(1)

that additional income from the core council tax base of £0.200m is allocated to offset the shortfall from the indicative budget;

(2)

that £0.268m from additional New Homes Bonus is allocated to a revenue contingency held within corporate items;

(3)

to approve an increase of two per cent (2%) in council tax for 2013/14;

(4)

that specific grants subsumed into formula grant for 2013/14 are pass-ported to the relevant directorate to which the spending commitments relate;

(5)

that the combined additional funding and spend reduction in Early Intervention Grant of £1.9m is pass-ported into the People Directorate as a contingency for the 2013/14 financial year only;

(6)

that the £0.200m MTFF allocation for the impact of school transfer and the £0.300m allocation for forecasted shortfall on council income is moved into a revenue contingency;

(7)

that a new allocation of £0.250m is made to the People Directorate to reflect loss of income from the Plymouth Life Centre naming rights;

(8)

that the three additional delivery plans of Terms and Conditions £0.100m; Treasury Management Property Investment fund £0.250m; and Treasury Management day-to-day investment return £0.0250m are approved.

(9)

to utilise £7m of the Housing Stock Transfer (VAT Shelter) Receipts (£4m received to date plus £3m anticipated) to fund the overall capital programme.

(10)

to utilise £0.5m of the Revenue Reserve for capital financing to support the Plan for Jobs revenue initiatives, and a further £0.475m to fund the overall Capital Programme 2012/13 – 2015/16.

(11)

to draw-down £0.800m against the Waste Management Reserve in 2013/14 to address the anticipated funding shortfall on waste disposal (increased landfill tax liability);

(12)

that £1.000m from the NNDR calculation is held as a technical reform contingency within corporate items;

(13)

that £0.900m of the council tax income calculation is held as a technical reform contingency within corporate items;

(14)

to approve the capital programme as detailed in Figure 5 and Appendix B;

(15)

to approve the proposed net revenue budgetrequirement for 2013/14 of £212.563m;

(16)

using the council tax base for 2013/14 as 66,958 [Item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended (the “Act”)]; to calculate that the council tax requirement for the council’s own purposes for 2013/14 is £85,007,402;

(17)

that the following  amounts are calculated for the year 2013/14 in accordance with Sections 31 to 36 of the Act:

(a)

£554,191,254 being the aggregate of the amounts which the council estimates for the items set out in Section 31A(2) of the Act (Gross Expenditure and Transfers to Reserves);

(b)

£469,183,852 being the aggregate of the amounts which the council estimates for the items set out in Section 31A(3) of the Act (Gross Income and Transfers from Reserves);

(c)

£85,007,402 being the amount by which the aggregate at 9(a) above exceeds the aggregate at 9(b) above, calculated by the council in accordance with Section 31A(4) of the Act as its council tax requirement for the year. (Item R in the formula in section 31B of the Act);

(d)

£1,269.56 being the amount at 9(c) above (Item R), all divided by Item T (7 above), calculated by the council, in accordance with Section 31B of the Act, as the basic amount of its council tax for the year;

(18)

to note that the Police Authority and the Fire and Rescue Authority have not at present issued precepts to the council in accordance with Section 40 of the Local Government Finance Act 1992 for each category of dwellings in the council’s area. Once confirmed these will be included in the tables below;

 (19)

the council, in accordance with Sections 30 and 36 of the Local Government Finance Act 1992, will set the indicative aggregate amounts shown in the tables below as the amounts of council tax for 2013/14 for each part of its area and for each of the categories of dwellings –

Plymouth City Council after two per cent increase

A

B

C

D

£846.38

£987.44

£1128.50

£1269.56

E

F

G

H

£1551.69

£1833.82

£2115.94

£2539.13

Devon and Cornwall Police Authority at 2012/13 level

A

B

C

D

£106.49

£124.23

£141.98

£159.73

E

F

G

H

£195.23

£230.72

£266.22

£319.46

Devon and Somerset Fire Authority at 2012/13 level

A

B

C

D

£49.28

£57.49

£65.71

£73.92

E

F

G

H

£90.35

£106.77

£123.20

£147.84

Aggregate of Council Tax Requirements prior to Police and Fire Authority announcements

A

B

C

D

£1002.15

£1169.16

£1336.19

£1503.21

E

F

G

H

£1837.27

£2171.31

£2505.36

£3001.43

(20)

to approve: 

(a)

the Treasury Management Strategy Statement for 2013/14; 

(b)

the Investment Strategy for 2013/14 set out in Sections 8 and 9 of the report including the use of Specified and Non-Specified Investments;

(c)

the lending organisations and counterparty limits set out in Appendix C; 

(d)

the Prudential Indicators set out in the report covering the revised indicators/limits for 2012/13 and the forecasts/limits for 2013/14 to 2015/16;

(e)

the authorised borrowing limits of £310m, £301m and £285m for the period 2013/14 to 2015/16;

(f)

the operational boundary of £289m, £280m and £270m for 2013/14 to 2015/16;

(g)

the Minimum Revenue Provision (MRP)  Policy for 2013/14.