Agenda item

*RESOLVED –

That it be recommended to full Council that:

1.   The revised budget for 2018/19 be approved.

2.   Delegated authority be granted to the Director of Finance and Resources, in consultation with the Deputy Leader of the Council, to make decisions related to the application of the business rates retail relief scheme.

3.   The Collection Fund and Tax Base forecasts be noted.

4.   The overall revenue budget summary for 2019/20 be approved.

5.   The use of capital receipts to fund the revenue costs of the ICT programme be approved on the basis that implementation of the programme will lead to budget savings.

6.   The budget forecasts for 2020/21 and the medium term forecasts, as well as the strategy for addressing the projected deficits, be noted.

7.   The estimates of reserves including maintaining the General Working Balance at £1.5m be approved.

8.   The budget risks and sensitivity analysis be noted.

9.   The recommended £5 increase in the Council’s share of Council Tax for a Band ‘D’ property in 2019/20 be approved.

10.The 2019/20 Council Tax Requirement and financing be approved.

11.The Director of Finance and Resources’ assurances be noted.

REASON FOR DECISIONS

In order to meet the statutory requirements relating to setting a budget and the council tax.

The Director of Finance and Resources submitted a report on the draft General Fund budget. The report included recommendations that would be made to full Council on budget allocations and the Council Tax level for 2019/20.

The original budget for 2018/19 was approved in February, 2018 and predicted a surplus of £56k. Throughout 2018/19 there had been active management of budget variances and regular budget monitoring reports to identify further variances. Due to this strict budgetary control, the updated revised budget for 2018/19 showed an estimated surplus of £162k.

The report also detailed the Local Government Finance Settlement announced in December, 2018 which confirmed the continued reduction of the Revenue Support Grant received by local authorities which will be phased out by 2020/21.

The budget had been prepared assuming a council tax increase of £5 for a Band ‘D’ property, or 3.13% in percentage terms, which equates to 9.6 pence a week.

Members were informed of the expenditure estimates for the coming financial year as well as the medium term forecasts for 2020/21 through to 2023/24.

*RESOLVED –

That it be recommended to full Council that:

1.   The revised budget for 2018/19 be approved.

2.   Delegated authority be granted to the Director of Finance and Resources, in consultation with the Deputy Leader of the Council, to make decisions related to the application of the business rates retail relief scheme.

3.   The Collection Fund and Tax Base forecasts be noted.

4.   The overall revenue budget summary for 2019/20 be approved.

5.   The use of capital receipts to fund the revenue costs of the ICT programme be approved on the basis that implementation of the programme will lead to budget savings.

6.   The budget forecasts for 2020/21 and the medium term forecasts, as well as the strategy for addressing the projected deficits, be noted.

7.   The estimates of reserves including maintaining the General Working Balance at £1.5m be approved.

8.   The budget risks and sensitivity analysis be noted.

9.   The recommended £5 increase in the Council’s share of Council Tax for a Band ‘D’ property in 2019/20 be approved.

10.The 2019/20 Council Tax Requirement and financing be approved.

11.The Director of Finance and Resources’ assurances be noted.

REASON FOR DECISIONS

In order to meet the statutory requirements relating to setting a budget and the council tax.