Decision details

1.1 Note the key points from the Local Government Finance Settlement and the impact on the budget position for 2022/23

1.2 Note the feedback on the draft budget proposals from the Budget and Corporate Scrutiny Board at para 4.26.

1.3 Note the feedback on the draft budget from business representatives at para 4.25.

1.4 That Cabinet have due regard to the feedback from Equality Impact Assessments and consultation feedback as set out in the report and Appendix C.

1.5 That the fees and charges increases for 2022/23, as set out at Appendix D, be approved.

1.6 That the contract sum for Sandwell Children’s Trust of £70.474m be approved as set out at para 4.10.

1.7 That the final General Fund budget position as set out at Appendix E be approved and recommended to Council.

1.8 That the Housing Revenue Account budget for 2022/23 be approved as shown at Appendix E and recommended to Council.

1.9 That the Council Tax precept for 2022/23 of £117,967,934, representing a 1.99% increase in Council Tax and a further 3% increase in the Adult Social Care precept be recommended to Council for approval.

1.10 That the Director of Finance’s assurance statement on the robustness of the budget estimates and reserves at Appendix G position be noted.

1.11 That the Treasury Management Strategy and Prudential Indicators at Appendix J be recommended to Council for approval.

1.12 That the Capital Programme for the General Fund and Housing Revenue Account for 2022/23 and Capital Strategy be approved and recommended to Council as set out at Appendix H and I.

1.13 That the Director of Finance be authorised to make transfers to or from reserves during the financial year to ensure that adequate reserves are maintained and adjusted when spend from earmarked reserves is required.

1.14 That the Director of Finance be authorised to adjust the funding sources applied to the Capital Programme during the year to maximise flexibility in use of capital resources and minimise borrowing costs where possible.

1.15 That a fundamental review of the Medium-Term Financial Plan and Capital Strategy be undertaken in the first quarter of 2022/23 and bought back to Cabinet for approval.

1.16 That the Director of Finance, in consultation with the Cabinet Member for Finance and Resources, be authorised to approve and administer the Council Tax rebate scheme for 2022/23 and approve a policy for the discretionary element of the scheme.