Decision details

The Budget setting process for 2016/17, including:

1…Financial Issues Paper

2…Fees & Charges

3…Draft Budget Lists

4…Executive Approval

5…Final Approval

(1)        That the following guidelines for the Council’s General Fund Budget in 2016/17 be recommended to the Council for adoption:

            (a)        the revised revenue estimates for 2015/16, which were anticipated to         decrease the General Fund balance by £1.55million;

            (b)        confirmation of an increase in the target for the 2016/17 Continuing            Services Budget from £13.0million to £13.25million (including growth items);

            (c)        an increase in the target for the 2016/17 District Development Fund            net spend from £0.55million to £0.75million;

            (d)        no change in the District Council Tax for a Band ‘D’ property to keep          the charge at £148.77;

            (e)        the estimated reduction in General Fund balances of £36,000 in      2016/17;

            (f)        the four-year Capital Programme for the period 2016/17 to 2019/20,           and including the use of £3million of the General Fund balance in 2015/16;

            (g)        the Medium Term Financial Strategy for the period 2015/16 to        2019/20; and

            (h)        the Council’s policy on General Fund Revenue Balances to remain             that they be allowed to fall no lower than 25% of the Net Budget Requirement;

(2)        That the Housing Revenue Account (HRA) budget for 2016/17, including the revised revenue estimates for 2015/16, be recommended to the Council for approval;

(3)        That the Council be requested to approve the proposed rent reductions for 2016/17, to give an overall decrease of 1%; and

(4)        That the Chief Financial Officer’s report to the Council on the robustness of the estimates for the purposes of the Council’s 2016/17 budgets and the adequacy of the reserves be noted.