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 2020/21;

2)    DELEGATED authority to the Director for Corporate Services to make any amendments necessary to the estimates prior to their submission to Council for approval, as a result of changes to the final finance settlement over the provisional and as a result of the final NNDR 1 form used to calculate retained business rates;

3)    RECOMMENDED to Council, subject to any amendment arising from the final finance settlement that:

                     i.        The proposals for General Expenses and Special Expenses Melton Mowbray be approved for inclusion in the 2021/22 budget resulting in the estimates;

                    ii.        Delegated authority be given to the Director for Corporate Services to release the funding for the growth items for town centre improvements, place survey and discretionary council tax support subject to conditions;

                   iii.        The revenue budget for 2021/22 for General and Special Expenses be approved, resulting in an overall council tax increase of £5;

                   iv.        Any increase or shortfall against the target working balance on General Expenses at 31 March 2021 be transferred to/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 balance back to the target;

                    v.        Members note the changes made to the risk categorisation of budgets.