Decision details

The Portfolio Holder for Corporate Finance and Resources to provide a report on the Revenue Budget for 2021/22 including the proposed level of council tax for borough council purposes and the Medium Term Financial Strategy 2024/25.

Cabinet:

1)    NOTED the year end forecast and financial position for the General Fund and Special Expenses for 2021/22.

2)    RECOMMENDED to Council:

a)    The proposals for General Expenses and Special Expenses Melton Mowbray as set out in Appendix B (i) and (ii) and summarised in section 4.5 of the report be approved for inclusion in the 2022/23 budget resulting in the estimates set out in Appendix C;

b)    The revenue budget for 2022/23 for General and Special Expenses, as set out in Appendix C, be approved resulting in an overall council tax increase of £5, the individual council tax levels being as set out in paragraph 4.5 of the report;

c)     Any surplus against the target working balance on General Expenses at 31 March 2022 is transferred to the General Expenses Working Balance and any shortfall is made up from the Corporate Priorities Reserve and for Special Expenses Melton Mowbray any surplus/deficit be transferred to/from the Special Expenses Reserve thereby bringing the actual Special Expenses Melton Mowbray Working Balance back to the target;

d)    Members note the changes made to the risk categorisation of budgets as set out in paragraph 4.6.2 of the report and Appendix E;

e)    That a new General Property Repair Fund be established using the residual balance on the Waterfield Leisure Centre Income Smoothing Reserve with delegation provided to the Director for Growth and Regeneration in consultation with the Director for Corporate Services to access the reserve to meet unexpected repairs and maintenance needs that arise during the year that cannot be met from existing revenue budgets.