(a)      That it be recommended to Council:

(i)       that the revenue budget for 2015/16 (paragraph 4.15 to the submitted report) and the associated fees and charges be approved;

(ii)       that a contingency of £1.4m be created to mitigate against any unforeseen or emerging budget pressures that may arise within Social Care and other services;

(iii)      that due to the timing of and deliverability of savings within Adult Social Care, the £1.566m saving for joint working, shared commissioning, new income and efficiencies is deferred for one year and delivered in 2016/17;

(iv)      in response to the government announcement as to the amount they expect local authorities to receive for Welfare Assistance (Crisis Support Fund) the Council makes budget provision of £0.4m for the continuation of this scheme in 2015/16 and future years;

(v)      that the final notified Dedicated Schools Grant be used in accordance with the nationally laid down Schools Financial Regulations (paragraph 6.5 to the submitted report) and that the Chief Finance Officer be authorised to make amendments as required when the final figures are confirmed;

(vi)      that the Members’ Allowances Scheme be implemented in 2015/2016 in accordance with the decision of the Council at its meeting on 1 February 2012 in line with the announced annual local government pay percentage increase (paragraph 6.1 (b) to the submitted report);

(vii)     that the Chief Finance Officer in consultation with the Mayor and Executive Lead Member for Finance be authorised to approve or earmark expenditure from the Comprehensive Spending Review Reserve;

(viii)    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 (sections 7 to 9 to the submitted report);

(ix)     that the Chief Finance Officer, in consultation with the Mayor and Executive Lead Member for Finance, be authorised to make adjustments to and introduce new fees and charges within the budget during 2015/16 if it is in the best interest for the Council;

(x)      that the Chief Finance Officer, in consultation with the Mayor, Executive Lead Member for Finance and appropriate officers, be authorised to determine the allocation and expenditure of any new grant monies, unallocated grants, underspends or other additional income that may be received during the year 2015/16;

(xi)     that the Chief Finance Officer be authorised to make adjustments to the budgets for any technical changes;

(xii)     that the Chief Finance Officer prepare the appropriate documentation for the Council to approvethe setting of Council Tax at the meeting on 26 February 2015 and all other returns to be made by the appropriate date;

(xiii)    that Capital Strategy and Asset Management Plan be approved and endorsed as set out at http://www.torbay.gov.uk/draft-amp.doc and http://www.torbay.gov.uk/summarycapitalstrategy.doc;

(xiv)    that the latest updated Medium Term Resource Plan be noted, as set out at http://www.torbay.gov.uk/mtrp-v5.doc;

(xv)    that it be noted that Torbay has continued to be part of the Devonwide Pool as part of the Business Rates Retention scheme;

(xvi)    that the completed NNDR1 form be noted which forms part of the Council’s overall income to fund the 2015/16 budget (as set out at http://www.torbay.gov.uk/signedcopyofnndr1-201516.pdf);

(xvii)   the collection fund surplus as set out in section 4 of the submitted report which forms part of the Council’s overall income to fund the 2015/16 budget be noted.

(xviii)  that the additional £0.261m Revenue Support grant announced on 4 February 2015 be allocated to a contingency for social care.

(b)      that due to the size of the reductions required to deliver a balanced budget and their impact, Council accept all the risks in preparing this budget both in terms of the impact upon service delivery and the potential for budget pressures which may require remedial action during the year.  These risks have been identified in detail in this report and associated budget proposals prepared by officers for their respective Business Units.

At the invitation of the Chairwoman, the Mayor outlined his budget proposals for 2015/16.

A copy of the record of decision setting out the recommendations of the Mayor in respect of the revenue budget proposals is attached to these Minutes.

The Chairwoman advised that in accordance with Standing Orders F2.13 and F3.12 in relation to the Budget and Policy Framework this item was referred to an adjourned meeting of Council to be held on 12 February 2015 to enable full consideration to be given to the implications of the proposals set out in the report circulated on 5 February 2015.

(i)             that all Members and the Overview and Scrutiny Board consider the provisional Revenue Budget 2015/16.  The Overview and Scrutiny Board (through its Priorities and Resources Review Panel) will consider certain specific issues during January 2015 and report back to the Mayor and the Council on 5 February 2015 on the outcomes of its deliberations and stakeholder representations;

(ii)            that the Chief Finance Officer be given authority to amend these targets for any technical adjustments necessary between services and within the overall envelope of funding in agreement with the Mayor; and

(iii)      that the Chief Finance Officer report to Council on 5 February 2015 on the implications for 2015/2016 and later years as a result of these targets currently being considered and in light of the final settlement which is expected in late January or early February.