Issue - meetings

A report from the Director of Finance is attached. (Report No.172 agenda part two also referred). (Key decision – reference number 4744)

(Report No.160)

(7.30 – 7.40 pm)

Councillor Mary Maguire (Cabinet Member for Finance and Procurement) introduced the report of the Director of Finance (No.160) proposing the general revenue budget and council tax for the 2019/20 financial year.

NOTED

1.            That Report No.172 also referred as detailed in Minute No.19 below.

2.            That the budget was being set within difficult financial circumstances with continuing Government funding cuts and further savings of £18m being sought next year. The budget proposals were realistic, robust, delivered on the Council’s priorities and sought to protect the most vulnerable residents in the Borough.

3.            The detailed summary of the recommendations as set out in section 1 of the report. The proposals were the culmination of the 2019/20 budget planning process. The report included details of the Local Government financial settlement for Enfield, the cost pressures faced and, made recommendations regarding the Schools’ budget.

4.            That the Council’s Treasury Management Strategy and Capital Strategy and 4-year Capital Programme were contained in separate reports as detailed in Minute Nos. 6 and 7 below.

5.            The recommendations made within the report regarding the appropriate level for the Council’s contingencies, balances and earmarked reserves. It was important to ensure that reserves were maintained at an acceptable level and a responsible approach taken.

6.            The detailed proposals contained within the report and its appendices, including budget allocations to assist the most vulnerable for example, for the Council Tax Support Scheme; the Concessionary Fares Scheme; and, for Children’s Services.

7.            The national context and local government finance settlement set out in section 3 of the report. The settlement confirmed real term cuts to Settlement Funding Assessment of 6.5% across London and nationally in 2019/20 and cumulative real terms cuts to core funding of 63% across London between 2010 and 2020. Members noted the increasing financial pressures being faced and, the significant work undertaken by Cabinet Members and senior officers in minimising the negative effects of further saving requirements on the Borough’s most vulnerable residents. Pressures were increasing on local government service provision at a time of continuing Government funding reductions. Further savings of £18m were required in 2019/20.

8.            Members expressed their appreciation to Councillor Maguire and acknowledged the vigorous scrutiny of the Council’s budgets that had taken place. Efforts were being made to maximise the Council’s income generation.

9.            The minutes of the Overview and Scrutiny Committee budget meeting held on 31 January 2019 which were tabled at the meeting. The scrutiny process had been thorough.

10.         A discussion followed on the budget proposals and comments made as summarised below. The hard work of both Cabinet Members and Officers was recognised and praised in the delivery of the budget which sought to minimise the impact on the Borough’s residents.

11.         Members’ continued frustration at the level of Government funding cuts and the historical fair funding argument through which Enfield and other Outer London Boroughs’ formula funding was disproportionately low to the detriment of Enfield residents. Such funding issues were becoming increasingly challenging and negatively affected the Council’s  ...  view the full minutes text for item 5