Decision details

Cllr Ray Theodoulou, Cabinet Member for Finance and Change, presented the Draft Council Strategy and Medium Term Financial Strategy, (MTFS), 2018-19 to 2020-21, (including the proposed Revenue and Capital Budget 2018-19), for recommendation to Council.

Having considered all of the information, including the outcomes of the council’s formal budget consultation, the due regard statement for the decision and recommendations from the Overview and Scrutiny Management Committee, Cabinet noted the decision report and the reasons for the recommendations and,

RESOLVED to: -

1.    Note the outcome of the budget consultation as set out in Appendix 3 of the report and the report of the Overview and Scrutiny Management Committee (OSMC) in Appendix 4;

2.    Approve the Draft Council Strategy for submission to County Council (Appendix 1);

3.    Approve changes to the draft budget as set out in Section C of the report, and approve the MTFS and final revenue and capital budget for 2018/19 for recommendation to Council, including all of the proposals set out in the annexes of the detailed MTFS (Appendix 2);

4.   Note the schools funding, the provisional local government finance settlement and forecast reserve movements, as summarised in the decision report and as set out in the MTFS, and recommend to Council a revenue budget of £412.90 million, and a band D council tax of £1,232.21, and consequential precepts on District Councils;

5.   Note that Gloucestershire had been successful in becoming a Business Rate Retention pilot in 2018/19 and propose that the additional revenue be split between Children’s Social Care (£2.6 million) and Adult Social Care (£2 million).

6.   Approve, for recommendation to Council, the Treasury Management Strategy, Investment Strategy and Prudential Indicators, as set out in Section I of the decision report and Annex 10 of the detailed MTFS.

7.   Approve, for recommendation to Council, the Risk Management Policy Statement & Strategy, as set out in Section M of the decision report and Annex 11 of the detailed MTFS.