Cabinet received a report of the Deputy Leader and Cabinet Member for Finance and Resources regarding the Revenue Budget Strategy and Council Tax 2012/2013.

Councillor Samuel noted a factual amendment which was required under Part 7 – Consultation and Engagement of the report. He clarified that the consultation referred to had not taken place at an evening session and the words ‘ ‘who attended an evening run by the OPM organisation’ should be deleted from the report.

Resolved subject to the amendment in the report as outlined above: That Cabinet:

1. Note the advice of the Director of Finance and Corporate Services in respect of Section 25 of the Local Government Act 1003 in setting the budget.
2. Recommend the approval of the Revenue Budget for 2012/13 to Council.
3. Recommend to Council the agreement that the Richmond Upon Thames element of the Band D Council Tax be unchanged at £1287.39, thereby enabling the Council to accept a further £2.896 million one off funding in Council Tax Freeze Grant from the Government
4. Note the expected Greater London Authority (GLA) precept of £306.72
5. Recommend to Council to agree the overall Band D Level of Council Tax for 2012/13 including the GLA element to be set at £1,594.11, a reduction of 0.19% on 2011/12. The levels of Council Tax for all property bands were noted in Appendix A.
6. Approve the revised Medium Term Financial Strategy (Appendix C) including the efficiencies / savings identified and the expansion of the 5 year capital programme.