Apologies for absence were received from Councillors Lang and Manning.

At the invitation of the Chairman, the Monitoring Officer reminded Members of the dispensation granted in respect of Members’ interests in relation to the setting of the Council Tax and matters relating to Council controlled companies where Members were appointed as unpaid directors by the Council.  It was noted that this meant Members were permitted to discuss and vote on the budget in respect of these matters without the need to declare an interest.

The Mayor declared a pecuniary interest in respect of Minute132 in relation to Connections.

To consider the recommendations of the Mayor on the Budget proposals for 2016/2017.  Included in this report are the following documents:

·         Revenue Budget 2016/2017

·         Budget Digest 2016/2017

·         Proposals for service change, income generation and savings 2016/2017

·         Equality Impact Assessments 2016/2017

·         Fees and Charges 2016/2017

·         Review of Reserves 2016/2017

·         Treasury Management Strategy 2016/2017 (incorporating the Annual Investment Strategy 2016/2017 and the Minimum Revenue Provision Policy 2016/2017

·         Revenue Budget Monitoring 2015/2016 – Quarter Three

·         Children’s Financial Plan – Progress Report

Further to the meeting of the Council held on 3 February 2016, Members considered the recommendations of the Mayor in relation to the Revenue Budget 2016/17, the Review of Reserves 2016/2017 and the Treasury Management Strategy 2016/2017 as set out in the submitted report.  In addition, the Quarter 3 Revenue Budget Monitoring was noted.

In accordance with legislation, the Chairman advised that recorded votes would be taken on the motion and amendments.

It was proposed by the Mayor and seconded by Councillor Mills:

that it be recommended to Council:

(i)         that the net revenue expenditure and council tax requirement for 2016/17, as shown in paragraph 3.3 of the submitted report, that includes the funding raised by the 2% council tax increase specifically for adult social care, be approved;

(ii)        that in relation to (i) above, Council confirms its commitment (by a statement signed by the Section 151 Officer) to allocate the additional funding raised by the 2% council tax increase to adult social care in 2016/17 and in future years;

(iii)       that the 2016/17 allocation of the revenue budget to services as per the budget digest and the associated fees and charges (both circulated separately) be approved;

(iv)       that the Dedicated Schools Grant be used in accordance with the nationally laid down Schools Financial Regulations (paragraph 11 of the submitted report) and that the Chief Finance Officer be authorised to make amendments as required when the final figures are confirmed and this authorisation be  included in the officer scheme of delegation;

(v)        that in accordance with the requirement of the Local Government Act 2003, to consider and note 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 (paragraph 12 of the submitted report);

(vi)       that Council approve the temporary use of £2.5m from the Insurance Reserve in 2015/16 to fund the projected 2015/16 overspend, which is  to be repaid from the 2016/17 budget;

(vii)      that Council note that Brixham Town Council have yet to set their budget for 2016/17 and this precept, when known, will be included as part of the Torbay Council budget for Council Tax setting purposes;

(viii)     that, subject to clarification of the acceptance process from DCLG, that Council delegate acceptance of a four year funding settlement for Revenue Support Grant to the Chief Finance Officer in consultation with the Mayor  and Executive Director of Operations and Finance;

(ix)       that, the Review of Reserves 2016/2017, as set out in the submitted report at appendix 3, be approved; and

(x)        that, the Treasury Management Strategy 2016/2017 (incorporating the Annual Investment Strategy 2016/2017 and the Minimum Revenue Provision Policy 2016/2017), as set out in the submitted report at appendix 4, be approved.

(Note:  Prior to consideration of the following two objections, the Mayor declared his pecuniary interest in relation to Connections and withdrew from the meeting.)

In accordance with Standing Order A14.4 an objection was proposed by Councillor  ...  view the full minutes text for item 132.

To consider the recommendations of the Mayor on the Capital Plan Budget proposals for 2016/2017 to 2019/2020.  Included in this report are the following documents:

·         Capital Plan Update – Quarter 3 2015/2016

·         Capital Strategy

·         Asset Management Plan

Further to the meeting of the Council held on 3 February 2016, Members considered the recommendations of the Mayor in relation to the Capital Plan Budget 2016/2017 to 2019/2020, 2016/17 Capital Strategy and Corporate Asset Management Plan 2015 to 2019.  The report also set out the quarter 3 2015/2016 Capital Plan monitoring information.

In accordance with legislation, the Chairman advised recorded votes would be taken on the objections.

It was proposed by the Mayor and seconded by Councillor Mills:

(i)        that the latest position for the Council’s Capital expenditure and funding for 2015/16 be noted;

(ii)       that 2016/17 Capital Strategy (set out at Appendix 1 of the submitted report) be approved;

(iii)      that prudential borrowing of £10 million for an Investment Fund to enable acquisition of properties for investment purposes to be funded from future rental income be approved and that purchases within the Fund to besubject to specific criteria:

-       Rate of Return expected to exceed 6% per annum net of costs

-       Property assessed as an asset life in excess of 50 years (or repayment period)

-       Tenants assessed as reasonable credit quality and pre lets agreed if possible

-       Independent valuation of asset to support purchase price

-       Any UK property to be considered subject to no more than 50% in any county area.

-       Any sale proceeds of assets purchased to be reinvested in fund.

and that the allocation of the Fund, if the criteria is met, be agreed by Executive Director  of Operations and Finance in consultation with the Chief Finance Officer and the Mayor and Group Leaders with the Overview and Scrutiny Co-ordinator being notified in advance of any decisions;

(iv)      that prudential borrowing of £3 million for essential capital repair works be approved with the cost of borrowing to be included in future year revenue budgets and that the allocation of the budget be agreed by the Executive Head – Business Services in consultation with the Chief Finance Officer and the Mayor and Group Leaders with the Overview and Scrutiny Co-ordinator being notified in advance of any decisions;

(v)       that prudential borrowing of £0.350 million to upgrade and update the Council’s CCTV equipment be approved with the cost of borrowing to be included in future year revenue budgets offset by any future external contributions and any resulting revenue savings;

(vi)      that prudential borrowing of £1.0 million for an IT Investment Fund for 2016/17 to 2019/20 be approved with the cost of borrowing to be included in future year revenue budgets and that the allocation of the Fund be agreed by Executive Director of Operations and Finance consultation with the Chief Finance Officer, the Executive Head – Customer Services and the Executive Lead for Customer Services;

(vii)     that the reallocation of £0.5m within the existing schools capital allocation to provide two mobile accommodation buildings at Paignton Community Sports Academy be approved to meet an immediate need for pupil places;

(viii)    that the allocation of £0.350m to improvements at The  ...  view the full minutes text for item 133.