Issue - meetings

Consider report by Chief Financial Officer.  (Copy attached.)

There had been circulated copies of a report by the Chief Financial Officer providing an initial high level assessment of the broad planning assumptions being used in developing the revenue and capital plans for 2020/21 and future years.  The Chief Financial Officer advised that in light of the current political uncertainty it was now unlikely that the budget settlement would be received on 12 December as this was the date of the General Election.  A briefing on Capital Expenditure was to be provided for Members after the Council meeting.  The report explained that key assumptions regarding the budget fell into the following categories:

·                Local Government Finance Settlement - Revenue Support Grant (RSG) and Non-Domestic Rates (NDR);

·                Council Tax levels;

·                Pay inflation (agreed nationally);

·                Non-pay inflation (e.g. PPP contract, care home contracts, utility costs);

·                H&SC funding;

·                Borrowing Limits to support capital investment;

·                Major changes required to capital plan with respect to Schools and Investment in the Care estate.

Each of the categories above had been reassessed in line with the latest information available with any resultant financial implications being included in the first draft of the 2020/21 budget papers.  Further reports would be brought forward to Council as part of the budget development process for 2020/21.  Members noted the current positon.

DECISION

NOTED the planning assumptions being made for the revenue and capital budget planning process for 2020/21.