Agenda and decisions

To receive any declarations and advise Members accordingly.

None.

NOTICE OF ITEMS WHICH, IN THE OPINION OF THE CHAIR, SHOULD BE CONSIDERED AT THE MEETING AS A MATTER OF URGENCY PURSUANT TO SECTION 100B(4) OF THE LOCAL GOVERNMENT ACT 1972.

None.

(a)       That the revised additional budget requirement for 2025/26 be noted and approved;

(b)       That the final proposals for the cost reductions that will contribute to the budget be approved;

(c)        That a legal and balanced budget based on the calculations set out within the report be recommended to Council;

(d)       That the open risks with remain to be managed in the 2025/26 financial year be noted;

(e)       That an overall annual increase in Council Tax for 2025/26 of 8.93% for Council Services and 0.57% for contributions to North Wales Fire and Rescue Service and Regional Coroners Service, which constitutes an overall uplift of 9.5%, be recommended to Council;

(f)        That Cabinet invites Council to pass the formal Council Tax resolution now that notification had been received of the precepts of the Police and Crime Commissioner and all Town and Community Councils in Flintshire; and

(g)       That the medium-term forecast be noted as a basis for the next revision of the Medium-Term Financial Strategy (MTFS).

That the draft Treasury Management Strategy 2025/26 be recommended to County Council for approval.

(a)       That the following be approved and recommended to County Council for Council Fund (CF) outstanding debt:

·         Option 3 (Asset Life Method) be used for the calculation of the MRP in financial year 2025/26 for the balance of outstanding capital expenditure funded from supported borrowing fixed as at 31^st March 2017.  The calculation will be the ‘annuity’ method over 49 years

·         Option 3 (Asset Life Method) be used for the calculation of the MRP in 2025/26 for all capital expenditure funded from supported borrowing from 1^st April 2016 onwards.  The calculation will be the ‘annuity’ method over an appropriate number of years, dependent on the period of time that the capital expenditure is likely to generate benefits

·         Option 3 (Asset Life Method) be used for the calculation of MRP in 2025/26 for all capital expenditure funded from unsupported (prudential) borrowing or credit arrangements, including MIM.  The calculation will be the ‘annuity’ method over an appropriate number of years, dependent on the period of time that the capital expenditure is likely to generate benefits.

(b)       That the following be approved and recommended to County Council for Housing Revenue Account (HRA) outstanding debt:

·         Option 3 (Asset Life Method) be used for the calculation of the HRA’s MRP in 2025/26 for the balance of outstanding capital expenditure funded from debt fixed as at 31^st March 2021.  The calculation will be the ‘annuity’ method over 50 years

·         Option 3 (Asset Life Method) be used for the calculation of the HRA’s MRP in 2025/26 for all capital expenditure funded from debt from 1^st April 2021 onwards.  The calculation will be the ‘annuity’ method over an appropriate number of years, dependent on the period of time that the capital expenditure is likely to generate benefits

(c)        That it be approved and recommended to County Council that MRP on loans from the Council to North East Wales (NEW) Homes to build affordable homes through the Strategic Housing and Regeneration Programme (SHARP) (which qualify as capital expenditure in accounting terms) be as follows:

·         No MRP is made during the construction period (of short duration) as the asset has not been brought into use and no benefit is being derived from its use

·         Once the assets are brought back into use, capital (loan) repayments will be made by North East Wales (NEW) Homes.  The Council’s MRP will be equal to the repayments made by NEW Homes.  The repayments made by NEW Homes will be classed, in accounting terms, as capital receipts, which can only be used to fund capital expenditure or repay debt.  The capital repayment / capital receipt will be set aside to repay debt, and is the Council’s MRP policy for repaying the loan.

There was one member of the press and one member of the public in attendance.