Decision details

This report seeks final confirmation of the recommendations to be made to Council, on 25 February 2022, in respect of the revenue budget, capital programme and council tax for 2022/23.

On 10 January 2022, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the revenue budgets and the council tax for 2022/23.  This report updates the Council’s budgets to reflect the decisions taken and other known changes since 10 January 2022.

The capital programme for the years 2021/22 to 2025/26 will be £44,990,900.

The revenue budget for 2022/23 will be £10,788,000.  With retained business rates and grants estimated to be £3,117,262 and a payment to the collection fund of £39,398, the total amount due from the Council taxpayers will be £7,710,136.

Taking these changes into consideration, the council tax for 2022/23 will be £175.22 per band D property.  This represents an increase of £5 per year from the council tax set for 2021/22 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 25 February 2022:

(a)  the capital programme and financing of £44,990,900;

(b)  an overall revised revenue budget for 2012/22 of £10,494,800;

(c)  a revenue budget for 2022/23 of £10,788,000;

(d)  a council tax for Fareham Borough Council for 2022/23 of £175.22 per band D property, which represents a £5.00 per year increase when compared to the current year and is within referendum limits; and

(e)  an unchanged Council Tax Support scheme for 2022/23