Agenda item

The agenda item number mentioned in the heading of the individual extract refers to the agenda of the relevant Executive meeting. All Members have been supplied with the agenda papers and are commended to review them prior to the Council meeting. 

(1)      EXE 77 Treasury Management Strategy 2021/22 (Agenda Item 17) (draft minute extract to follow)

(2)      EXE 78 Capital Strategy 2021-25 and Capital Budget 2021-22 (Agenda Item 18) (draft minute extract to follow)

(3)      EXE 79 Medium Term Financial Plan (MTFP) and Revenue Budget 2021/22 (Agenda Item 19) (draft minute extract to follow)

Note: The published Equality Impact Assessments (EIAs) that underpin the 2021/22 budget savings plans can be found at Appendix 6 to the Executive report. Councillors are asked to familiarise themselves with the EIAs in advance of the meeting.

Note for Councillors:

Council is requested to consider item 15 (3) above together with the following report (item 16) which contains the Council Tax charges for the Council and the precepting authorities for 2021/22.

If changes are approved to the recommendations from the Executive, alterations to the recommended Council Tax resolution as contained within the following report might be required.  In this case Council will be requested to adjourn to enable the figures in the Council Tax resolution report to be recalculated and re-circulated.

As Members will be aware the precept from the Police and Crime Commissioner for Avon and Somerset is still awaited.   In the event of late precept notification an adjournment may be required to allow the necessary recalculations to be made. 

With the agreement of the Chairman, Councillor Cartman presented the Executive finance references and the council tax setting update report en bloc, that is: Treasury Management Strategy 2021/22; Capital Strategy 2021-2025 and Capital Budget 2021/22; Medium Term Financial Plan (MTFP) and Revenue Budget 2021/22; Revenue Budget Update and Council Tax Setting 2021/22 update report.  It was noted that a named vote would be required on the budget decision.

In presenting the Executive references and the report, Councillor Cartman thanked Richard Penska and the Finance team for their work in bringing forward the reports and expressed special thanks to Richard for his invaluable contribution.  He also paid tribute to his Executive colleagues for their collaboration and team work in presenting a robust and balanced budget.  He referred to the three core themes within the corporate plan of ‘open’, ‘fair’ and ‘green’ as reflected within the council’s finance reports and he outlined the key elements within the reports.  He referred to the ongoing budget challenges due to increasing cost pressures and rising demand for services, and to particular difficulties for North Somerset given its low tax base resulting in any council tax increases generating less overall funds to spend on services.

In discussing the finance items members echoed the thanks and appreciation expressed to Richard Penska.  During the debate the following key points were raised:  members welcomed the additional funding for highway maintenance but with the ongoing effects of Covid-19 and increasing demand on services, members sought assurances that the budget was robust and there were sufficient funds available within contingencies to cover this;  members welcomed the range of new investment priorities as set out within the capital strategy plans including investment in lakes and community facilities as well as public rights of way and cycle networks; members recognised the importance of robust community engagement and welcomed the new engagement strategy to ensure all groups within the community had a voice and were listened to; reference was made to the challenges around integrated care and the need to ensure the council’s interests were protected in the event of further pooling of budgets; members noted the uncertainties around the public health budget for the coming year and the importance of planning for services to address existing inequalities and the delivery of those initiatives delayed due to the pandemic.  

In response to questions raised during the debate the interim Director of Finance confirmed it was his assessment as Section 151 Officer that the proposed revenue budget for 2021/22 was robust and the council’s reserves were adequate.  A detailed assurance assessment was included at Appendix 7 of the report to the Executive on 11 February.

On the Motion of Councillor Cartman, duly seconded it was

Resolved:

(1) the Treasury Management Strategy for 2021/22, as shown in Appendix 1 of the report to the Executive, be approved, which includes the requirement to borrow up to £95.561m during the period 2020-2025 as funding for the approved capital programme;

(2) that the Prudential Indicators for 2021/22, as shown in Appendix 2 of the report to the Executive, be approved; and

(3) that the Minimum Revenue Provision Statement for 2021/22, as shown in Appendix 3 of the report to the Executive, be approved.