Decision details

To consider the financial planning framework for the consideration of forthcoming budget proposals and plans, informed by updated forward spend and funding forecasts.

1. That the funding and spend assumptions informing the updated budget forecasts as set out in section 2.3 to 2.15 of the report be noted

2. That the current and forecast earmarked reserves and general balances as set out at Appendix B be noted

3. That the corporate budget timetable and approach set out at Appendix F be noted.

4. That the report be submitted to Council on 21 October 2020 with a recommendation:

(i) That the revised Minimum Revenue Provision Policy as set out in Section 2.14 of the report be approved

(ii) That the decision on preferred option for Business Rates Pool arrangements for 2021/22 to be delegated to the Chief Executive and Service Director – Finance, in consultation with the Leader and Corporate Portfolio holder, as per Section 2.4 of the report be approved

(iii) That the updated multi-year capital budget plans as set out at Appendix D be approved

(iv) That the flexible capital receipts strategy set out in Section 2.17 of the report be approved

(v) That the financial planning framework set out in Section 1.4 of the report be approved

(vi) That the budget consultation approach and timetable set out in Section 3 of the report be approved.