Agenda item

4.1       General Fund Revenue Budget 2018/19 to 2020/21

4.2       Housing Revenue Account (HRA) Budget (including HRA Capital Programme) 2018/19 – 2020/21

4.3       Treasury Management Strategy 2018/19

General Fund Revenue Budget 2018/19 to 2020/21

The City Mayor submitted his proposed budget for 2018/19 to 2020/21.  The report contained details of the financial pressures facing the Council, the proposed budget strategy including assessments of risk, and impact and consultation outcomes.

Details of the City Mayor’s Recommendation of General Fund Revenue Budget 2018/19 and the General Fund Revenue Budget and Council Tax 2018/19 – Formal Resolutions were available at the meeting and are attached to these minutes.

Moved by the City Mayor and seconded by Councillor Singh:

26.       That Council:

1)    Thanks partners and scrutiny committees who have commented on our draft budget;

2)    Notes the comments made in the City Mayor’s formal Decision Notice published on 20 February 2018 and attached as Appendix A to the script and available at the meeting;

3)    Approves the recommendations set out in section 3.1 of the report ‘General Fund Revenue Budget 2018/19 to 2020/21’ without amendment; and

4)    Approves the formal budget resolution as set out in Appendix B to the script and available at the meeting.

The Lord Mayor put the motion to the vote.

It was noted that under the requirements of The Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014 the names of the Councillors voting for or against the proposition or abstaining would be recorded by the City Barrister and Monitoring Officerand included in the minutes of the meeting.

For the motion:

Councillors Aldred, Alfonso, Aqbany, Bajaj, Barton, Bhavsar, Byrne, Cank, Cassidy, Chaplin, Chohan, Clair, Clarke, Cleaver, Cole, Connelly, Corrall, Cutkelvin, Dempster, Fonseca, Govind, Halford, Hunter, Joshi (Lord Mayor), Khote, Kitterick, Malik, Master, Moore, Myers, Osman, Pantling, Patel, Rae Bhatia, Riyait, Russell, Sandhu, Sangster, Shelton, Singh, Singh Johal, Sood, Soulsby (City Mayor), Thalukdar, Thomas, Unsworth, Waddington, Westley, Willmott.

Against the motion:

Councillors Grant, Porter.

The Lord Mayor declared the motion carried.

Housing Revenue Account (HRA) Budget (including HRA Capital Programme) 2018/19 – 2020/21

A report was considered which set out the proposed Housing Revenue Account (HRA) budget for the 3 years from 2018/19 to 2020/21.  It was noted that the budget proposals were in the context of the government requirement that rents were reduced by 1% p.a. for the four year period 2016-2020.  The proposed budget included the final two years of the four-year rent reduction. 

The formal Assistant City Mayor – Housing decision notice published on 20 February 2018 was available at the meeting and is attached to these minutes.

Moved by Councillor Connelly, seconded by Councillor Cank and carried:

27.       That Council approve the recommendations set out in section 3 of the report ‘Housing Revenue Account Budget (including HRA Capital Programme) 2018/19 to 2020/2021’ without amendment and as recommended to Council in the formal Assistant City Mayor – Housing  decision notice published on 20 February 2018 and available at the meeting.

Treasury Management Strategy 2018/19

A report was considered which proposed a strategy for managing the Council’s borrowing and cash balances during 2018/19 and for the remainder of 2017/18. 

Moved by the City Mayor, seconded by Councillor Singh and carried:

28.       That Council approves the Treasury Management Strategy 2018/19, which includes the annual investment strategy attached at Appendix B to the report.