Draft Budget 2020/21 – 2022/23 and medium term financial outlook
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The purpose of this report is to set out the
Council’s budget proposals for 2020/21 and beyond. It
therefore includes other key activities in relation to setting the
2020/21 budget, including dealing with any surplus on the
Council’s collection fund and the updating of technical
budget assumptions since they were last presented to Cabinet in
July 2019. It also provides a general update on the overall
financial position, including an assessment of the
Government’s one-year spending review and other reforms to
Local Government finances.
RESOLVED that Cabinet:
(1) Note the overall financial position.
(2) Agrees to consult on the budget proposals as set out in Appendices A, B and C.
(3) That Cabinet agrees to consult on council tax increases of 3.99% in 2020/21, subject to the legislative uncertainty set out in section four of this report.
(4) Endorses the approach to the statutory process of consultation, scrutiny and equalities between November 2019 and January 2020, as set out in section seven of the report.
(5) Endorses the changes to the technical budget assumptions underpinning the budget as set out in section four of this report.
(6) Agrees the estimated Collection Fund balance relating to Council Tax and Business Rates for 2020/21 as nil (no surplus or deficit) as set out in section six of the report.
(7) Notes the position with regard to the School funding reform proposals, as set out in section eight.
(8) Agrees to consult on a rent increase of 2.7% for the 2020/21 Housing Revenue Account (HRA) budget, as set out in section nine and Appendix D of the report.
(9) Notes the key assumptions in the HRA business plan, as set out in Appendix D of the report.
(10) Notes the position with regard to the Capital programme, as set out in section ten of the report.
Reason Key: Affects more than 2 wards;
Wards Affected: (All Wards);
Contact: Minesh Patel, Director of Finance Email: firstname.lastname@example.org Tel: 020 8937 4043.
Report author: Ravinder Jassar
Publication date: 11/11/2019
Date of decision: 11/11/2019
Decided at meeting: 11/11/2019 - Cabinet
Effective from: 19/11/2019
- 7. Draft Budget 2020.21 – 2022.23 and MTFS outlook PDF 324 KB
- 7a. Appendix A - Draft Budget 2020.21 – Summary of Proposals PDF 66 KB
- 7b. Appendix B Summary of 2021.22 - 2022.23 budget proposals PDF 21 KB
- 7c. Appendix C -Detailed budget templates for 2021.22 - 2022.23 proposals PDF 325 KB
- 7d. Appendix D - Summary of HRA business plan PDF 98 KB