The Executive, having considered the comments from the Joint Overview and Scrutiny Committee, RECOMMENDS to the COUNCIL that:
1. a £5 per band D equivalent increase be agreed for Waverley’s element of Council Tax for 2017/2018;
2. the income and cost saving proposals be implemented, as shown at Annexe 4, including any staffing changes;
3. the growth proposals as shown at Annexe 4 be implemented, including any staffing changes;
4. the changes to Fees and Charges as shown at Annexe 5 be agreed and the setting of charges for the use of the new Memorial Hall be delegated to the Strategic Director of Operations in consultation with the Leader of the Council;
5. officers be requested to progress the projects identified in paragraph 15 that will achieve cost savings and/or generate additional income;
6. the General Fund Budget for 2017/18 be approved, as amended by the above changes;
7. the updated Financial Strategy, as set out at Annexe 1, be approved;
8. the Executive carries out a review of the Medium Term Financial Strategy and General Fund Budget in the Spring/Summer 2017 and takes any appropriate action in the light of the position at that time;
9. the 2017/18 General Fund Capital Programme and financing proposals totalling £3.3m be approved, as shown at Annexe 7, and the bringing forward of £20,000 of the new building control system budget into 2016/17;
10. in the light of the significant cut to Waverley’s New Homes Bonus, the progression of all other major capital schemes be suspended that do not appear in the capital programme and that do not generate a positive revenue benefit, with this position being reviewed in the Spring/Summer 2017; and
11. the budgets for capital schemes marked with an asterisk on the schedules be approved, but spending on these projects be subject to the agreement of the Strategic Director of Finance and Resources and Finance Portfolio Holder or the Executive, if appropriate.
[This item is recommended to the Council for decision and is not subject to the call-in procedure]
[Reason: to consider the medium term financial strategy and the latest position on the draft 2017/18 budget.