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 Full Council, on 21 February 2014, in respect of the revenue budget, capital programme and council tax for 2014/15.
On 6 January 2014, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the capital programme, revenue budgets and the council tax for 2014/15. This report updates the Council’s budgets to reflect the decisions taken on 6 January 2014.
The capital programme for the years 2013/14 to 2017/18 will be £34,601,000.
The revenue budget for 2014/15 will be £9,510,600. With Central Government support and retained business rates estimated to be £3,708,796 and the option of accepting additional council tax freeze grant for 2014/15 equating to £56,430 this results in the total amount due from the council tax of £5,745,374.
Taking these changes into consideration, the council tax for 2014/15 will be £140.22 per Band D property and would mean that Fareham's element of the Council Tax will have remained unchanged for 6 years. This represents no increase from the council tax set for 2013/14, compares favourably to the current rate of inflation and complies with the Council’s corporate objectives.
RESOLVED that the Executive agrees that:
(a) the capital programme for the period 2013/14 - 2017/18, amounting to £34,601,000 be approved;
(b) the revised 2013/14 general fund budget, amounting to £9,823,300 be approved;
(c) the base 2014/15 general fund revenue budget amounting to £9,387,300 be approved; and
(d) the use of the surplus on the spending reserve, as set out in paragraphs 28-30 of the report, be approved.
Publication date: 08/01/2014
Date of decision: 06/01/2014
Decided at meeting: 06/01/2014 - Executive
Effective from: 18/01/2014
Accompanying Documents: