Contact: Mr Henry Downey, Democratic Services Officer 028 9027 0550
An apology was reported on behalf of the Chairperson (Councillor McDonough-Brown).
Declarations of Interest
No declarations of interest were reported.
Revenue Estimates and District Rate 2023/24
The Director of Finance reminded the Committee that, at its meeting on 20th January, it had agreed the cash limit for the Strategic Policy and Resources Committee for 2023/24, as well as the recommended cash limits for the City Growth and Regeneration, People and Communities and Planning Committees.
He reported that those Committees had, on 25th January, agreed their respective cash limits and, accordingly, he submitted for the Committee’s consideration a report recommending that it:
i. confirm the cash limits which had been agreed by the Committee, at its meeting on 20th January 2023, as follows:
a. a cash limit of £50,355,486 for the Strategic Policy and Resources Committee for 2023/24, including £3,270,000 for Belfast Investment Fund and £3,000,000 for City Deal;
b. a cash limit of £98,901,629 for the People and Communities Committee for 2023/24;
c. a cash limit of £20,445,354 for the City Growth and Regeneration Committee for 2023/24;
d. a cash limit of £1,624,167 for the Planning Committee for 2023/24; and
e. a Capital Financing Budget of £22,274,022 for 2023/24;
ii. agree that the increase in the district rate for 2023/24 should be 7.99%, based on an estimated penny product of £6,602,540 meaning a non-domestic rate of 29.3221 and a domestic rate of 0.3847 and that the amount raised through the district rate in 2022/23 will be £187,441,540;
iii. note the Chief Executive’s statement on the adequacy of the Council’s reserves position and the robustness of the revenue estimates, as required by the Local Government Finance Act (Northern Ireland) 2011;
iv. note the Minimum Revenue Provision Statement, as required by the Local Government (Capital Finance and Accounting) Regulations (Northern Ireland) 2011; and
v. agree that the aforementioned decisions should not be subject to call-in, as this would cause an unreasonable delay which would be prejudicial to the Council’s and the public’s interests in striking the rate by the legislative deadline of 15th February, 2023.
After discussion, the Chairperson put the recommendations to the Committee.
On a recorded vote, thirteen Members voted in favour of the proposal to adopt the recommendations and three against, with two ‘no votes’ and it was declared carried.