Decision details

1…Executive Approval

2…Final Approval

(1)        That the following guidelines for the Council’s General Fund Budget in 2018/19 be recommended to the Council for adoption:

            (a)        the revised revenue estimates for 2017/18, which were anticipated to             increase the General Fund balance by £0.53million;

(b)        a decrease in the target for the 2018/19 Continuing Services Budget (CSB) from £12.92million to £11.91million (including growth items);

(c)        an increase in the target for the 2018/19 District Development Fund (DDF) net spend from £0.93milion to £3.91million;

(d)        an increase of 2.48% in the District Council Tax for a Band ‘D’ property to raise the charge from £148.77 to £152.46;

(e)        the estimated increase in General Fund balances in 2018/19 of £0.99million;

            (f)         the five year Capital Programme for the period 2017/18 – 21/22;

(g)        the Medium Term Financial Strategy for the period 2017/18 – 21/22; 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 2018/19, including the revised revenue estimates for 2017/18, be recommended to the Council for approval;

(3)        That the Council be requested to note that the rent reductions proposed for 2018/19 would give an average overall fall 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 2018/19 budgets and the adequacy of the reserves be noted.