Agenda and decisions

(Budget Meeting), County Council
Wednesday, 20 February 2019 2.00 pm

Venue: Council Chamber

Contact: Mo Seedat - Tel: 0116 305 2583  Email: mo.seedat@leics.gov.uk

Items
No. Item

Webcast and Order Paper. pdf icon PDF 248 KB

A webcast of the meeting can be viewed at https://www.youtube.com/channel/UCWFpwBLs6MnUzG0WjejrQtQ

Additional documents:

1.

Chairman's Announcements.

2.

Minutes. pdf icon PDF 254 KB

Additional documents:

3.

Declarations of Interest.

4.

Questions asked under Standing Order 7(1)(2) and (5).

5.

Position statements under Standing Order 8.

Decision:

The Leader gave a position statement on the following matters:-

 

·       Local Government Finance;

·       Meeting with Headteachers;

·       Local Development Corporation (Toton);

·       Transport for the East Midlands – Regional Infrastructure Summit;

·       Meeting with Leicestershire MPs;

·       Meeting with the Bishop of Leicester.

 

A copy of the position statement is attached.

6.

Budget report of the Cabinet.

6a

Medium Term Financial Strategy 2019/20 - 2022/23. pdf icon PDF 230 KB

Additional documents:

Decision:

 “(a)  That subject to the items below, approval be given to the Medium Term Financial Strategy (MTFS) which incorporates the recommended revenue budget for 2019/20 totalling £377m as set out in Appendices A, B and E of this report and includes the growth and savings for that year as set out in Appendix C;

 

(b)    That approval be given to the projected provisional revenue budgets for 2020/21, 2021/22 and 2022/23 set out in Appendix B to the report, including the growth and savings for those years as set out in Appendix C, allowing the undertaking of preliminary work, including business case development, consultation and equality impact assessments, as may be necessary towards achieving the savings specified for those years including savings under development, set out in Appendix D;

 

(c)    That approval be given to the early achievement of savings that are included in the MTFS as may be necessary, along with associated investment costs, subject to the Director of Corporate Resources agreeing to funding being available;

 

(d)    That the level of earmarked funds as set out in Appendix K be noted and the use of those earmarked funds as indicated be approved; 

 

(e)    That the amounts of the County Council's Council Tax for each band of dwelling and the precept payable by each billing authority for 2019/20 be as set out in Appendix L (including 1% for the adult social care precept) be approved;

 

(f)     That the Chief Executive be authorised to issue the necessary precepts to billing authorities in accordance with the budget requirement above and the tax base notified by the District Councils, and to take any other action which may be necessary to give effect to the precepts;

 

(g)    That approval be given to the 2019/20 to 2022/23 capital programme as set out in Appendix F;

 

(h)    That the Director of Corporate Resources following consultation with the Lead Member for Resources be authorised to approve new capital schemes, including revenue costs associated with their delivery, which are shown as future developments in the capital programme, to be funded from funding available;

 

(i)          That the financial indicators required under the Prudential Code included in Appendix M, Annex 2, be noted and that the following limits be approved:

 

 

2019/20

£m

2020/21

£m

2021/22

£m

2022/23

£m

Operational boundary for external debt

 

 

 

 

i)  Borrowing

264.1

263.6

263.1

262.6

ii) Other long term liabilities

1.2

1.1

1.0

1.0

TOTAL

265.3

264.7

264.1

263.6

 

 

 

 

 

Authorised limit for external debt

 

 

 

 

i)  Borrowing

274.1

273.6

273.1

272.6

ii) Other long term liabilities

1.2

1.1

1.0

1.0

TOTAL

275.3

274.7

274.1

273.6

 

 

(j)     That the Director of Corporate Resources be authorised to effect movement within the authorised limit for external debt between borrowing and other long-term liabilities;

 

(k)    That the following borrowing limits be approved for the period 2019/20 to 2022/23:

 

(i)      Upper limit on fixed interest exposures 100%,

(ii)     Upper limit on variable rate exposures 50%,

(iii)    Maturity of borrowing:-

 

 

Upper Limit

Lower Limit

 

%

%

Under 12 months

30

0

12 months and within 24 months

30

0

24 months and within 5 years

50

0

5 years and within 10 years

70

0

10 years and above

100

25

 

(l)     That the Director of Corporate Resources be authorised to enter into such loans or undertake such arrangements as necessary to finance capital payments in 2019/20, subject to the prudential limits in Appendix M;

 

(m)   That the Treasury Management Strategy Statement and the Annual Investment Strategy for 2019/20, as set out in Appendix M, be approved including:

(i)    The Treasury Management Policy Statement (Appendix M, Annex 4);

(ii)   The Annual Statement of the  ...  view the full decision text for item 6a

7.

Report of the Employment Committee.

7a

Pay Policy Statement 2019/20. pdf icon PDF 271 KB

Additional documents:

Decision:

“That the County Council’s Pay Policy Statement 2019/20, as referred to in the report of the Employment Committee, be approved.”