To receive any apologies for absence

There were no apologies received.

To receive any declarations of interest

There were no declarations of interest received.

To consider the Part I minutes of the meeting held on 28 January 2021

RESOLVED UNANIMOUSLY: That the minutes of the meeting held on 28 January 2021 were approved.

None

Cabinet considered the budget report that set out the financial plans for the Royal Borough of Windsor and Maidenhead (RBWM) and its Net Budget Requirement and associated Council Tax level for 2021/22.

The Chairman informed Cabinet, when giving his introduction to this meeting, that there had been a closed E-petition regarding speed limits on the A308.  The lead petitioner had declined the opportunity to address Cabinet on the petition as subject matter was already planned to be undertaken, his statement had been circulated to Cabinet as requested. 

The Lead Member for Finance and Ascot informed Cabinet that this was a balanced budget that many said could not be achieved. The foundation for this was laid in the current year’s budget which was subject to greater scrutiny and challenge than in the past and included, for the first-time, contingency that has been used to manage some of the burden of savings that were prevented by COVID-19.  Through careful management of the current budget, we are able to set aside a COVID-19 reserve of £3million that will be used next year as one-off funding to help manage the impact of £9.2millon of ongoing COVID-19 costs. As Cabinet we do not doubt the challenge that we face in 2021/22 but the budget we propose provides a balance between the financial imperative and meeting the key priorities of our residents.

At last year’s budget setting Council, we voted on five separate papers that collectively made up the budget. This took time and gained nothing. This year there will be just one vote that encompasses every budget element.

Today’s papers follow that format and Cabinet will be asked to recommend the following appendices to Council.

These include;

•                     The revenue budget

•                     Fees and charges

•                     Capital budget

•                     Treasury management including strategy

•                     The Pay policy statement

•                     Proposed pay award

•                     Feedback from consultations.

The Revenue budget, fees and charges and capital budget have all been reviewed by O&S. I am sure Cabinet will wish to focus on the revenue budget but for information Fees and charges have been increase generally in line with inflation at 1.6%.

New capital projects are restricted to fully-funded schemes, where scheme costs are fully or largely met by external funding.  Income generating schemes with a strong business case, unavoidable capital investment predominantly relating to immediate requirements to replace or enhance essential fixed assets for service delivery.  There is no discretionary spending

Council will also need to approve the treasury management strategy, the approved list of counterparties with whom we invest cash balances. Table 2 on page 171, he prudential indicators on page 187 and the Minimum Revenue Provision policy.  There is a requirement to set MRP aside for all capital expenditure  we use the annuity method to calculate MRP

The Lead Member also informed that £895K has been set aside in the budget contingency to cover a pay award for RBWM, Optalis and AfC staff. The proposed RBWM pay award increases the minimum hourly rate to  ...  view the full minutes text for item 5a

To consider passing the following resolution:-

“That under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the remainder of the meeting whilst discussion takes place on item 7 on the grounds that they involve the likely disclosure of exempt information as defined in Paragraphs 1-7 of part I of Schedule 12A of the Act"

Item not required.

To consider the Part II minutes of the meeting of Cabinet held on 28 January 2021