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Agenda item

Report of the Policy and Resources Committee held on 13 February 2019 - Medium Term Financial Strategy and Budget Proposals 2019/20

Minutes:

It was moved by Councillor Cox, seconded by Councillor Mrs Gooch, that the recommendations of the Policy and Resources Committee relating to the Medium Term Financial Strategy and Budget Proposals 2019/20 be approved subject to:

 

A.   The amendment of recommendations 14 (c), (d) and (f) to refer to recommendation 14 rather than 15 and recommendation 16 to refer to recommendations 14 (d) and 15 rather than 15 (d) and 16; AND

 

B.  An additional recommendation to be numbered 17 as follows:

 

That the Treasury Management, Investment and Capital Strategies for 2019/20 be adopted.

 

As a consequence of the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a named vote was taken on the motion as follows:

 

FOR (30)

 

Councillors Adkinson, Clark, Cox, Daley, English, Fermor, Field, Fissenden, Garland, Mrs Gooch, Greer, Mrs Grigg, Harper, Harvey, Harwood, Hastie,

Mrs Joy, Kimmance, McKay, Mortimer, Naghi, Newton, Powell, Mrs Robertson, J Sams, T Sams, Vizzard, Webb, Wilby and Mrs Wilson

 

AGAINST (21)

 

Councillors Bartlett, Mrs Blackmore, Boughton, Brice, D Burton, M Burton, Chappell-Tay, Cuming, Fort, Garten, Hinder, Mrs Hinder, McLoughlin, Perry, Purle, Mrs Ring, Rose, Spooner, Springett, Mrs Stockell and

de Wiggondene-Sheppard

 

ABSTENTIONS (0)

 

MOTION CARRIED

 

RESOLVED:  That

 

1.  The revised Revenue Estimates for 2018/19, as set out in Appendix A to the report of the Policy and Resources Committee, be agreed.

2.  The minimum level of General Fund Balances be set at £2 million for 2019/20. 

3.  The Strategic Revenue Projection, as set out in Appendix A to the report of the Policy and Resources Committee, be endorsed as the basis for future financial planning. 

 

4.  The proposed Council Tax of £260.46 at Band D for 2019/20 be agreed. 

5.  The Revenue Estimates for 2019/20, as set out in Appendix A to the report of the Policy and Resources Committee, be agreed. 

6.  The Statement of Earmarked Reserves and General Fund Balances, as set out in Appendix A to the report of the Policy and Resources Committee, be agreed. 

7.  The funding of the Capital Programme, as set out in Appendix A to the report of the Policy and Resources Committee, be agreed. 

8.  The Capital Programme, as set out in Appendix A to the report of the Policy and Resources Committee, be agreed.

9.  The Medium Term Financial Strategy, as set out in Appendix A to the report of the Policy and Resources Committee, be agreed.

 

10.  It be noted that the Council’s Council Tax base for the year 2019/20 has been calculated as 62,033.4 in accordance with Regulation 3 of the Local Authorities (Calculation of Council Tax Base) Regulations 1992. 

11.  It be noted that in accordance with Government guidance the yield from business rates has been calculated as £55,900,756. 

12.  It be noted that the individual parish area tax bases set out in Appendix B are calculated in accordance with Regulation 6 of the Regulations and are the amounts of the Council Tax Base for the year for dwellings in those parts of the Council’s area to which a special item relates. 

13.  The Council Tax requirement for the Council’s own purposes for 2019/20 (excluding Parish precepts) is £16,157,219. 

14.  The following amounts now be calculated by the Council for the year 2019/20 in accordance with Section 32-36 of the Local Government Finance Act 1992 as amended by the Localism Act 2011:-

(a)

£97,129,304

being the aggregate of the amounts which the Council estimates for the items set out in Section 32(2) of the Act taking into account all precepts issued to it by Parish Councils.

(b)

£79,036,010

being the aggregate of the amounts which the Council estimates for the items set out in Section 32(3) of the Act.

(c)

£18,093,294

being the amount by which the aggregate at 14(a) above exceeds the aggregate at 14(b) above, calculated by the Council in accordance with Section 32(4) of the Act as its Council Tax requirement for the year. (Item R in the formula in Section 32(4) of the Act).

(d)

£291.67

being the amount at 14(c) above (Item R), all divided by the figure stated at 10 above (Item T in the formula in Section 33(1) of the Act), calculated by the Council, in accordance with Section 33 of the Act, as the basic amount of its Council Tax for the year (including Parish precepts).

(e)

£1,936,075

being the aggregate amount of all special items (Parish precepts) referred to in Section 34(1) of the Act (as per the attached Appendix B).

(f)

£260.46

being the amount at 14(d) above less the result given by dividing the amount at 14(e) above by the tax base given in 10 above, calculated by the Council, in accordance with Section 34(2) of the Act, as the basic amount of its Council Tax for the year for dwellings in those parts of its area to which no Parish precept relates. 

 

15.  It be noted that for the year 2019/20 Kent County Council, the Kent Police & Crime Commissioner and the Kent & Medway Fire & Rescue Authority have stated the following amounts in precepts issued to the Council, in accordance with Section 40 of the Local Government Finance Act 1992, for each of the categories of dwellings shown below:- 

Valuation Bands

 

KCC

PRECEPT

£

KCC

ADULT SOCIAL CARE

£

KPCC

£

KMFRA

£

A

804.48

61.80

128.77

51.84

B

938.56

72.10

150.23

60.48

C

1072.64

82.40

171.69

69.12

D

1,206.72

92.70

193.15

77.76

E

1,474.88

113.30

236.07

95.04

F

1,743.04

133.90

278.99

112.32

G

2,011.20

154.50

321.92

129.60

H

2,413.44

185.40

386.30

155.52

 

16.  Having calculated the aggregate in each case of the amounts at 14 (d), and 15 above, the Council, in accordance with Section 30 (2) of the Local Government Finance Act 1992, hereby sets out in Appendix C, the amounts of Council Tax for the year 2019/20 for each of the categories of dwellings shown.

 

17.  The Treasury Management, Investment and Capital Strategies for 2019/20, attached as Appendices to Appendix A to the report of the Policy and Resources Committee, be adopted.

 

Supporting documents: