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 21 February 2020, in respect of the revenue budget, capital programme and council tax for 2020/21.
On 06 January 2020, the Executive reviewed the Council’s overall finance strategy and considered proposals relating to the capital programme, revenue budgets and the council tax for 2020/21. This report updates the Council’s budgets to reflect the decisions taken on 06 January 2020.
The capital programming for the years 2019/20 to 2023/24 will be £64,246,000.
The revenue budget for 2020/21 will be £9,606,500. With retained business rates and grants estimated to be £2,456,665 and a deficit to be paid to the collection fund of £47,033, the total amount due from the council tax payers will be £7,196,868.
Taking these changes into consideration, the council tax for 2020/21 will be £165.22 per Band D property. This represents an increase from the council tax set for 2019/20 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 21 February 2020:
(a) the capital programme and financing of £64,246,000;
(b) an overall revised revenue budget for 2019/20 of £9,319,200;
(c) a revenue budget for 2020/21 of £9,606,500;
(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 17-20;
(e) a council tax for Fareham Borough Council for 2020/21 of £165.22 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 2020/21
Report author: Neil Wood
Publication date: 05/02/2020
Date of decision: 03/02/2020
Decided at meeting: 03/02/2020 - Executive
Effective from: 15/02/2020
Accompanying Documents: