This report and appendices sets out all the relevant information in support of setting the Councils Budget for General Fund services and Council Tax for 2022/23, together with financial forecast information through to 2024/25. Also included is information on the Housing Revenue Account (HRA) budget for 2022/23 and the Capital Programme 2022/23 to 2024/25.

(i)              Appendix A - The General Fund budget proposals for 2022/23 to 2024/25.

(ii)             Appendix B - The Housing Revenue Account (HRA) budget proposals for 2022/23 onwards.

(iii)           Appendix C - The Capital and Investment Strategy for 2022/23 including the Councils capital Programme 2022/23 to 2024/25

(iv)           Appendix D - Pay Policy Statement

(v)             Appendix E - Section 151 Officers Assurance Statement and useful information

(vi)           Appendix F: Corporate Strategy Budget Summary

The Policy, Resources and Economic Development Committee is required to consider the proposals and make recommendations to Ordinary Council for approval on 23rd February 2022.

The figures presented summarise the detailed service budgets, together with known adjustments including the impact of the provisional central government grant funding along with financial implications of COVID-19.

The key elements of the proposed budget are:

General Fund:

 1) £5 increase in Council Tax for 2022/23 for Brentwood Council services.

 2) Earmarked Reserves to set aside appropriate balances to mitigate future financial risk and build up in borough regeneration.

 3) Future uncertainty of Local Government Financing.

Housing Revenue Account:

1) For 2022/23 a budget that delivers a small surplus of £34k.

2) Increase in rents of CPI plus 1% per annum; equating to 4.1%.

3) Continued investment in the delivery of Decent Homes and Development of Housing within the Borough.

4) Significant investment in the Strategic Housing Delivery Programme ensuring the 30 year business plan is sustainable.

Capital:

1) Total capital investment of £41.420 million in 2022/23

2) Subsequent investment of £38.9 million & £22.3million from 2023 to 2025.

The Chair thanked officers Mrs Van Mellaerts, Ms Barnes and the finance team on work produced. 

After a full discussion, Cllr Hossack MOVED and Cllr Parker SECONDED the recommendations in the report. A vote was taken and it was RESOLVED.

Members are asked to:

R1. Approve the proposals for the General Fund Budget and MediumTerm Financial Strategy as set out in Appendix A and recommend to Ordinary Council for approval on 23rd February 2022.

R2. Recommend that Council Tax has a £5 increase for 2022/23, the charge of Band D property increasing to £198.63 per annum for Brentwood Council services only.

R3. Approve proposals for the HRA budget 2022/23 including the 30 year HRA Business Plan within Appendix B and recommend to Ordinary Council for approval on 23rd February 2022.

R4. Approve an increase to rents for 2022/23 by CPI plus 1%

R5. Approve the Capital and Investment Strategy in Appendix C including the Capital Programme and recommend to Ordinary Council for approval on 23rd February 2022.

R6. To note the Pay Policy Statement in Appendix D and recommend for approval at Ordinary Council on 23rd February 2022.

R7. To note the Section 151 Officers Assurance Statement in Appendix E when recommending all for approval to Ordinary Council on 23^rd February 2022.

Reasons for Recommendation

Effective financial management underpins all of the priorities for the Council and will enable the Council to operate within a sustainable budget environment.

The Council is required to approve the Budget as part of the Budget and Policy Framework Page.

A vote was taken on Standing Orders and it was UNANIMOUSLY AGREED to extend the meeting for a further 30 minutes.