Issue - meetings
Budget
Meeting: 01/02/2018 - Cabinet (Item 115)
115 Budget (00-33-40) 
PDF 214 KB
To consider a report of the Director of Finance, Assets and Resources providing the proposals for the General Fund and the Housing Revenue Account for the year 2018/19.
Additional documents:
- App 1 GF Summary, item 115
PDF 20 KB
- App 2 PDG Service Movements, item 115
PDF 45 KB
- APP 3 Transfers into Earmarked Reserves, item 115
PDF 193 KB
- App 4 Transfers from Earmarked Reserves, item 115
PDF 185 KB
- App 5 HRA Summary, item 115
PDF 53 KB
- App 5a - Fees & Charges, item 115
PDF 64 KB
- App 5b - Rents, item 115
PDF 35 KB
Minutes:
The Cabinet had before it a * report of the Director of Finance, Assets and Resources providing the proposals for the General Fund and the Housing Revenue Account for the year 2018/19.
The Cabinet Member for Finance outlined the contents of the report highlighting the process that had taken place to prepare the budget, the work of senior officers and the finance team and the consultation process with the Policy Development Groups and the Scrutiny Committee. He explained the continued decline in Government funding, the impact of the National Pay Award and the changes to the New Homes Bonus which would all impact on the budget. It was with regret that he had to report that the recommendation would be to increase Council Tax by 3% so that standard services could be maintained.
He stated that the Housing Revenue Account was very well run and rent collection was exceptional, although there were concerns regarding the impact of Universal Credit.
He felt that all Members had contributed to the formation of the budget and therefore put forward the recommendations below.
Consideration was given to:
· The benchmarking scheme that had taken place with Housemark
· Changes to the way in which the training budget was allocated
· The continuation of a budget for litter picking
RECOMMENDED to Council that:
a) Council Tax is increased by 2.998% (£5.76) to £197.91.
b) General Fund budget for 2018/19 is approved.
c) The 2018/19 budget requires no transfer from the General Fund Balance.
d) The General Fund Budget requires a transfer of £222k from New Homes Bonus.
e) HRA budget for 2018/19 be approved as outlined in Appendix 5.
f) HRA fees/charges are approved based on the attached schedule shown as Appendix 5a.
g) Work on strategic planning for delivering balanced budgets in the future is commenced in the spring based on the funding levels contained in the fixed 4 year Government grant settlement & the major changes announced to Business Rates & New Homes Bonus.
h) The authority continues to maintain a 25% General Fund Balance of our net operational expenditure as referred to in para 5.1
(Proposed by Cllr P H D Hare-Scott and seconded by Cllr C R Slade)
Note: *Report previously circulated, copy attached to minutes.