Decision details

This report seeks final confirmation of the recommendations to be made to Council, on 26 February 2021, in respect of the revenue budget, capital programme and council tax for 2021/22.

On 04 January 2021, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the capital programme, revenue budgets and the council tax for 2021/22. The report updates the Council’s budgets to reflect the decisions taken on 04 January 2021.

The capital programme for the years 202/21 to 2024/25 will be £53,902,000.

The revenue budget for 2021/22 will be £10,271,900.  With retained business rates and grants estimated to be £2,731,105 and a surplus from the collection fund of £84,393, the total amount due from the council tax payers will be £7,456,402.

Taking these changes into consideration, the council tax for 2021/22 will be £170.22 per band D property.  This represents an increase from the council tax set for 2020/21 but would be within the referendum limit set by the Government.

RESOLVED that the Executive approves and recommends to the meeting of the Council to be held on 26 February 2021:

(a)  the capital programme and financing of £53,902,000;

(b)  an overall revised revenue budget for 2020/21 of £9,606,500;

(c)  a revenue budget for 2021/22 of £10,271,900;

(d)  a council tax for Fareham Borough Council for 2021/22 of £170.22 per band D property, which represents a £5.00 increase when compared to the current year and is within referendum limits; and

(e)  an unchanged Council Tax Support scheme for 2021/22