Issue - meetings
Medium Term Financial Strategy and Consultation Budget
Meeting: 19/12/2012 - City Executive Board (became Cabinet on 13 May 2019) (Item 77)
Report of the Head of Finance attached.
This report will present the Council’s Medium Term Financial Strategy for 2013/2014 to 2017/2018, and the 2013/2014 Budget for consultation.
Additional documents:
- Financial Strategy and Budget - Appendix 1, item 77 PDF 39 KB View as XLS (77/2) 86 KB
- Financial Strategy and Budget - Appendix 2(a), item 77 PDF 45 KB View as XLS (77/3) 944 KB
- Financial Strategy and Budget - Appendix 2(b), item 77 PDF 41 KB View as XLS (77/4) 944 KB
- Financial Strategy and Budget - Appendix 2(c), item 77 PDF 40 KB View as XLS (77/5) 944 KB
- Financial Strategy and Budget - Appendix 2(d), item 77 PDF 40 KB View as XLS (77/6) 944 KB
- Financial Strategy and Budget - Appendix 3 (Header), item 77 PDF 8 KB View as XLS (77/7) 668 KB
- Financial Strategy and Budget - Appendix 3(a), item 77 PDF 28 KB View as XLS (77/8) 668 KB
- Financial Strategy and Budget - Appendix 3(b), item 77 PDF 5 KB View as XLS (77/9) 668 KB
- Financial Strategy and Budget - Appendix 3(c), item 77 PDF 31 KB View as XLS (77/10) 668 KB
- Financial Strategy and Budget - Appendix 3(d), item 77 PDF 29 KB View as XLS (77/11) 668 KB
- Financial Strategy and Budget - Appendix 3(e), item 77 PDF 25 KB View as XLS (77/12) 668 KB
- Financial Strategy and Budget - Appendix 3(f), item 77 PDF 6 KB View as XLS (77/13) 668 KB
- Financial Strategy and Budget - Appendix 3(g), item 77 PDF 25 KB View as XLS (77/14) 668 KB
- Financial Strategy and Budget - Appendix 3(h), item 77 PDF 31 KB View as XLS (77/15) 668 KB
- Financial Strategy and Budget - Appendix 3(i), item 77 PDF 30 KB View as XLS (77/16) 668 KB
- Financial Strategy and Budget - Appendix 3(j), item 77 PDF 32 KB View as XLS (77/17) 668 KB
- Financial Strategy and Budget - Appendix 3(k), item 77 PDF 33 KB View as XLS (77/18) 668 KB
- Financial Strategy and Budget - Appendix 3(l), item 77 PDF 5 KB View as XLS (77/19) 668 KB
- Financial Strategy and Budget - Appendix 3(m), item 77 PDF 31 KB View as XLS (77/20) 668 KB
- Financial Strategy and Budget - Appendix 3(n), item 77 PDF 39 KB View as XLS (77/21) 668 KB
- Financial Strategy and Budget - Appendix 3(o), item 77 PDF 32 KB View as XLS (77/22) 668 KB
- Financial Strategy and Budget - Appendix 3(p), item 77 PDF 26 KB View as XLS (77/23) 668 KB
- Financial Strategy and Budget - Appendix 3(q), item 77 PDF 5 KB View as XLS (77/24) 668 KB
- Financial Strategy and Budget - Appendix 3(r), item 77 PDF 29 KB View as XLS (77/25) 668 KB
- Financial Strategy and Budget - Appendix 4, item 77 PDF 30 KB View as XLS (77/26) 35 KB
- Financial Strategy and Budget - Appendix 5, item 77 PDF 21 KB View as XLS (77/27) 3 MB
- Financial Strategy and Budget - Appendix 6, item 77 PDF 28 KB View as XLS (77/28) 212 KB
- Financial Strategy and Budget - Appendix 7(a), item 77 PDF 31 KB View as XLS (77/29) 547 KB
- Financial Strategy and Budget - Appendix 7(b), item 77 PDF 16 KB View as XLS (77/30) 547 KB
- Financial Strategy and Budget - Appendix 7(c), item 77 PDF 70 KB View as XLS (77/31) 547 KB
- Financial Strategy and Budget - Appendix 7(d), item 77 PDF 43 KB View as XLS (77/32) 547 KB
- Financial Strategy and Budget - Appendix 7(e), item 77 PDF 16 KB View as XLS (77/33) 547 KB
- Financial Strategy and Budget - Appendix 7(f), item 77 PDF 18 KB View as XLS (77/34) 547 KB
- Financial Strategy and Budget - Appendix 7(g), item 77 PDF 31 KB View as XLS (77/35) 547 KB
- Financial Strategy and Budget - Appendix 7(h), item 77 PDF 28 KB View as XLS (77/36) 547 KB
- Financial Strategy and Budget - Appendix 7(i), item 77 PDF 18 KB View as XLS (77/37) 547 KB
- Financial Strategy and Budget - Appendix 7(j), item 77 PDF 13 KB View as XLS (77/38) 547 KB
- Financial Strategy and Budget - Appendix 7(k), item 77 PDF 23 KB View as XLS (77/39) 547 KB
- Financial Strategy and Budget - Appendix 7(l), item 77 PDF 17 KB View as XLS (77/40) 547 KB
- Financial Strategy and Budget - Appendix 7(m), item 77 PDF 16 KB View as XLS (77/41) 547 KB
- Financial Strategy and Budget - Appendix 8, item 77 PDF 25 KB View as XLS (77/42) 39 KB
- Financial Strategy and Budget - Appendix 9, item 77 PDF 24 KB View as XLS (77/43) 2 MB
- Financial Strategy and Budget - Appendix 10, item 77 PDF 37 KB View as DOC (77/44) 64 KB
Minutes:
The Head of Finance submitted a report (previously circulated, now appended) concerning the Council’s Medium Term Financial Strategy for 2013/2014 to 2016/17. It also presented the 2013/14 Budget for consultation.
Councillor Ed Turner introduced the Budget and explained the background. He highlighted the fact that the Council has delivered £7 million of efficiency savings, which was a testament to the hard work and commitment of staff across the organisation. Overall, officers had now done a great job in preparing a budget that reflected priorities laid out by Councillors.
Councillor Price pointed out that the Budget before the Board was a budget until 2016/17, and that of necessity it contained assumptions about Government funding. It contained some contingencies and aimed to be realistic. As well as being about money, the budget reflected political priorities, in that it sought to tackle the worst problems of deprivation within the City, and to defend poorer communities in an effective manner.
Councillors Coulter, Sinclair and Curran all commended the budget for its commitment to both the elderly and the young within Oxford.
Councillor Jean Fooks asked for further information about the Dial A Ride Scheme. Councillor Turner explained that the money in the budget for this was a contingency to enable officers to negotiate an increased service for Oxford – the City Council would invest only for services additional to those provided by the County Council.
In answer to a question, Lindsay Cane (Legal Services) confirmed that any agreement between the County Council and District Councils about the Dial a Ride service was a contractual one – there was no statutory duty for District Councils to be involved with this.
In answer to further questions from Councillor Fooks, Councillor Turner explained that it was not possible to provide outturn figures for the current year’s budget because the year had not yet finished. Councillor Curran added that, as far as Educational Attainment was concerned, it had been intended to have 10 schools participate, however 12 had shown interest, of which 3 had not yet signed up to the scheme (mostly because of personal changes at the school). A briefing about the Youth Ambition Programme had recently gone out, and bids for the Social inclusion Fund would open shortly.
Councillor Turner further explained the various means (both electronic and other) by which the Council would consult with residents and stakeholders about this budget.
Resolved
That the following is recommended to Council:-
a) Agree the Council’s Medium Term Financial Strategy for 2013-14 to 2016-17 and the 2013-14 General Fund, Housing Revenue Account and Capital budgets for consultation as set out in Appendices 1-7 of the report;
b) Agree to consult on an increase in Council Tax of 2% for 2013/14 as set out in paragraph 28 of the report;
c) Agree to consult on an increase in council housing rents for 2013/14 of 4.61% utilising the national convergence formula, as set out in paragraph 61 of the report;
d) Agree to consult on an increase in council ... view the full minutes text for item 77