Decision details

This report reviews the Council’s finance strategy and makes recommendations regarding the capital programme, the revised revenue budget for 2012/13 and the revenue budget for 2013/14.

On 3 December 2012, the Executive considered the Council's capital programme, revised service budget for 2012/13 and proposed service budgets for 2013/14.

Capital Programme and Resources 2012/13 to 2016/17

The capital programme amounts to £19,903,000, and there are capital resources totalling £32,100,000 over the programme period.  Whilst a surplus of capital resources exists, there are significant spending requirements emerging that require new resources to be accumulated now so that the Council can meet its future commitments.

Revised General Fund Revenue Budget 2012/13

The revised general fund revenue budget for 2012/13 amounts to £13,253,500 for service budgets with other budgets totalling £-2,795,000 giving an overall position of £10,458,500.

General Fund Revenue Budget 2013/14

The proposed general fund budget for 2013/14 totals £12,730,200 for service budgets along with £-3,055,000 for other budgets giving an overall position of £9,675,200 which is a reduction of £783,300 against the original budget for 2012/13.

RESOLVED that:

(a)  the capital programme for the period 2011/12 - 2015/16, amounting to £19,903,000 be approved;

(b)  the revised 2012/13 general fund budget, amounting to £10,458,500 be approved;

(c)  the base 2013/14 general fund revenue budget amounting to £9,675,200 be approved;

(d)  the Executive recommends to Council that authority to calculate the Non-domestic rate baseline for 2013/14 and subsequent years be delegated to the Director of Finance and Resources.