Issue - meetings

A report from the Executive Director Resources is attached.  (Key decision – reference number 5352)

Councillor Mary Maguire (Cabinet Member for Finance and Procurement) introduced the report of the Executive Director Resources setting out the Revenue Budget and Council Tax for the 2022/23 financial year, and updating the Council’s Medium Term Financial Plan (MTFP) in the light of those decisions.

NOTED

1.    This was a balanced and resilient net revenue budget of £259.825m for the coming financial year, a 0.18% decrease when compared with 2021/22. It contained additional investment in priority services.

2.    Residents were facing raised costs of living currently and the Council was doing what it could to help and recommending a freeze on core Council Tax.

3.    The national context, inflationary pressures, and local demographic pressures in demand-led services were highlighted.

4.    Grant funding was detailed. No further resources to help manage the cost pressures arising from Covid-19 were expected beyond this year.

5.    Table 18 in the report gave a summary of forecast reserves.

6.    The report also contained information in respect of the Dedicated Schools Grant and of review of fees and charges.

7.    The budget enabled delivery on the commitments made in the Fairer Enfield Policy 2021.

8.    Budget engagement had been open until 11 February and detailed analysis would be reported to Council.

9.    Attention was drawn to the statement of the Council’s Section 151 Officer on the robustness of budget estimates and adequacy of the reserves.

10. Councillor Barnes raised the green and climate action aspects of the budget, with investment in programmes to deliver reductions in carbon emissions and improve resilience to climate change.

11. Councillor Uddin provided an update in respect of children’s services, confirming an increase in resources to meet increased demand. Adults’ social care was similarly noted as demand-led and facing a high amount of pressure.

12. The support of the Executive Director – Resources as Section 151 Officer, having undertaken a review, that the budget was resilient and robust and the level of reserves appropriate to meet risks.

13. The Chair’s comments on the administration’s approach that budget setting should be resilient and fair, with investment for future generations, and protection of the most vulnerable residents. There would be investment in services which residents valued.

14. Everyone involved in the budget process, particularly officers in Resources and Cabinet members, were thanked for their hard work.

Alternative Options Considered:

The Council operates a budget planning and consultation process during which a wide range of options are considered in detail before recommendations are made. Issues raised and discussed have greatly contributed to the report including information from the Budget Engagement exercise set out in the report. As part of its planning for both 2022/23 and future years the Council has considered future levels of Council Tax.

DECISION:  The Cabinet agreed to:

1.    Note that

i. The budget is in a balanced position for 2022/23, however, this has required the one off use of reserves of £2.000m.

ii. The total costs of Covid-19 in 2022/23 are estimated to be £6.339m; this will be funded  ...  view the full minutes text for item 5