1. That the proposals for Directorates’ contributions to deliver the Corporate Strategy 2014-19, as set out in Annex 1of the submitted report, be approved.
2. That the detailed service revenue and capital budgets for the years 2014/15 and indicative budgets for 2015-19, including amendments resulting from the Final Local Government Financial Settlement and other Government funding changes announced after the 2014/15 budget was approved in February 2014, as set out in Annex 2 of the submitted report, be approved.
3. That the publication of the service revenue and capital budgets as the 2014-19 Medium Term Financial Plan be approved.
4. That the fees & charges approved under delegated powers be endorsed and other fee and charge proposals, as set out in Annex 3 of the submitted report, be approved.
5. That the work underway to secure the savings allocated to Adults Social Care in each year of the MTFP period, as set out in paragraph 9 of the submitted report, be noted.
6. That the requirement to re-profile the Adult Social Care savings across the period, as set out in paragraph 9 of the submitted report, be noted and the use of unused provisions and reserves to support that requirement be approved:
· the reduction of the council’s potential loss on its investment in two Icelandic banks, leads to a reduction in the required reserve of £1.0m (paragraph 12 of the submitted report)
· the settling of the council’s Mutual Municipal Insurance liability in late February 2014 leads to the release of £3.3m from the Insurance Reserve (paragraph 13 of the submitted report)
· the use of £5.4m from the Budget Equalisation Reserve (paragraph 14 of the submitted report)
· the use of £4.3m from the Economic Downturn Reserve (paragraph 14 of the submitted report)
7. That a report be received in July 2014 on the detailed savings programme following a further review by the Chief Executive and Chief Financial Officer.
8. That the Council will develop proposals to respond to damage to roads caused by flooding up to £10m, and that it is not the intention that this impacts on Project Horizon and also that it be noted that some funding is being made available from Central Government with any shortfall to be met by adjustments to the capital programme, and:
9. That a report be received in July 2014 on the impact of the severe weather on services work programmes and the council’s revenue and capital budgets.
10. That the Leadership Risk Register, as set out in Annex 4 of the submitted report, be noted.
11. That the Equality Impact Assessment of the savings proposals within the Directorate and service budgets, as set out in Annex 5 of the submitted report, be noted
Reasons for Decisions:
The 2014–19 MTFP is a five year budget that is aligned to the corporate strategy. It reflects assumptions about the current local and national financial, economic and political environment. Regular reporting through the year will enable progress to be effectively tracked and managed.
The Corporate Strategy 2014-19 sets out the council’s key priorities, which are supported by contributions from each directorate to ensure the Council delivers great value to Surrey residents.
[The decisions on this item may be called in by the Council Overview and Scrutiny Committee]