Agenda item

(Finance Portfolio Holder) To consider the attached minutes from the meeting of the Finance & Performance Management Cabinet Committee, held on 18 January 2018, and any recommendations therein.

Risk Management – Corporate Risk Register

(1) That the Vulnerability, Controls and Management Actions for Risk 1, Local Plan, be updated;

(2) That the Effectiveness of Controls/Actions for Risk 2, Strategic Sites, be updated;

(3) That the revised Key Date for Risk 4, Finance Income, be updated;

(4) That the Vulnerability for Risk 7, Business Continuity, be updated;

(5) That the revised Key Date for Risk 9, Safeguarding, be updated;

(6) That a new risk, Transformation Programme, be agreed as Risk 11 with the Vulnerability, Triggers and Consequence along with supporting controls as set out, and a score of B1 (High Likelihood/Major Impact); and

(7) That the amended Corporate Risk Register be approved.

Detailed Directorate Budgets 2018/19

(8) That the detailed Directorate budget for the Office of the Chief Executive be approved;

(9) That the detailed Directorate budget for Communities be approved;

(10) That the detailed Directorate budget for Governance be approved;

(11) That the detailed Directorate budget for Neighbourhoods be approved;

(12) That the detailed Directorate budget for Resources be approved; and

(13) That the detailed budget for the Housing Revenue Account (HRA) be approved; and

Council Budgets 2018/19

(14) That the following guidelines for the Council’s General Fund Budgets in 2018/19 be recommended to the Council for adoption:

(a) the revised revenue estimates for 2017/18, and the anticipated increase in the General Fund balance by £0.76million;

(b) a decrease in the target for the 2018/19 Continuing Services Budget (CSB) from £12.92million to £11.71million (including growth items);

(c) an increase in the target for the 2018/19 District Development Fund (DDF) net spend from £0.93milion to £3.87milion;

(d) no change in the District Council Tax for a Band ‘D’ property to retain the charge at £148.77;

(e) the estimated increase in General Fund balances in 2018/19 of £1.10million;

(f) the five year capital programme 2017/18 – 21/22;

(g) the Medium Term Financial Strategy 2017/18 – 21/22; and

(h) the Council’s policy on General Fund Revenue Balances to remain that they be allowed to fall no lower than 25% of the Net Budget Requirement.

(15) That the Housing Revenue Account (HRA) budget for 2018/19, including the revised revenue estimates for 2017/18, be recommended to the Council for approval;

(16) That the rent reductions proposed for 2018/19, with an average overall fall of 1%, be noted;

(17) That the Chief Financial Officer’s report to the Council on the robustness of the estimates for the purposes of the Council’s 2018/19 budgets and the adequacy of the reserves be noted; and

(18) That the Director of Resources be authorised to make minor amendments and corrections to the figures above.

The Finance Portfolio Holder presented the minutes from the meeting of the Finance & Performance Management Cabinet Committee, held on 18 January 2018.

The Cabinet Committee had made recommendations to the Cabinet concerning: the approval of a revised and update Corporate Risk Register; the detailed Directorate Budgets for 2018/19; and the Council Budgets for 2018/19. There were no other issues considered by the Cabinet Committee.

Decision: