Issue - meetings

To consider a joint report of the Leader of the Council and Cabinet Member for Policy, Finance and Devolution and the Cabinet Member for Reform and Governance.

The Leader of the Council and Cabinet Member for Policy, Finance & Devolution (Councillor Alex Ganotis) submitted a report (copies of which had been circulated) detailing the Cabinet’s Revenue Budget Proposals for 2018/19 and Capital Programme Investment Plans and outlining the Council’s financial outlook and challenges across the medium term period

2018/19 to 2022/23.

MOVED AND SECONDED – That:-

(1) approval be given to the Budget for 2018/19 described in the report and set out in Appendix 2 and 3;

(2) the risk assessment of the Budget at Appendix 5 and the report of the Borough Treasurer on the adequacy of proposed financial reserves and robustness of the estimates included at Appendix 5 be noted;

(3) the financial forecasts for 2018/19 to 2022/23 (Appendix 6), and the key issues to be addressed in formulating a response to the future financial challenges facing the Council be noted;

(4) approval be given the 2018/19 to 2020/21 Capital Programme and the funding arrangements as described in the report and set out at Appendix 7; and

(5) approval be given the prudential indicators set out in Appendix 8.

AMENDMENT MOVED AND SECONDED – That the Council Meeting gives approval to the proposed amendments to the 2018/19 Cabinet Revenue Budget and Capital Programme put forward by the Liberal Democrat Group and as set out in its proposals and summarised in the document entitled

“Liberal Democrat Amendment to the Council Budget 2018” which had been circulated at the meeting and which would result in consequential revisions to Appendices 1, 2, 3, 4, 5, 6 and 9 to the report.

To consider a report of the Leader of the Council and Cabinet Member for Policy, Finance & Devolution.

The purpose of the report is to finalise the Cabinet’s 2018/19 Revenue Budget and Capital Programme Investment Plans. It also outlines the Council’s financial outlook and challenges across the medium term period 2018/19 to 2022/23. The report highlights the overarching priorities and desired outcomes upon which the Cabinet has based its budget proposals, and which form the basis of the updated Council Plan included on this agenda.

This report needs to be considered in conjunction with the Borough Treasurer’s report on the Council’s Medium Term Financial Plan (MTFP) for 2018/19 to 2022/23 following the Provisional Local Government Finance Settlement announced by Government.

The Cabinet is recommended to ask the Council Meeting to:

•        Agree the Budget for 2018/19 described in the report and set out in Appendix 2 and 3;

•        Note the risk assessment of the Budget at Appendix 5 and the report of the Borough Treasurer on the adequacy of proposed financial reserves and robustness of the estimates included at Appendix 5;

•        Note and comment upon the financial forecasts for 2018/19 to 2022/23 (Appendix 6), and the key issues to be addressed in formulating a response to the future financial challenges facing the Council;

•        Approve the 2018/19 to 2020/21 Capital Programme and the funding arrangements as described in the report and set out at Appendix 7;

•        Approve the prudential indicators set out in Appendix 8; and

•        Pass the appropriate Council Tax resolutions which produce a Council Tax increase of 4.99% (2.99% General increase and 2% Adult Social Care Precept increase) as illustrated in Appendix 9.

Officer contact: Michael Cullen, 0161 474 4631, michael.cullen@stockport.gov.uk

The Leader of the Council and Cabinet Member for Policy, Finance & Devolution submitted a report (copies of which had been circulated) inviting the Cabinet to consider it’s proposed 2018/19 Revenue Budget and Capital Programme Investment Plans, outlining the Council’s financial outlook and challenges across the medium term period 2018/19 to 2022/23.

The Leader of the Council emphasised the ambition of the Cabinet in proposing the 2018/19 Capital Programme, in particular to support schemes to build new affordable homes and to implement sustainable transport schemes.

RESOLVED – That in relation to the 2018/19 Cabinet Revenue and Capital Programme the Council Meeting be recommended to:-

•     approve the Budget for 2018/19 described in the report and set out in Appendix 2 and 3;

•     note the risk assessment of the Budget at Appendix 5 and the report of the Borough Treasurer on the adequacy of proposed financial reserves and robustness of the estimates included at Appendix 5;

•     note and comment upon the financial forecasts for 2018/19 to 2022/23 (Appendix 6), and the key issues to be addressed in formulating a response to the future financial challenges facing the Council;

•     approve the 2018/19 to 2020/21 Capital Programme and the funding arrangements as described in the report and set out at Appendix 7;

•     approve the prudential indicators set out in Appendix 8; and

•     pass the appropriate Council Tax resolutions which produce a Council Tax increase of 4.99% (2.99% General increase and 2% Adult Social Care Precept increase) as illustrated in Appendix 9.