Decision details

The Executive RECOMMENDED to Council that the 2021/22 General Fund Revenue Budget of £14,069,625 as set out in Annex A to the agenda report be approved.

The Executive RESOLVED to note:

1.    That a minimum revenue provision of £2,274,000 is required to repay debt;

2.    That the budget includes provision for an earmarked reserve of £800,000 to offset any further deterioration in income arising from the pandemic and associated economic downturn;

3.    That the budget includes the utilisation of £300,000 from the General Fund Reserve;

4.    The provisional NNDR baseline of £1,568,000 and the final settlement on will be reported to Council at its meeting on 24th February 2021;

5.    That a full report, setting out Council Tax proposals for 2021/22 will be presented to Council on 24th February 2021, but that for the purposes of this report it has been assumed that Council Tax will increase by £5.00 (from £223.66 to £228.66) at Band D.