In accordance with the Budget Council procedure, the following alternative Budget proposals/amendments were submitted to the Acting Director of Law, HR and Asset Management by 12.00noon on Thursday 28 February 2013.

1.  Proposed amendment to the Cabinet Revenue Budget Proposal by the Conservative Group

Proposed by  Councillor Jeff Green

Seconded by Councillor Lesley Rennie

2.  Proposed amendment to the Cabinet Revenue Budget Proposal by the Liberal Democrat Group

Proposed by  Councillor Tom Harney

Seconded by Councillor Stuart Kelly

In relation to each amendment, the Authority’s Chief Financial Officer is satisfied, pursuant to section 25 of the Local Government Act 2003, as to the robustness of the estimates and the adequacy of the General Fund balances and reserves. In accordance with section 25, the Interim Director of Finance will circulate prior to the meeting a written report on each set of proposals.

In accordance with Standing Order 13 (Budget Council Procedure), the Leader of the Council, Councillor Phil Davies, moved the Cabinet’s Budget recommendations, duly seconded by Councillor Ann McLachlan, Deputy Leader, with any additional paragraphs (those related to precepts), together with other minutes from the Cabinet meeting held on 18 February 2013 that required approval by the Council, plus the recommendations of the Interim Director of Finance, in his revised Council Tax 2013/2014 report.

A specific vote was required to be taken in relation to the recommendations in relation to Council Tax 2013/2014.

A.  The following minutes were deemed to be approved, subject to consideration of budget amendments. Therefore, if the budget amendments were to fail, the following minutes and the cabinet budget would be approved, in accordance with the agreed Budget Council procedure –

1.  Minute 201 (Cabinet – 18 February 2013)

Level of General Fund Balances 2013/2014

Resolved: That

(1)  it be agreed that the level of general fund balances recommended be based on a locally determined approach to the assessment of the financial risks that the Council may face in the future; and

(2)  it be agreed that the Council maintains its level of balances at or above the locally determined level of general fund balances.

2.  Minute 203 (Cabinet – 18 February 2013)

S.25 Statement – Robustness of Estimates

and Adequacy of the Proposed Reserves

In accordance with Section 25 of the Local Government Act 2003, the Council’s Chief Financial Officer (Director of Resources) was required to report on the robustness of the estimates made for the purposes of the Council’s budget calculations and the adequacy of the adequacy of the General Fund balances and reserves.

The Cabinet noted that Budget estimates were exactly that, being estimates of spend and income made at a point in time. The Statement about the robustness of estimates could not give a guaranteed assurance about the Budget, but gave reasonable assurances that the budget had been based on the best available information and assumptions.

The report of the Interim Director of Finance had also outlined a number of key processes that had been put in place in order to meet the requirement on robustness.

3.  Minute 207 (Cabinet – 18 February 2013)

Medium Term Financial Strategy

Resolved: That

(1)  the Treasury Management and Investment Strategy for 2013/2016 be approved;

(2)  the Prudential Indicators be adopted;

(3)  the Council’s Minimum Revenue Provision Policy be approved;

(4)  those Council Officers listed within Appendix F to the report on the Treasury Management and Investment Strategy Statement, be authorised to approve payments from the Council’s bank accounts for all treasury management activities;

(5)  the Medium Term Financial Strategy be approved; and

(6)  regular updates on the Medium Term Financial Strategy be reported to the Cabinet.

4.  Minute 202 (Cabinet – 18 February 2013)

Revenue Budget 2013/2014

BUDGET RESOLUTION - EXECUTIVE SUMMARY

Resolved – That

Unprecedented cuts to Council funding from central government, combined with unfunded increased demand for social care in particular, mean that  ...  view the full minutes text for item 135

A report by the Interim Director of Finance reviewed the recommended level of general fund balances for 2013/14 that had been agreed by the Cabinet at its meeting on 29 November 2012 on a risk basis, in the light of budgetary developments since then (Minute No. 135 refers).

RESOLVED: That

(1)  it be agreed that the level of general fund balances recommended be based on a locally determined approach to the assessment of the financial risks that the Council may face in the future; and

(2)  it be agreed that the Council maintains its level of balances at or above the locally determined level of general fund balances.