Agenda item

Cabinet noted:

1. That a report from the Budget Scrutiny Committee will follow after their meeting on 01 February.
2. The categorisation of earmarked reserves and provisions set out in Section 15 of appendix A.
3. The advice given by the Chief Finance Officer with respect to the robustness of the budget estimates and the adequacy of the Council’s reserves as set out in Section 17 of Appendix A.
4. The budget consultation process that was followed and feedback as outlined in Section 18 of Appendix A and Appendix 6.
5. The feedback provided by the Schools Forum for Cabinet and Council, consideration in making final decisions on the Dedicated Schools Budget for 2022/23.

Cabinet approved:

1. The delegation of authority to the Director of Finance after consultation with Deputy Mayor, Cabinet member for Finance, Governance, and Performance and the Mayor, to make any necessary technical adjustments or adjustments to the figures to be submitted to Full Council upon receipt of the final Local Government Finance Settlement, final precepts to be notified to the Council, West of England Combined Authority Budget, Public Health and Department for Education funding clarifications; with transfers to and or from reserves as appropriate.
2. The delegation of authority to the Director of Finance after consultation with Deputy Mayor, Cabinet member for Finance, Governance, and Performance and the Mayor, to make any necessary adjustments to incorporate the Council’s Ethical and Equitable Investment Policy into the Treasury Management Strategy submitted to Full Council, subject to approval by Cabinet at its meeting on 18th January 2022.

Cabinet will recommend to Full Council:

1. The Bristol City Council levels of Council Tax increase of 2.99%; which includes 1% precept to support Adult Social Care and noting the precepts of the Police and Crime Commissioner for Avon and Somerset and the Avon Fire Authority.
2. The Council’s General Fund net revenue budget for the year 2022/23 as £431.1 million and expenditure allocations as set out in Appendix 1; subject to any budget amendments properly notified to and approved by the Council in line with the Constitution.
3. To Agree the Council’s capital budget (including the HRA) for the years 2022/23 – 2031/32, totalling £1,906.1 million as set out in paragraph 13 and detailed in Appendix 2.
4. The proposed total Schools budget of £418.8 million for 2022/23 as set out in section 9 Appendix A, which will be funded by the Dedicated Schools Grant.
5. The proposed Treasury Management Strategy for 2022/23 in Appendix 4, incorporating the Minimum Revenue Provision policy and the prudential indicators and limits.
6. The calculations for determining the Council Tax requirement for the year 2022/23 as outlined in Section 8 of Appendix A and in accordance with the Local Government Finance Act 1992.
7. To approve the Strategy for the Flexible use of Capital Receipts as set out in Appendix 5.