finance Act 1992.

 

To approve:

 

10.  The net Council Tax requirement of £7.986 million for 2019/20 and the revenue estimates and contributions to and from reserves as summarised in Appendix 1 of the report and supported by the detailed supporting budget papers.

 

11.  The Medium Term Financial Forecast, as shown in Appendix 7 of the report.

 

12.  The financial policies set out in Annex A of Appendix 7 of the report including the re-naming of the Strategic Capital Reserve to the RRCP Housing Reserve – Manydown and extending the potential use of the Stability and Resilience Reserve to include mitigating the impact of economic pressures.

 

13.  The Capital Programme as set out in Appendix 9 of the report and supported by the detailed supporting budget papers.

 

14.  That the requirement for Council Tax for borough purposes for 2019/20 be £121.42 Band D  ...  view the full decision text for item 5.

6.

Treasury Management Strategy 2019/20 pdf icon PDF 301 KB

This report sets out the Treasury Management Policy Statement and proposed Treasury Management Strategy for 2019/20 which set the framework and limits for the delivery of the council’s Treasury Management Strategy.

 

This report accords with the council’s Policy and Budget Framework in that it sets out a strategy for achieving the 2019/20 budgeted treasury management investment income that is critical in providing the council with the resources necessary to deliver its objectives.

 

Recommendation from the Cabinet Member for Finance, Service Delivery and Improvement

Decision:

Note:

 

1.            The Treasury Management Strategy for 2019/20 (Set out in Appendix 2 of the report).

 

2.            The new Treasury Management Risk Indicators set out in section 5 of Appendix 2 of the report).

 

3.            That the Treasury Management Policy Statement (set out in Appendix 1 of the report) remains unchanged.

 

4.            The Chief Finance Officer (Head of Finance) comments on the level of risk set out in Section 13 of the report.

 

Recommend that Council notes:

 

5.            That the Treasury Management Policy Statement (set out in Appendix 1 of the report) remains unchanged.

 

6.            The new Treasury Management Risk Indicators set out in section 5 of Appendix 2 of the report).

 

7.            The Chief Finance Officer (Head of Finance) comments on the level of risk set out in Section 13 of the report.

 

Recommend that Council approves:

 

8.            The Treasury Management Strategy for 2019/20 (set out in Appendix 2 of the report).

 

7.

Capital Strategy and Investment Strategy (Non Treasury) for 2019/20 pdf icon PDF 400 KB

This report sets out the new Capital Strategy for 2019/20 and Investment Strategy (Non-Treasury) for 2019/20.

 

This report accords with the council’s Policy and Budget Framework in that it sets out the overall investment strategy for achieving the additional investment income targets set out in the budget report (property rents and interest) that is critical in providing the council with the resources necessary to deliver its objectives.

 

Recommendation from the Cabinet Member for Finance, Service Delivery and Improvement and the Cabinet Member for Property and Development

Decision:

Note:

 

1.     The Capital Strategy for 2019/20 (Appendix 1 of the report).

 

2.     The Investment Strategy (Non-Treasury) for 2019/20 (Appendix 2 of the report).

 

3.     The Chief Finance Officer (Head of Financial Services and Section 151 Officer) comments on the level of risk set out in Section 7 of the report.

 

Recommend that Council notes:

 

4.     The Chief Finance Officer (Head of Financial Services and Section 151 Officer) comments on the level of risk set out in Section 7 of the report.

 

Recommend that Council approves:

 

5.     The Capital Strategy for 2019/20 (Appendix 1 of the report) which includes:

 

i.   the Prudential Indicators for 2018/19 to 2021/22

ii. the Authorised Limit for External Debt of £50 million for 2019/20 (as set out in the prudential indicators) and

iii. the Annual Minimum Revenue Provision Statement for 2019/20

 

6.    The Investment Strategy (Non-Treasury) for 2019/20 (Appendix 2 of the report)

8.

Invest to Grow Business Plan - 2019/20 pdf icon PDF 415 KB

This report accords with the Invest to Grow Fund scheme of delegation which included a requirement for Cabinet approval of an annual business plan to support the delivery of the Invest to Grow Fund Strategy.

 

Recommendation from the Cabinet Member for Property and Development

Additional documents:

Decision:

1.  Note the comments of the Audit and Accounts Committee held on 28 January 2019.

 

2.  Agree the Invest to Grow Fund business plan for 2019/20 as set out in the report.

9.

Property Investment Strategy - Annual Property Plan 2019-20 pdf icon PDF 412 KB

This report sets out the proposed 2019/20 Annual Property Plan for the council’s property investment portfolio in pursuance of its agreed Property Investment Strategy, in support of the council’s Medium Term Financial Strategy consultation.  

 

Recommendation from the Cabinet Member for Property and Development

Additional documents:

Decision:

1.    Note the comments of the Audit and Accounts Committee held on 28 January 2019.

 

2.    Agree the Property Investment Strategy Annual Property Plan 2019-20.

 

3.    Recommend Council to agree that, if necessary, investment funds available for the Property Investment Strategy can be increased by up to £5 million funded from property receipts.

10.

Horizon 2050: The journey to 2050 pdf icon PDF 736 KB

The Basingstoke Area Strategic Partnership (BASP), working with Basingstoke and Deane Borough Council, has developed a long-term vision for the borough of Basingstoke and Deane up to 2050. This vision is called “Horizon 2050”.

 

This vision will provide the context for far-reaching policy decisions about the future, setting the direction for the council and other partners’ work. This report provides a summary of the findings from the research and engagement activities and the resulting Horizon 2050 vision.

 

Recommendation from the Leader of the Council

Additional documents:

Decision:

1.    Note the updates to the Horizon 2050 vision following final engagement.

 

2.    Endorse the Horizon 2050 vision ahead of adoption by council in February and BASP in March 2019.

 

3.    Recommend Council to adopt the Horizon 2050 vision.