Agenda item

This matter is the responsibility of Executive Councillor for Corporate Resources, Councillor Ross Henley.

The report sets out the draft budget estimates for 2022/23, Medium Term Financial Plan (MTFP) forecasts, and 2022/23 Capital Programme with the proposed sources of funding. Importantly this is a balanced budget with resources available to meet spending plans for the year.

During the discussion, the following points were raised:-

·       Councillors agreed that the officers had worked hard to produce a fiscally prudent budget.

·       Councillors were pleased to see that key projects would still be delivered within the budget.

·       Councillors queried why the work to create a Town Council for Taunton had not been included in the budget.  They requested reassurance that it would not hinder the work needed to be carried out.

The Section 151 Officer advised that the decision to create a Town Council had not yet been signed off and that he would include a note in the report to explain the current position for the Full Council agenda.

·       Concern was raised that the budget was for one year only and had included use of the reserve due to the creation on the New Council.

·       Councillors wanted reassurance that assets were financed, and key projects would be protected.

·       Concern was raised that the car park income was not monitored.

The Portfolio Holder for Corporate Resources advised that the car park data had been gathered but that it had been impacted by the Covid Pandemic.  The Chief Executive advised that the car park income was monitored due to funding being claimed from Central Government, which meant a detailed analysis was gathered on the income. 

·       Councillors queried whether Somerset West and Taunton Council would contribute to the cost of the formation of a Town Council for Taunton.

The Section 151 Officer advised that the process of creating a Town Council would receive input from the New Council.  The Chief Executive advised that the reserve level was above minimum to allow for the work dependant on what would be decided, however it would be for the New Council to set the budget and to see what services the Town and Parish Councils would undertake going forward which included asset transfer.

·       Councillors requested if the income for car parks could be broken down into towns, so that they could identify which areas were struggling.

·       Councillors were pleased to see that the Brewhouse was still being supported.

Resolved that:-

2.1The Executive recommended Full Council approved the Revenue Budget, Council Tax Rate and Capital Programme for 2022/23 and Supplementary Budget in 2021/22 including:

a)    Draft Revenue Net Budget of £17.018m for 2022/23.

b)    The basic Somerset West and Taunton Band D Council Tax rate of £174.63 for 2022/23.

c)    General Fund 2022/23 Capital Programme additions totalling £1.728m and 2022/23 Capital Programme Revisions of -£0.181m for previously approved schemes for 2022/23, as set out in Table 18.

d)    A Supplementary Budget in 2021/22 of £1m for additional capital debt repayment funded from General Reserves.

e)    The release of the £2.4m 2021/22 Budget Volatility and Risk Reserve with £0.4m transferred to General Reserves and £2m to fund a supplementary increase in the Revenue Contribution to Capital Outlay budget in order to finance capital expenditure in 2021/22.

f)      £570k was transferred from the 2021/22 budget to the Capital Financing Reserve to fund the increase to the Car Park Improvement Project capital budget in 2022/23.

2.2The Executive recommended delegating authority to the S151 Officer to approve the CIL capital grants budgets to reflect in-year CIL capital receipts passed to town and parishes in line with the CIL policy.