Issue - meetings

The report of the Executive Manager  - Finance and Corporate Services is attached.

The Leader and Portfolio Holder for Strategic and Borough Wide Leadership, Councillor Robinson presented the report of the Executive Manager – Finance and Corporate Services that outlined the Council’s Financial Strategy and Budget for 2020/21.

Councillor Robinson stated that, over the last few years, the Budget report had been accompanied with news of financial struggles and difficulties, but this year was different. With a strong majority government and having finally left the EU, the situation was looking more stable, the threat of Coronavirus notwithstanding. The Budget funded the delivery of the Council’s Corporate Strategy including enhancements to residents’ Quality of Life, the sustainability of developments in the Borough, the efficiency of Council services, and the Council’s new environmental priority; with those priorities clearly reflected in the Budget.

A number of current uncertainties for the Council were highlighted including: the level of business rates; the future uncertainty of Ratcliffe on Soar power station; potential changes in the future to the distribution of the New Homes Bonus; and the Fairer Funding Review being further delayed by central Government.

Councillor Robinson referred to the choices, which had to be made by Council every year and stated that he was proud to report that year on year Rushcliffe had made brave and courageous decisions, which aimed to deliver the best outcomes to residents to the Borough. Councillors formed part of that process through their involvement in the annual Budget workshops where officers worked hard to present very complex decisions as simply as possible. This year Councillors had chosen to: freeze car parking charges across the Borough to boost business growth in towns and villages; increase the green bin charge by £5 for the first time in three years; and increased the Council Tax by 3.59%; maintaining it as the least expensive in the County and remaining in the lowest quartile nationally.

Councillors were reminded that the Council was financially self-sustaining because of choices made in line with the central Government reduction in Revenue Support Grant. Over the period of the current Medium Term Financial Strategy, the income received by the Council each year had risen to over £2million and this was set to continue funding: activities for young people via the Positive Futures Programme; the new Customer Contact Centre in West Bridgford; and additional affordable housing across the Borough including at Abbey Road.

Councillor Robinson drew Council’s attention to the ambitious Capital Programme contained within the Budget. In order to fund the programme and deliver on the Council’s ambitions it was now considered prudent and appropriate to look at external borrowing of up to £10million to support a Capital Programme of £35million to deliver: the Bingham Hub containing office and leisure facilities and a community hall; a crematorium in Stragglethorpe; and enhancing the Borough’s community assets including; parks, existing leisure centres and community buildings. It was also noted that the Budget was not just about money but could also be used to drive behavioural change and the £1million investment in a Climate Change Fund  ...  view the full minutes text for item 56