An apology for absence was received from Councillor T Wainwright.

There were no Declarations of Interest.

The minutes of the meeting held 9 December 2015 were confirmed.

Cabinet considered the Interim Section 151 Officer's report which presented for approval the 2016/17 Budget along with the latest financial projections for the following 3 years to 2019/20. The report includes details of the provisional finance settlement along with the key assumptions that have been made within the budget. The report also details a summary of the Medium Term Financial Strategy options that will be progressed over the short to medium term to reduce the forecast deficit.

The Council's budget is set for approval each year and is presented to Cabinet before recommendations are made to Full Council on the budget and the setting of Council Tax for the forthcoming year. The budget had been produced based on a number of assumptions as detailed within the Interim Section 151 Officer's report, and also reflected the provisional finance settlement announced on the 17 December 2015. The Cabinet Member (Resources) reported that the final settlement had been provided the day before and there were no changes tot he funding as included in the report. The Interim Section 151 Officer reported that the Council Tax increase flexibilities in the final settlement had been relaxed further which meant that GYBC could now increase by £5 in 2016/17 if approved, as opposed to previously the provisional settlement had allowed this flexibility to the bottom quartile of Councils. The report also recommends that the surplus for the year is allocated to the general reserve. The report also outlined the risks facing the Council in setting the budget and forecasting future spending plans and resources.

RESOLVED :

That Council be recommended to approve :-

(1) The 2016/17 Revenue Budget as detailed in Appendix A of the report.

(2) The surplus of £107,223 be allocated to the general reserve.

(3) The demand on the collection fund for 2016/17 will be :-

(a) £3,914,239 for District purposes
(b) £354,143 for Parish Precepts 

(4) The statement of and movement of reserves as detailed in Appendix D of the report.

(5) The updated Capital Programme and Financing for 2015/16 to 2018/19 as detailed in Appendix E of the report.

(6) That an allocation of £1m from the general reserves be earmarked in an Invest to Save Reserve as detailed within the Interim Section 151 Officer's report.

(7) That Members note the current financial projections for 2017/18 to 2019/20.

(8) That delegated authority be given to the Chief Executive Officer to submit the Council's Efficiency Plan as required once further guidance is published and that the Council accepts the 4 year finance settlement as referred to within the Section 151 Officer's report.

Cabinet considered the Group Manager (Resources) report on the Treasury Management Strategy 2016/17.

RESOLVED :-

That Council be recommended to :-

(1) Approve the Treasury Management Strategy for 2016/17.

(2) Approve the Prudential indicators and limits for the 3 year period 2016/17 to 2018/19 as detailed in the Group Manager's report.

(3) To approve Minimum Revenue Provision Statement.

(4) To approve the Annual Investment Strategy.

Cabinet considered the Interim Section 151 Officer's report on the 2016/17 Period 9 Budget Monitoring Report. Members were advised that the Monitoring Report would be considered by the Scrutiny Committee at its meeting on the 25 February 2016.

RESOLVED :

That the 2016/17 Period 9 Budget Monitoring Report be received.

Cabinet considered the Director of Housing and Neighbourhoods report  which set out the Housing Revenue Account (HRA) Budget, Rent and Service Charge proposals for 2016/17, and the revised HRA forecast for 2015/16.

The Director of Housing and Neighbourhoods reported that over the last few days guidance had been received from the Government indicating that supported housing would be exempt from the first year of the 1% rent reduction. This was because Government had recognised the additional costs of supported housing and are to carry out a review in time to inform guidance for 2017/18.

RESOLVED :

That Council be recommended to :-

(1) Approve the draft budget estimates provided within the budget for the period 2016/17 to 2020/21.

(2) To approve the revised forecasts for 2015/16.

(3) To approve the proposed fees and charges for 2016/17.

(4) To review the Government proposals set out in the Welfare Reform and Work Bill 2015 and Housing Planning Bill which include the 1% decrease per year for 4 years.

Cabinet considered the Director of Housing and Neighbourhoods report which provided estimates in respect of the Housing Revenue Account (HRA) Major Works Capital Programme 2016/17 to 2020/21.

RESOLVED :

That Council be recommended to :-

(1) Approve the proposed Housing Major Works Capital Programme Budget and Programme for 2016/17 and the provisional Programme for 2017/18 to 2020/21.

(2) Approve the revised forecast programme for 2015/16.

Cabinet was advised as part of Her Majesty the Queen's birthday celebrations on the 21 April 2016 the Beacon on the seafront would be lit on the evening of the 21 April. Cabinet was asked whether the Borough Council would wish to sponsor a firework display at a cost of approximately £1500 on the same evening.

RESOLVED : 

That no action be taken to fund a firework display on the evening of the 21 April 2016.