Issue - meetings

To seek approval to recommendations from the Executive contained in the attached report of the Chief Finance Officer (Introduced by the Executive Member for Resources) and within the appendices listed below.

The Deputy Leader and Executive Member (Resources), Councillor Peter Wilson, presented the Executive's General Fund Revenue and Capital Budget and Council Tax 2021/22.

Councillor Wilson thanked the officers and the Labour Group for their hard work and input into the proposed budget.  He thanked all the staff working for the council for their contributions in delivering services during the Covid-19 pandemic. 

There continues to be uncertainty regarding the council’s funding streams with the Government announcing a one-year financial settlement for 2021/22 rather than the expected multi-year settlement.  There are also anticipated changes to the Business Rate Retention system and reforms to the New Homes Bonus.  Due to the this there is a proposed 1.99% increase in council tax in 2021/22.

Councillor Wilson referred to the achievements of the council in recent years, and the plans within the Corporate Strategy, which will be delivered by this proposed budget. 

The council has been ambitious in its approach to meeting the budget deficit through generating efficiency savings and additional income.  The council recognised that reductions in funding and ongoing expenditure budget pressures have resulted in a forecast budget gap of £0.881m in 2021/22 increasing to £4.168m in 2023/24.  To bridge this budget gap the Executive Cabinet has achieved forecast cumulative budget savings and additional income of £1.228m over the medium-term.

The council has a strong track record of investing in assets that enable improvements to local infrastructure and deliver new services to residents within the borough, including

·                Market Walk Shopping Centre extension

·                Strawberry Fields Digital Office Park

·                Primrose Gardens

·                purchase of the Logistics House site

Despite the budget savings identified there remain large forecast budget deficits of £1.749m in 2022/23 and £2.794m in 2023/24. To achieve a sufficient reduction in net expenditure the council’s strategy will be:

1.         To make the council more financially self-sufficient with specific emphasis on creating investment that provides benefits to residents and businesses whilst also generating income.

2.         To realise savings through the procurement of its contracts including joint contractual arrangements with South Ribble Council.

3.         To identify efficiencies through investment in infrastructure, ICT and through exploring alternative delivery models that will enable the council to balance the budget whilst seeking to minimise the impact on front line service users

In summary, the proposals will:

Involving residents in improving their local area and equality of access for all

·                £100,000 to support future planning applications and enable us to, if needed, defend locally made decisions.

·                £60,000 to continue to support vulnerable individuals through funding for the social prescribing team – as well as securing more investment from the NHS.

Clean, safe and healthy homes and communities

·                £500,000 including the removal of asbestos and for the demolition of bingo hall to make way for public realm works in the town centre making the town centre an even better place to live and work.

·                £100,000 per year to improve the services from Chorley Bus Station.

A strong local economy

·                £400,000 to fund our large commissions which enable third sector organisations to  ...  view the full minutes text for item 19