Decision details

This report presents an update on the Council’s financial strategy. It will include the funding outlook for Camden and update on the implications of 2018/19 Finance Settlement.

RESOLVED –

(i)            THAT the latest developments regarding the Council’s funding outlook as set out in paragraphs 4.1 – 4.3 of the report be noted;

(ii)          THAT the progress towards implementing the current financial strategy as set out in paragraphs 4.8 – 4.19 of the report, including the 2018/19 budget reductions in Adult Social Care as set out in the Delivering strengths based and sustainable Adult Social Care: phase two Medium Term Financial Strategy savings proposals (2018/19) paper also on the agenda and referred to in paragraphs 4.16 – 4.18 of the report be noted;

(iii)         THAT the projected medium-term deficit following the completion of the current financial strategy and the new framework to deliver the required budget reductions, as set out in paragraphs 4.4 – 4.7 of the report, be noted;

(iv)         THAT the recent developments regarding a London-wide business rates pilot pool for 2018/19 be noted and the designation of a pool by the Secretary of State as set out in paragraphs 4.24 – 4.29 of the report be agreed in principle, but it be noted that the final decision will rest with the Leader in accordance with paragraph 4.28 of the report;

(v)       THAT the current estimates of 2018/19 pressures as presented in paragraphs 4.35 – 4.37 of the report be noted;

(vi)       THAT authority be delegated to Executive Directors to decide increases to existing fees and charges up to a maximum of 5%, in consultation with the relevant portfolio holders;

(vii)      THAT the particular content in Appendix B of the report setting out supporting information for the new fees and charges and the fees and charges where the proposed increase is over 5% be noted;

(viii)     THAT the new fees and charges shown in Appendix C of the report be agreed;

(ix)       THAT the increase in fees and charges where the proposed increase is over 5% as shown in Appendix D of the report be agreed;

(x)        THAT the outcomes of the review of earmarked reserves and the balances available for reallocation as set out in paragraphs 4.56 – 4.57 be noted; and

(xi)       THAT the forecast financial outturn position for 2017/18 discussed in section 4.58 – 4.59 (revenue) and section 4.65 – 4.67 (capital) be noted.

                        ACTION BY:             Executive Director Corporate Services

Reasons

For the reasons set out in the report.