Agenda item

Report of the Portfolio Holder for Finance and Resources

Councillor Sam Webster, Portfolio Holder for Finance and Resources, presented the report proposing approval of a Medium Term Financial Plan for 2022/23 to 2025/26, as recommended by Executive Board.  The report was seconded by Councillor David Mellen.  Councillors debated the report.

Councillors voted on the recommendations in the report as follows:

Resolved to:

(1)  approve the Medium Term Financial Plan 2022/23 to 2025/26, incorporating the revenue budget for 2022/23 and the recommendations contained therein;

(2)  note the recommendations of the Interim Corporate Director of Finance and Resources in respect of the robustness of the estimates made for the purpose of the budget calculations and the adequacy of reserves;

(3)  delegate authority to the Interim Corporate Director for Finance and Resources to finalise the 2022/23 revenue budget for publication;

(4)  approve the capital programme 2022/23 to 2026/27, noting the revenue implications of the capital programme;

(5)  note the authority’s council tax base of 67,540 for 2022/23, calculated in accordance with the Local Authorities (Calculation of Council Tax Base) (England) Regulations 2012, as approved by Executive Board on 18 January 2022;

(6)  approve a council tax requirement of £132,062,312 including the calculations required by Sections 30 to 36 of the Local Government Finance Act 1992 (the Act), as set out below:

a.  £1,027,753,083 being the aggregate of the expenditure, allowances, reserves and amounts which the Council estimates for the items set out in Section 31A(2) (a) to (f) of the Act;

b.  £895,690,771 being the aggregate of the income and amounts which the Council estimates for the items set out in Section 31A(3) (a) to (d) of the Act;

c.  £132,062,312 being the amount by which the aggregate at 6a exceeds the aggregate at 6b, calculated by the Council, in accordance with Section 31A of the Act, as its council tax requirement for the year.

(7)  approve a City Council Band D basic amount of council tax for 2022/23 of £1,955.32 being the amount at (6c) divided by the amount at (5), calculated by the Council, in accordance with Section 31B(1) of the Act, as the basic amount of its council tax for the year (as set out in Section 6 of the report);

(8)  note a Nottinghamshire Police and Crime Commissioner precept at Band D for 2022/23 of £254.25;

(9)  note a Nottinghamshire and City of Nottingham Fire and Rescue Authority precept at Band D for 2022/23 of £84.57;

(10)  approve the setting of the amounts of council tax for 2022/23 at the levels below:

(11)  approve the retention of the Council Tax Support Scheme currently in operation, amended to disregard the Government’s £150 Energy Rebate Scheme payments for the financial year 2022/23 as required by The Council Tax (Demand Notices and Reduction Schemes) (England) (Amendment) Regulations 2022; and

(12)  approve the making of the Members’ Allowances Scheme for 2022/23 in the terms of the previously adopted and amended Scheme, except for adjustments to mirror nationally determined rates for pay awards and travel and subsistence (as applicable to officers) and for carers allowances.