This report seeks final confirmation of the recommendations to be made to Council on 22 February 2019, in respect of the revenue budget, capital programme and council tax for 2019/20.
On 07 January 2019, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the capital programme, revenue budgets and the council tax for 2019/20. This report updates the Council’s budgets to reflect the decisions taken on 07 January 2019.
The capital programme for the years 2018/19 to 2022/23 will be £39,229,000.
The revenue budget for 2019/20 will be £8,666,400. With retained business rates estimated to be £1,897,692 and a deficit to be paid to the collection fund of £106,236, the total amount due from the council tax payers will be £6,874,944.
Taking these changes into consideration, the council tax for 2018/19 will be £160.22 per Bank D property. This represents an increase from the council tax set for 2018/19 but would be within the referendum limit set by the Government.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 04/01/2019
Decision due: 4 Feb 2019 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Director of Finance & Resources
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.