Issue - meetings

Report of the Head of Finance

Presented by the Corporate Portfolio Holder

The Corporate Portfolio Holder presented the report to Members.

He informed Members that the report was to provide an update on progress in preparing next year’s budget and included a brief summary on financial performance in the current year.

He highlighted that there was an underspend forecast for the current year of £422,000 which was due to an increase of over £500,000 in planning fee income and that the General Fund Reserve was being maintained at £2.4m which left potential for allocating the underspending to special projects, however he advised that a prudent level of reserves were to be maintained when the budget was set due to uncertainties around income from business rates, the New Homes Bonus and local fees and charges.

He stated that the budget position for the next year projected a surplus rather than the shortfall predicted due to additional income from the New Homes Bonus, planning fees and Council Tax, but highlighted that there were significant pressures from reduced recycling credits and additional costs for the Local Plan, adding that the Government’s funding announcements later in the month may change this again.

He informed Members that it was proposed to freeze Council Tax for the seventh year and that no changes were being made to the Local Council Tax Support Scheme, and that a statutory consultation would now be held on the budget including consideration by Policy Development Group at its meeting in January.

Councillor T Gillard stated that it was a very positive report.

Councillor T J Pendleton agreed that the Authority should be prudent and not spend if unless necessary.

Councillor R Blunt highlighted the 0% increase to the Council Tax and agreed that the Council should be prudent.

It was moved by Councillor N J Rushton, seconded by Councillor T Gillard and

RESOLVED THAT:

1.    The 2016/17 budget proposals for statutory consultation be agreed.

2.    In principle the continuation of the payment of Local Council Tax Support (LCTS) grants to Town and Parish Councils subject to confirmation by Cabinet when it sets the council tax base in January 2016 be agreed.

Reason for decision:Required to complete 2016/17 budget process.