Agenda item

Members of the Committee are requested to bring their copy of the agenda for the Executive meeting on 7^th February 2018.

The Committee considered the following reports on the Part 1 agenda for the meeting of the Executive on 7^th February 2018.

(6)   2018/19 COUNCIL TAX

  Report FSD18016

The Committee considered a report identifying the financial issues affecting the 2018/19 revenue budget and seeking recommendations to the Council on the level of the Bromley element of the 2018/19 Council Tax and Adult Social Care precept.  It was noted that confirmation of the final GLA precept would  be reported to the Council meeting on 22^nd February 2018.  The report also sought final approval of the ‘schools budget’.

RESOLVED: That Executive be recommended to recommend to Council that:

1.  The schools budget of £76.696m which matches the estimated level of Dedicated Schools Grant (DSG), after academy recoupment, be approved;

2.  The draft revenue budgets for 2018/19 be approved;

3.  That Chief Officers identify alternative savings within their departmental budgets where it is not possible to realise any savings reported to the previous meeting of the Executive held on 10th January 2018;

4.  That a contingency sum of £14,857k be approved;

5.  That the following provisions for levies for inclusion in the budget for 2018/19 be approved:

* Provisional estimate at this stage

6.  The latest position on the GLA precept, which will be finalised in the overall Council Tax figure to be reported to full Council be noted;

7.  The “Bromley element” of the Council Tax for 2018/19 to be recommended to the Council, including a general increase and the Adult Social Care Precept, having regard to possible ‘referendum’ issues be considered;

8.  The approach to reserves outlined by the Director of Finance be approved;

9.  The final Local Government Finance Settlement 2018/19 is still awaited and the late information from the Valuation Office Agency could also have an impact on the final 2018/19 Budget position;

10. Any decision on final council tax level will also require additional “technical” recommendations, to meet statutory requirements, which will be completed once the final outcome of levies are known at the full Council meeting; and

11.That the Director of Finance be authorised to report any further changes directly to Council on 26th February 2018.

(7)  Capital Programme monitoring Q3 2017/18 & Capital Strategy 2018 to 2022

  Report FSD18014

The Committee considered  a report summarising the current position on capital expenditure and receipts following the third quarter of 2017/18 and presenting for approval the new capital schemes in the annual capital review process.  With regard to the annual bidding process, the main focus had again been on the continuation of existing essential programmes and on externally funded schemes.

RESOLVED: That the Executive be recommended to:

1.  Note the report, including a total rephasing of £22.8m from 2017/18 into future years, and agree a revised Capital Programme;

2.  Approve the following amendments to the Capital Programme:

(i)   Reduction of £5,424k to Transport for London (TfL) funded Traffic and Highways schemes as detailed in the report;

(ii)   Deletion of the £45k residual balance on the Depot – standby generators scheme which has reached completion as detailed in the report;

(iii)   The increase of £4.1m to the Property Investment Fund scheme to reflect the funding from a recent disposal of property as detailed in the report;

(iv)   A total reduction of £222k to reflect the revised grant funding for the Formula Devolved Capital Grant relating to the Council’s remaining maintained schools as detailed in the report;

(v)   A total reduction of £87k to reflect the lower associated cost on completed property purchases as detailed in the report;

(vi)   Section 106 receipts from developers – increase of £15k in 2018/19 to reflect the funding received as detailed the report;

(vii)  Note that the Market Reorganisation report elsewhere on the agenda will result in a decrease of £116k as detailed in the report;

(viii)Note that the Scadbury Park report elsewhere on the agenda requests the addition of £155k to the Capital Programme as detailed in the report; and

(ix)   Note that potential capital bids totalling around £9.8m may be separately submitted during 2018/19 as detailed in the report.  

3.  Recommend to Council:

(i)   The inclusion of the new scheme proposals listed in Appendix C in the Capital Programme; and

(ii)   The increase of £4.1m to the Property Investment Fund scheme to reflect the funding from a recent disposal of property as detailed in the report.

(8)  LOCALLY ADMINISTERED BUSINESS RATES SCHEME

  Report FSD18015

The Committee considered a report which advised of the potential government grant not yet utilised and requesting that an enhancement be made to the scheme.  The report also requested that the Director of Finance be provided with delegated authority to authorise further changes to ensure that the government funding was fully utilised to support local businesses.

The Director reported that he would be suggesting a small amendment to the recommendation to the Executive on 7^th February 2018.  The proposed amendment would extend the delegation for years 2 and 3 to further facilitate distribution of the funds to small businesses.  Members indicated they were content to support the amendment.

RESOLVED: That the Executive be recommended to:

1.  Enhance the previously adopted scheme for 2017/18 to provide eligible businesses with 50% of their net business rates increase.

2. Enhance the scheme in respect of future years to ensure full utilisation of Government funding.  Decision on the level of support to be made once accurate levels of projected expenditure can be determined.

3.  Further to 1 and 2 above, that the Director of Finance be granted delegated authority in consultation with the Director of Corporate Services and Resources Portfolio Holder, to vary the scheme further in order to maximise the use of Government funding for the current and future years on the basis of ‘miirroring’ the criteria used by the DHCLG when allocating the overall funding.