Agenda item

(Finance Portfolio Holder) To consider the attached report.

Mover: Councillor G Mohindra, Finance Portfolio Holder

 

Councillor G Mohindra presented a report on the Budget and Council Tax Declarations for 2018/19. He thanked Finance Officers for an excellent budget and sound financial advice.

 

There voted for the recommendations (41) namely: R Baldwin, R Bassett, A Beales, N Bedford, H Brady, W Breare-Hall, R Butler, G Chambers, D Dorrell, R Gadsby, L Girling, A Grigg, L Hughes, B Jennings, H Kane, S Kane, H Kauffman, P Keska, J Knapman, A Lion, L Mead, G Mohindra, S Neville, A Patel, J Philip, C C Pond, C P Pond, C Roberts, D Roberts, B Sandler, M Sartin, G Shiell, P Stalker, D Stallan, D Sunger, E Webster, C Whitbread, H Whitebread, J H Whitehouse, J M Whitehouse and D Wixley.

 

There voted against the recommendation (1) namely: S Murray

 

Abstentions (2) namely: R Brookes and S Heap.

 

Report as first moved ADOPTED

 

RESOLVED:

 

Budget

 

(1)          That the list of CSB growth and savings for the 2018/19 budget (set out in Annex 1) be approved;

 

(2)        That the list of District Development Fund and Invest to Save items for the 2018/19 budget (set out in Annexes 2 and 3 to these minutes) be approved;

 

(3)        That the revenue estimates for 2018/19 and the draft Capital Programme for 2018/19 be approved as set out in Annexes 4, 5 (a-f) and 6 to these minutes including all contributions to and from reserves as set out in the attached Annexes;

 

(4)        That the Medium Term Financial Strategy be approved as set out in Annexes 9 a and 9 b to these minutes;

 

(5)        That the 2018/19 HRA budget be approved on the basis that the contribution to the self-financing reserve continues to be suspended, and that the application of rent decreases resulting in an average decrease of 1% from £96.30 to £95.34, be approved;

 

(6)        That the Council's policy of retaining revenue balances at no lower than £4.0M or 25% of the net budget requirement whichever is the higher for the four year period to 2020/21 be amended to no lower than £4.0M or 25% of the net budget requirement whichever is the higher during the four year period up to and including 2021/22;

 

(7)        That the report of the Chief Financial Officer on the robustness of the estimates for the purposes of the Council’s 2018/19 budgets and the adequacy of the reserves (Annex 10 attached to these minutes) be noted.

 

Declaration of Council Tax

 

(8)        That it be noted that under delegated authority the Director of Resources, in consultation with the Finance Portfolio Holder, calculated the Council Tax Base 2018/19:

 

(a)           for the whole Council area as 53,562.8 (Item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended); and

 

(b)           for dwellings in those parts of its area to which a Parish precept relates as set out below and in Annex 7 attached to these minutes:

 

Tax Base

 

Abbess, Beauchamp & Berners Roding                                                      224.1

Buckhurst Hill                                                                                            5,211.0

Chigwell                                                                                                     6,125.3

Epping Town                                                                                             5,251.6

Epping Upland                                                                                              407.5

Fyfield                                                                                                                     413.4

High Ongar                                                                                                   553.2

Lambourne                                                                                                   884.9

Loughton Town                                                                                       12,408.9

Matching                                                                                                      439.1

Moreton, Bobbingworth and The Lavers                                                     584.1

Nazeing                                                                                                     2,064.9

North Weald Bassett                                                                                 2,544.3

Ongar                                                                                                        2,726.1

Roydon                                                                                                      1,337.5

Sheering                                                                                                    1,352.0

Stanford Rivers                                                                                            357.5

Stapleford Abbotts                                                                                       522.3

Stapleford Tawney                                                                                         79.5

Theydon Bois                                                                                            1,986.8

Theydon Garnon                                                                                            84.4

Theydon Mount                                                                                            118.4

Waltham Abbey Town                                                                              7,650.3

Willingale                                                                                                      235.7

 

(9)        That the following amounts be calculated for the year 2018/19 in accordance with sections 31 to 36 of the Local Government Finance Act 1992:

 

(a)           £117,101,309 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(2) of the Act taking into account all precepts issued to it by Parish Councils;

 

(b)           £105,454,170 being the aggregate of the amounts which the Council estimates for the items set out in Section 31A(3) of the Act;

 

(c)           £11,647,139 being the amount by which the aggregate at 9 (a) above exceeds the aggregate at 9 (b) above, calculated by the Council in accordance with Section 31A(4) of the Act as its Council Tax requirement for the year. (Item R in the formula in Section 31B of the Act);

 

(d)            £217.45 being the amount at 9 (c) above (Item R), all divided by Item T (the amount at 8 (a) above), calculated by the Council, in accordance with Section 31B of the Act, as the basic amount of its Council Tax for the year (including Parish precepts);

 

(e)           £3,480,955 being the aggregate amount of all special items (Parish precepts) referred to in Section 34(1) of the Act (as per the attached Annex 7 to these minutes);

 

(f)            £152.46 being the amount at 9 (d) above less the result given by dividing the amount at 9 (e) above by Item T (8 (a) above), calculated by the Council, in accordance with Section 34(2) of the Act, as the basic amount of its Council Tax for the year for dwellings in those parts of its area to which no Parish precept relates.

 

(10)      That it be noted that the County Council, the Police Authority and the Fire Authority have issued precepts to the Council in accordance with Section 40 of the Local Government Finance Act 1992 for each of the category of dwellings in the Council’s area as shown in Annex 8 (attached to these minutes);

 

(11)      That the Council, in accordance with Sections 30 and 36 of the Local Government Finance Act 1992, hereby sets the aggregate amounts in Annex 8 Part B (tabled) as the amounts of Council Tax for 2018/19 for each part of its area and for each of the categories of dwellings.

 

(12)      That in accordance with section 52ZB of the Local Government Finance Act 1992, Council determines that the amount of Council Tax shown at (9) (f) of £152.46 for 2018/19, being an increase of 2.48% from 2017/18 is not excessive and therefore there is no need to hold a local referendum.