Decision - General Fund Revenue Budget & Council Tax 2011/12

To agree the revenue budget and council tax for 2011/12 and recommend approval by Full Council

(1)         That Cabinet recommends to Council, subject to 2.3 below, the 2011/12 General Fund Revenue Budget proposals including:

§         A 1% reduction in the Brighton & Hove element of the council tax.

§         The 2011/12 budget allocations to services as set out in appendix 1.

§         The council’s net General Fund budget requirement for 2011/12 of £231.0m.

§         The commitments and reinvestments as set out in paragraph 3.49 including a reduction in the cost of residents parking permits and funding for free swimming for the under 11’s.

§         The budget savings package as set out in appendix 10.

§         The value for money savings as set out in appendix 11.

§         The corporate budgets of £20.5m.

§         The contingency budget of £3.7m as set out in table 6.

§         The reserves allocations as set out in appendix 5 and paragraph 3.32.

§         The borrowing limit of £367m for the year commencing 1 April 2011.

§         The annual Minimum Revenue Provision statements as set out in appendix 8.

§         The prudential indicators as set out in appendix 9 to this report.

(2)         That Cabinet notes the Medium Term Financial Strategy budget and resource projections for 2011/12 to 2014/15 as set out in appendix 6.

(3)         That Cabinet notes that supplementary information needed to set the overall council tax will be provided for the budget setting Council as listed in paragraph 4.5.

The council is under a statutory duty to set its council tax and budget before 11 March each year. The recommendations to Budget Council contained within this report together with the recommendations to follow in the supplementary report to full Council, will enable the council to meet its statutory duty.

The budget process allows all parties to put forward viable alternative budget and council tax proposals to Budget Council on 3 March. Budget Council has the opportunity to debate both the proposals put forward by   Cabinet at the same time as any viable alternative proposals. All budget amendments must have been “signed off” by finance officers no later than 12 noon on Monday 28 February.