Issue - meetings

Report of the Head of Finance

Presented by the Corporate Portfolio Holder

The Corporate Portfolio Holder presented the report to Members.

He advised Members that the Council’s financial position had improved, as the savings that had been needed, had been reduced from £1.5m to nearer £700k. This was through increased efficiency, additional income generated locally and by national policy changes, and that this in turn meant that the Council Tax could be frozen for the fifth year running and a number of savings proposals considered in December including charging for Green Waste collections and increases in car parking charges would not go ahead, and that the existing concessions for people on means-tested benefits would be retained.

He also informed Members that the report contained details of the projected outturn for 2013/14 and that there was a forecast underspend of £876k. He advised Members that these resources would provide a fund to further the Council’s priorities.

The Members expressed their thanks to the Chief Executive and her team for all their hard work in enabling the Council to achieve the position.

It was moved by Councillor N J Rushton, seconded by Councillor R Blunt and

RESOLVED THAT:

1.The level of reserves and assurance statement by the Section 151 Officer in   section 7 of the report be noted.

2. Council be recommended:

a.    To approve the transfer of the surplus income over expenditure in 2014/15 to the General Fund Reserve at 31 March 2015.

b.    To approve the implementation of the budget savings for 2014/15 set out in appendix 2.

c.    To approve the General Fund Budget for 2014/15.

d.    To approve the Coalville Special Expenses Budget for 2014/15.

e.    To approve the other Special Expenses Precepts for 2014/15.

Reason for decision: To enable the Council to set a balanced budget for 2014/15 as required by statute.