Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
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.
RESOLVED that the Executive approves and recommends to the meeting of the Council to be held on 22 February 2019:
(a) the capital programme and financing of £39,973,000;
(b) an overall revised revenue budget for 2018/19 of £8,440,500;
(c) a revenue budget for 2019/20 of £8,666,400;
(d) the remainder of the surplus in the spending reserve remains in the reserve to cover the anticipated future funding shortfalls as set out in paragraphs 16-19;
(e) a council tax for Fareham Borough Council for 2019/20 of £160.22 per band D property, which represents a £5.00 increase when compared to the current year and is within referendum limits; and
(f) an unchanged Council Tax Support scheme for 2019/20.
Report author: Caroline Hancock
Publication date: 06/02/2019
Date of decision: 04/02/2019
Decided at meeting: 04/02/2019 - Executive
Effective from: 16/02/2019
Accompanying Documents: