Issue - meetings

Local Government Act 2003

Meeting: 03/03/2021 - Council (Item 42)

42 Local Government Act 2003 pdf icon PDF 504 KB

To consider the report of the Cabinet Member for Corporate Delivery/Chief Finance Officer

Minutes:

The Council considered a report of the Chief Finance Officer relating to statutory requirements, as defined under the Local Government Act 2003. It is a legal requirement under Section 25 of the Local Government Act 2003 for this report to be presented to Council for consideration immediately prior to the determination of the Budget and Council Tax. The recommendations aimed to ensure that the  Council would be aware of the opinion of the Chief Finance Officer regarding the robustness of the budget as proposed and the adequacy of general balances and reserves. The report outlined the robustness of the budget, the key risks and the level of reserves to support the Council’s financial resilience.

 

It was the opinion of the Chief Finance Officer that the proposed budget was robust and that the proposed level of general balances and reserves were adequate. An option to reduce the level of balances or reserves had not been recommended by the Chief Finance Officer given the risk assessment presented in the report, and this position had been endorsed by the Cabinet when agreeing that General Balances for 2021/2022 be set at £17million.

 

Resolved:

1.     That Council endorses the approach to General balances, as outlined in the Chief Finance Officer’s report.

2.     That Council approves that the General Fund Balances for 2021/2022 be set at £17million.


Meeting: 25/02/2021 - Cabinet (Item 108)

108 Local Government Act 2003 pdf icon PDF 503 KB

Report of the Cabinet Member for Corporate Delivery/Chief Finance Officer

Minutes:

Consideration was given to a report of the Cabinet Member for Corporate Delivery / Chief Finance Officer which advised that it is a legal requirement under Section 25 of the Local Government Act 2003 for this report to be presented to Council for consideration immediately prior to setting the Budget and Council Tax. The recommendations aim to ensure that Council is aware of the opinion of the Chief Finance Officer regarding the robustness of the budget as proposed and the adequacy of general balances and reserves. This report will outline the robustness of the budget, the key risks and the level of reserves to support the Council’s financial resilience.

 

Alternatives considered:

The conclusions of the report are that the proposed budget is robust and that the proposed level of general balances and reserves are adequate. An option to reduce the level of balance/reserves is not recommended given the risk assessment outlined in the report.

 

Resolved:

1.    That Cabinet recommends to Council:

·         That the content of the report be considered prior to the approval of the Revenue and Capital Budgets, and Members endorse the approach to General balances included in the report;

·         That the General Fund Balances for 2021/22 be set at £17m.

 

Reasons for the decision:

In order to comply with the Local Government Act 2003 the Chief Finance Officer is required to provide Council with an opinion as to the robustness of the Budget being presented to Council and to ensure the adequacy of general balances and reserves. The Chief Finance Officer reports formally on the following issues:

a) An opinion as to the robustness of the estimates made and the tax

setting calculations.

b) The adequacy of the proposed financial reserves.

c) Consideration of the overall affordability of the capital programme

when determining the prudential indicators.

d) The production of longer-term revenue and capital plans.

 

The Council is required to take account of this report when determining its budget.

Eligible for call in – no

 


Meeting: 22/02/2021 - Corporate Overview and Scrutiny Committee (Item 53)

53 Local Government Act 2003 pdf icon PDF 503 KB

To scrutinise the Chief Finance Officer’s opinion regarding the robustness of the budget.

Minutes:

The Chief Finance Officer submitted a report that was also due to be presented to the next scheduled Cabinet meeting, on 25th February 2021, with the proposed Revenue Budget, Capital Programme, and Council Tax 2020/2021 for recommendation to Budget Council. It was noted that the information contained in the report was subject to the Final Local Government Finance Settlement and approval of the Mayor of Greater Manchester precepts for 2020/2021.

 

Members were informed that the report established the key financial challenges and issues which would be faced by the Council over the period 2021/2022 to 2023/2024 and provided details of the assumptions and estimates which underpin the budget. The budget also took into account the latest known developments at both regional and local levels, including reports on the integration of health and social care within the pooled budget arrangements.

 

The Committee was informed of the revenue proposals which were being recommended to Cabinet to enable a balanced budget to be considered and presented to Budget Council for approval. It was noted that the capital programme being recommended to Cabinet had been consulted on during the autumn 2019. This would also be presented to Budget Council for approval.

 

Resolved:

1.    That the Cabinet, at its meeting on 25th February 2021, be informed that the Corporate Overview and Scrutiny Committee recommends approval of the recommendations contained in this report, to Council.