Agenda item

To consider the budget report for 2019/20.

RESOLVED to recommend for approval by the Council the 8 budget reports for 2019/20 as attached to the report in Appendices A to H and the associated Annexes.

The Portfolio Holder for Finance and Administration gave a summary of the report and its appendices. The Council was required to prepare detailed reports to enable the annual budgets for the General Fund and Council Tax, Housing Revenue Account and the Capital Programme to be set.

The Section 151 Officer was also required to provide Members with a Section 25 report giving advice and assurance on the reserves position.  The Council also had to provide a number of supporting strategies. All of these documents were presented in the report.

In response to a question from Councillor Lodge, the Portfolio Holder for Finance and Administration said he did not believe that setting up an investment advisory group was necessary for the Council to consider taking up additional investment opportunities. The Council already took significant external advice.

In response to a question from Councillor Lodge, the Portfolio Holder for Finance and Administration said the recommendation to reduce the investment limit was prompted by a perception of change in the quality of local authority debt.

The Portfolio Holders for Finance and Administration and for Housing noted that the lifting of the local authority debt cap presented an opportunity to invest in expanding the council’s housing stock, but that this would only happen if the investment was affordable. The Portfolio Holder for Housing said in the wider context, Uttlesford District Council was already good at building council housing.

RESOLVED to recommend for approval by the Council the 8 budget reports for 2019/20 as attached in Appendices A to H and the associated Annexes. The reports and individual recommendations are detailed in the table shown in paragraph 10 of the budget report. The Equalities Impact Assessment is attached as Appendix I.