Issue details

This report updates the Council’s finance strategy and makes recommendations regarding the capital programme, the revised revenue budget for 2017/18, the fees and charges and the revenue budget for 2018/19.

The report gives the Executive the opportunity to consider the Council's Medium Term Finance Strategy, capital programme, revised service budget for 2017/18, fees and charges for 2018/19 and proposed service budgets for 2018/19.

Capital Programme and Resources 2017/18 to 2021/22

The revised capital programme amounts to £52,776,000, and there are capital resources totalling £54,533,000 over the programme period.  Whilst a surplus of capital resources exists, there are likely to be emerging spending requirements that require new resources to be accumulated now so that the Council can meet its future commitments.

Revised General Fund Revenue Budget 2017/18

The revised general fund revenue budget for 2017/18 amounts to £12,026,500 for service budgets with other budgets totalling -£3,409,800 giving an overall position of £8,616,700 which shows no change from the base budget for 2017/18.

General Fund Revenue Budget 2018/19

The proposed general fund budget for 2018/19 totals £10,701,200 for service budgets along with -£2,226,700 for other budgets giving an overall position of £8,440,500 which is a reduction of £176,200 against the original budget for 2017/18.