The Mayor proposed that item 2 – Medium Term Financial Plan (General fund) 2015/16 – 2017/18, item 4 – Treasury Management Strategy Statement 2015/16 and item 5 – Capital Programme 2015/16 – 2017/18 be considered en bloc.

Cllr Mrs McKinlay advised that a figure included in the Conservative Group’s proposed amendment to the Medium Term Financial Plan (General Fund) 2015/16 – 2017/18 had been validated on several occasions by the Section 151 Officer (Ms Ireland) but had been subsequently identified as an error shortly before the deadline for submission of amendments.

The Section 151officer present (Mr Leslie) advised that figures included within the reports before Members were robust and fit for Members to make a decision.

Cllr Mrs McKinlay MOVED and Cllr Hirst SECONDED that items 2-5 be deferred to a future meeting to allow an independent assessment to take place of the figures in the reports before Members.

Following a discussion a vote was taken on a show of hands and the MOTION was LOST.

Cllr Mrs McKinlay advised that the Conservative Group’s proposed amendment, which had been circulated to Members, would not be put forward.

Cllr Lloyd MOVED and Cllr Aspinell SECONDED the recommendations in items 2, 4 and 5 en bloc and following a full discussion, in accordance with Rule 9.6 of the Council’s procedure rules, a recorded vote was taken since the decision related to the budget.

Cllr Cloke left the Chamber during voting.

For:  Cllrs Aspinell, Baker, Barrett, Carter, Chilvers, Clark, Mrs Cohen, Mrs Davies, Mrs Hubbard, Keeble, Kendall, Le-Surf, Lloyd, Morrissey, Mynott, Newberry, Quirk, Sapwell, and Mrs Squirrell (19)

Against:  Cllrs Mrs Coe, Mrs Henwood, Hirst, Mrs Hones, Hossack, Kerslake, McCheyne, Mrs McKinlay, Mrs Murphy, Dr Naylor, Parker, Reed, Russell, Ms Sanders, Sleep and Tee (16)

Abstain:  0

The MOTION was CARRIED and it was RESOLVED as follows:

In relation to Item 2 - Medium Term Financial Plan (General Fund) 2015/16 – 2017/18:  the report set out the key financial management principles and budget assumptions which were used as the framework for the detailed budget setting process.  This would ensure  that the Council’s resources were managed effectively to meet its statutory responsibilities and delivered the priorities of the Council over the medium term.

RESOLVED:

1.     To note the key assumptions that underpin the Medium Term   Financial Plan and the associated risks.

2.    To note the projected outturn of an estimated deficit of £17,000 for 2014/15.

3.    To approve the spending requirement for 2015/16 as shown in the table at para 4.38 which includes:

3.1         The sum of £163,850 for new developments

3.2         The sum of £545,000 for anticipated savings

3.3         The sum of £361,634 to be taken from the Working Balance

3.4         The sum of £350,000 to be earmarked for the WHW Development.

4.    To approve the Section 151 Officer’s Assurance Statement on the robustness of the estimates and adequacy of the reserves.

5.    That regular reports are presented to Finance & Resources Committee on the progress on delivery of the savings.

REASON FOR DECISION:

To ensure the Council’s resources were managed effectively to meet its statutory responsibilities and deliver the priorities of the Council over the medium term.

In relation to Item 4 – Treasury Management Strategy Statement 2015/16 which also outlined associated Prudential Indicators, it was RESOLVED:

1.    That the Treasury Management Strategy and Prudential Indicators for 2015/16 – 2017/18 be approved.

2.     That the Minimum Revenue Provision (MRP) Statement be approved.

3.     That the framework and criteria for determining counterparties and the Schedule of Approved Bodies for Investment be approved.

REASON FOR DECISION

The Local Government Act 2003 required the Council to adopt the CIPFA Prudential Code and produce Prudential Indicators.

In relation to Item 5 – Capital Programme 2015/16 – 2017/18 the report regarding which considered the Capital Programme and supporting strategy for the period 2015/16 - 2017/18 it was RESOLVED:

1.      To approve the proposed Capital Programme and funding totalling £21.5 million, for 2015/16 – 2017/18.

REASON FOR DECISION

The Council was required to approve the Capital Programme as part of the Budget and Policy Framework.