Decision details

To provide an update on the 2017/18 Budget and Medium Term Financial Strategy 2018/19 to 2021/22.  Having considered the draft budget in January the report sets out:

•  changes that have occurred subsequently;

•  impacts on reserves;

•  level of Council Tax;

•  consideration of the recommendation to Council on 22 February 2017; and

•  risks associated with the budget and relevant sensitivity analysis.

RECOMMENDS

That Council approve the:

  i.  overall budget 2017/18 and Medium Term Financial Strategy 2018/19 to 2021/22 at detailed in Appendix 1 (which includes Revenue at Section 2 and the Capital Programme at Section 3 and Appendix 2, growth) of the submitted report, subject to the following amendment:

A Council Tax increase of 2% for 2017/18 and 1.5% through the Medium Term Financial Strategy

  ii.  fees and charges for 2017/18 as detailed in Appendix 1, Section 7 and Annex A of the submitted report; and

  iii.  the new Plan-on-a-Page as detailed in Appendix 3 of the submitted report, subject to the amendment listed in (i) above.

It is a requirement of the Council to set an annual budget for the forthcoming year, in order to set the Council Tax, and to approve the Medium Term Financial Strategy.

The Budget was prepared by the Council and funding options were considered.  The Council also considered options on some growth items and as detailed within the report.

The following options for Council Tax increases were considered:

  i.  1.5% for 2017/18 and 1.5% through the Medium Term Financial Strategy;

  ii.  1.98% for 2017/18 and 1.98% through the Medium Term Financial Strategy; and

  iii.  2% for 2017/18 and 1.5% through the Medium Term Financial Strategy.

The resource implications were included within the main body of the report.