Issue - meetings
Draft 17/18 - General Fund and Capital Programme
Meeting: 27/10/2016 - Cabinet (Item 90)
90 Draft 17/18 - General Fund and Capital Programme 
PDF 53 KB
To receive a report of the Director of Finance, Assets and Resources considering options available in order for the Council to set a balanced budget for 2017/18 and to agree a future strategy for further budget reductions for 2018/19 onwards.
Additional documents:
- GF and Cap Prog App 2, item 90
PDF 21 KB
- GF and Cap Prog App 2A, item 90
PDF 67 KB
- GF and Cap Prog App 3, item 90
PDF 38 KB
- GF and Cap Prog App 4, item 90
PDF 34 KB
- GF and Cap Prog App 5, item 90
PDF 15 KB
Minutes:
The Cabinet had before it and NOTED a * report of the Director of Finance, Assets and Resources considering options available in order for the Council to set a balanced budget for 2017/18 and to agree a future strategy for further budget reductions for 2018/19.
The Cabinet Member for Finance outlined the contents of the report stating that the initial aggregation of all service budgets currently indicated a General Fund budget gap of £419k. In order to balance the budget all departments will need to identify further savings.
Consideration was given to the contents of the following table.
Reconciliation of Major 2017/18 Budget Variances
|
Variances |
Amount £k |
|
External items outside of our control |
|
|
Reduced formula grant settlement |
609 |
|
Decrease in Housing Benefit Grant |
25 |
|
Pay award |
100 |
|
Pension provision |
35 |
|
Price inflation |
50 |
|
New Apprenticeship Levy |
40 |
|
Subtotal |
859 |
|
Other changes |
|
|
New apprentices |
20 |
|
DCC sharing of waste |
(200) |
|
Market Walk income |
(20) |
|
Increased income from CCLA investments |
(38) |
|
Increase in Collection Fund surplus |
(45) |
|
Contributions from town and parish councils |
(8) |
|
Increase Council tax income (£5 rise + new 200 properties) |
(176) |
|
Department of Work and Pensions rent |
(45) |
|
Additional election monies |
(29) |
|
Various additional fee income |
(60) |
|
Other net cost pressures (including reflection on 16/17 budget pressures |
161 |
|
Draft budget gap for 2017/18 |
419 |
Discussion took place regarding possible inflationary pressures.
Note: *Report previously circulated, copy attached to minutes.