Further to the discussion on the finance reports (minute 371 refers), it was moved by Councillor Hall and seconded by Councillor Morrell that the recommendations within the Medium Term Financial Strategy report be approved. Councillor Bray along with five other councillors requested that voting on this item be recorded. The vote was taken as follows:
Councillors Boothby, Camamile, Cook, Hall, Kirby, Ladkin, Morrell, Nickerson, O’Shea, Richards, Rooney, Surtees, Sutton, Wallace, Ward, Williams and Wright voted FOR the motion (17);
Councillors Bill, Bray, Cartwright, Mr Cope, Mrs Cope, Crooks, Hodgkins, Hollick, Lynch, Nichols, Taylor and Witherford voted AGAINST the motion (12).
The motion was declared CARRIED and it was
RESOLVED – the updated Medium Terms Finance Strategy (MTFS) and increase in minimum balance target to an average of 15% over the life of the MTFS be approved.
Members were presented with the refreshed Medium Term Financial Strategy (MTFS) summary for 2016/17 to 2020/21. Key areas highlighted were the Developing Communities Fund of £1.4m, the use of the waste management reserve which would result in a borrowing requirement to fund a new fleet, business rates income and a contingency for losses on appeals.
During discussion, concern was expressed in relation to business rates and the need to ensure provision for appeals and reduction in rates was emphasised. It was highlighted that, should a large business leave the borough, this would have a great impact on the finances of the authority. The Head of Finance assured members that the provision made was sufficient and prudent.
Councillor Taylor entered the meeting at 6.58pm.
Concern was also expressed at the intention to deplete the waste management reserve and then to fund a new fleet by borrowing which, in turn, increased concern that there may be an intention to outsource refuse collection. Members wished it to be recorded that they would not support outsourcing of the refuse service.
In relation to council tax, Councillor Bray asked that it be recorded that the Liberal Democrat group did not support a £5 increase in council tax.
In response to a question about the Developing Communities Fund, it was noted that a report on criteria and eligibility would be brought to the next meeting of the Scrutiny Commission.
RESOLVED – the report be noted and the comments made be forwarded to Council.