Issue - meetings
Budget
Meeting: 05/02/2015 - Cabinet (Item 108)
PDF 291 KBTo receive a report of the Head of Finance proposing the budget for 2015/16 for consideration by Council.
Additional documents:
Minutes:
The Cabinet had before it a report * of the Head of Finance proposing the budget for 2015/16 for consideration by Council.
The Cabinet Member for Finance was able to confirm that a balanced budget had been produced for recommendation to Council. He reported that greater efficiencies and further savings would be required in future years which may impact on service provision.
Consideration was given to:
· The ongoing cut in formula grant
· The need to use the New Homes Bonus to support capital expenditure and to consider other areas of funding.
RECOMMENDED that
a) Council Tax is frozen at the 2014/15 level - £182.15.
b) General Fund budget for 2015/16 is approved (which includes the acceptance of the Council Tax freeze grant – shown in Appendix 1
c) The 2015/16 budget requires no transfer from the General Fund Balance.
d) HRA budget for 2015/16 be approved – Appendix 3.
e) HRA rents to be increased by an average of 3.4%.
f) Other HRA fees/charges are approved based on the attached schedule shown as Appendix 4.
g) That work on strategic planning for delivering balanced budgets in the future be commenced with a new Corporate Plan once the new Council is formed after the District elections in May.
(Proposed by the Chairman)
Note * Report previously circulated, copy attached to signed minutes.